Bank sells former MD’s London property
The bank stated that it had already recovered a sum of £11 million
(N3,076,114,750.50) from the sale of properties in Embassy Court,
London.
Former Managing Director of Intercontinental Bank, Erastus Akingbola(The Nation)
Access Bank Plc has sold some properties of the former Managing Director of the defunct Intercontinental Bank Plc, Erastus Akingbola, in order to recover the sum of N164 billion which he owes.
The bank stated that it had already recovered a sum of £11 million (N3,076,114,750.50) from the sale of properties in Embassy Court, London.
Access bank, which acquired Intercontinental Bank in 2012, received the authority to sell the assets after a London High Court granted a judgment in its favour in July 2012.
The Grand Court of the Cayman Islands, in a September 4, 2014 judgment, also ordered Akingbola to pay the bank the sums of N238, 471,484,162 and £1,800,000.
Mr. Akingbola was first arrested on August 10, 2010 after being declared wanted for fraud by the Economic and Financial Crimes Commission (EFCC). He was subsequently re-arrested and re-arraigned in February 2013.
The bank stated that it had already recovered a sum of £11 million (N3,076,114,750.50) from the sale of properties in Embassy Court, London.
Access bank, which acquired Intercontinental Bank in 2012, received the authority to sell the assets after a London High Court granted a judgment in its favour in July 2012.
The Grand Court of the Cayman Islands, in a September 4, 2014 judgment, also ordered Akingbola to pay the bank the sums of N238, 471,484,162 and £1,800,000.
Mr. Akingbola was first arrested on August 10, 2010 after being declared wanted for fraud by the Economic and Financial Crimes Commission (EFCC). He was subsequently re-arrested and re-arraigned in February 2013.
Post a Comment