A Federal High Court in Lagos on Tuesday adjourned until June 3, the money laundering trial of a former Managing Director of the defunct Intercontinental Bank Plc., Erastus Akingbola.
![](https://thenigerialawyer.com/wp-content/uploads/2026/06/ELLAN.png")
![](https://thenigerialawyer.com/wp-content/uploads/2026/05/2026-Summer-IDRI-Masterclass.jpg")
The Economic and Financial Crimes Commission (EFCC) charged Akingbola with amended 22 counts bordering on money laundering.
He, however, pleaded not guilty on re-arraignment in March.
The case, which was slated for continuation of trial on Tuesday, could not proceed as the judge was said to be on another official assignment.
The EFCC accused the defendant of converting an aggregate sum of 1.3 million dollars and 8.5 million dollars, taken from the bank’s GBP NOSTRO account at Deutsche Bank in London.
The sum was said to have been remitted into the account of Fuglers Solicitors with the Royal Bank of Scotland in London, to purchase property in the name of Life Boat Settlement Trust allegedly set up by the defendant.
According to the EFCC, the defendant knew that the sums represented proceeds of crime.
The alleged offences contravene the provisions of Sections 105(1) and 105(a), of the Investment and Securities Act, 2007.
They also contravene the provisions of Sections 13 (1), 15(1)(a) and 28(3) of the Banks and Other Financial Institutions Act, Cap B3, Laws of the Federation, 2004.
One of the offences contravenes the provisions of Sections 14(1) of the Money Laundering Prohibition Act, 2004.
As an added bonus, every purchase comes with a FREE ebook titled: “How to use the AI in Legalpedia and Law Pavilion.”
Ohio Books Ltd praises the publication, stating:
"....this is the only Nigerian book I know of on the topic."
How to Order:
📞 Call, Text, or WhatsApp: 08034917063 | 07055285878
📧 Email: benadigwe1@gmail.com
🌎 Website: www.benadigwe.com
Ebook Version: Access it directly online at https://selar.com/prv626
Authored by Ben Ijeoma Adigwe Esq., ACiarb (UK), LL.M, Dip. in Artificial Intelligence, Director at the Delta State Ministry of Justice, Asaba, Nigeria.
_______________________________________________________________________
“Enhance Legal Practice With Authoritative Reports” — Alexander Payne Offers Comprehensive Law Reports, Spanning Over A Century Of Nigerian Jurisprudence
Interested buyers are encouraged to place their orders and enquiries via:
0704 444 4777, 0704 444 4999, 0818 199 9888
Website: www.alexandernigeria.com
The book, titled The Law of Torts in Nigeria: A Functional Approach, authored by Professor Hagler Sunny Okorie Ph.D and Ikeocha, Nathaniel Ngozi Esq, offers law students, practitioners, and academics a comprehensive guide to understanding and applying tort law in Nigerian courts. Interested buyers can place orders via the following contact numbers: 08028636615, 08037667945, 08032253813, or +234 902 196 2209.
________________________________________________________________________
[A MUST HAVE] Evidence Act Demystified With Recent And Contemporary Cases And Materials
