Mr Erastus Akingbola, former Managing Director of Intercontinental Bank Plc is to be re-arraigned on fresh charges in Lagos today, Tuesday.
The ex-bank chief who was re-arrested by operatives of the Economic and Financial Crimes Commission, EFCC, yesterday Monday in Lagos will appear before Justice Adeniyi Onigbanjo, judge of the Lagos High Court.
It would be recalled that Mr. Akingbola was first arrested on August 10, 2010 when he reported himself to the EFCC office after the anti graft agency had declared him wanted.
He was subsequently arraigned before Justice Mohammed Idris of the Federal High Court, Lagos on a 22-count charge of fraud, granting of reckless credit facilities, abuse of office, and mismanagement of depositors’ funds.
Mr. Idris had on August 29, 2010 granted Mr. Akingbola bail in the sum of N500 million and three sureties in like sum.