Erastus Akingbola alerts govt on fraudulent bid to take over Intercon Bank
Erastus Akingbola
Erastus Akingbola, the former Chief Executive of Intercontinental Bank has alleged a clandestine sell out of the bank by close associates of the Governor of Central bank, Mr Sanusi Lamido Sanusi, urging the government to move in to investigate
The former of Intercontinental Bank Plc. top shot has formally petitioned the Attorney-General of the Federation and Minister of Justice, Mr. Mohammed Adoke (SAN), accusing Kwara State Governor Bukola Saraki, Governor of Central Bank, Mr. Sanusi Lamido, and the Managing Director of the bank, Mr. Mahmoud Alabi, of taking over the bank.
Akingbola also said that Alabi wrote off a total of N8.115bn debt owed by companies allegedly owned by Saraki.
The companies are Linkers. Dicetrade, Skyview Properties and Joy Petroleum.
He alleged that a total of N32bn other loans written off belonged to associates of Saraki and Sanusi. Besides, he claimed that Alabi did this because he was once the chairman of Songa Farms owned by the governor.
He claimed that the loans had been classified as ‘good’ and ‘performing’ by the CBN and wondered why they were written off.
In the August 3, 2010 petition, Akingbola asked the AGF to investigate the matter.
In the nine-page petition of 30 paragraphs, Akingbola said he had a professional disagreement with Sanusi, while the latter was the CEO of First Bank Plc.
His problems with Saraki, he added, resulted from his refusal to agree to a merger with Societe-Generale Bank, a bank owned by the governor’s family.
The petition reads, “Back then, I had discovered that his staff members were de-marketing IB Plc and I wrote to him concerning this (copy attached).
“My immediate conclusion was that Dr. Saraki and Mallam Sanusi wanted to take over IB Plc by fraudulent means, and that if I went into their custody, it could result in my death, in order to silence any opposition to their plans.
“Mr. Mahmoud Lai Alabi was appointed by the CBN as the new CEO of IB Plc. Mr. Alabi is (was) an employee of Dr. Saraki as chairman of Songa Farms and several development funds in the state.
On resuming, his first task was to write off Dr. Saraki’s loans to the tune of N8.115bn (papers and letters attached).”
“He also wrote off loans totaling N32bn to friends of Dr. Saraki and Mallam Sanusi. All this, in a bank that they were meant to be rescuing.
“All these written-off loans had been classified as ‘good’ and ‘performing’ by the CBN examiners, and had been secured with properties in Ikoyi (Lagos) Victoria Island (Lagos) and Abuja.
“The CBN examination report of May 2010 complained about this massive loan or ‘cash gift’ to Dr. Saraki.”
When contacted, spokesman of the bank, Mr. Lawrence Ndukwe, said he was unable to speak as he was indisposed.
Saraki’s spokesman, Mr. Masud Adebimpe, confirming said it was “not a new issue. This thing has been in the news for a long time.”
Source: Punch Newspapers
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