EFCC rearrests former bank chiefs, directors

Clockwise from right: Bartholomew Ebong (Union Bank); Okey Nwosu (Finbank); Erastus Akingbola (Intercontinental Bank); and Sebastian Adigwe (Afribank). Photo: NEXT

The Economic and Financial Crimes Commission (EFCC) yesterday rearrested the former chief executive officers of AfriBank, Finbank, Union and Intercontinental banks and eight other directors in Lagos. According to Femi Babafemi, the commission’s spokesperson, the arrests were based on fresh discoveries. While confirming the arrest of Erastus Akingbola, the former managing director of Intercontinental Bank who was out on bail after a series of court appearances, Mr Babafemi said: “These are fresh charges but they are related — not only him, but three other former MDs (managing directors) and eight other directors; about eleven of them are arrested.”

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