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UK Freezes Erastus Akinghola’s Assets Globally
A United Kingdom Court in London has ordered a temporary forfeiture of all assets, both identified and unidentified, belonging to the wanted former group managing director and chief executive officer of Intercontinental Bank Plc, Mr. Erastus Akingbola.
The order, known, as Mareva order, covers all assets traceable to him globally, including his investments, cash in bank accounts and property, among others.
It was granted on December 23, 2009.
The order is used to preserve assets in a situation where there are fears that the other party in a case may waste or dissipate the assets in contention.
It was gathered that the temporary forfeiture order was jointly sought by the Economic and Financial Crimes Commission (EFCC) and the new management of Intercontinental Bank, following a tip-off that he was in the process of moving £3.3 million about N858 million from Isle of Man, an Island in the Caribbean to London.
His total investment in the Island is said to be about N12 billion.
The Island is known in the banking world as the safe haven for bankers to hide slush funds.
Before the move by the commission, Akingbola was alleged to have moved a huge sum of money from his investment in the Island to purchase some property in London.
In the Mareva order, which is now in the possession of the anti-corruption agency, property allegedly bought by Akingbola during the initial cash movement reportedly included houses on numbers 17, 18, 19, 20 on Finchey Road, London, as well as the property located at 26, Chesire Terrace, London.
EFCC, which is set for the implementation of the order, was said to have moved in particular for the all-covering order to stop Akingbola from dissipating the assets, which the commission claimed were proceeds of crime.
The commission was said to have convinced the court to grant the global order after it was able to provide evidence that he had initially moved monies from the Island to buy property in London.
In the charge filed against him in a Federal High Court in Lagos by the commission, which is being used to push for his extradition, the property traced to him were described as proceeds of the alleged crime he committed with shareholders’ funds, while at the bank.
Commission’s spokesperson, Mr. Femi Baba-Femi could not be reached on his mobile phone for comments on the development.
Four top management staff of the bank arrested over another alleged N12 billion fraud involving Akingbola are still being detained on court order by the commission.
The affected top officers included Akin Fabunmi, Financial Controller; Toyin Odesilo, Head, Domestic Operations and Toyin Oyelade, Treasurer.
It was gathered that they allegedly removed N12 billion from the bank’s General Legal Account in November and gave some to Akingbola.
According to information from the commission, the affected bank top shots had in November moved N2 billion to a subsidiary of the bank {names withheld}, from where it was moved to a bureau de change where it was converted to Pounds Sterling and wired to Akingbola’s domiciliary account with the bank before it was finally wired to another account of his in the United Kingdom.
He was said to have successfully withdrawn the money before the commission was called into the alleged scam.
In the same month, another N10 billion was reportedly moved by the same people into the accounts of some companies owned by Akingbola domiciled with Access Bank Plc, before it was finally paid to Access Bank to defray the N10 billion debts Akingbola and his companies owed the bank.
Five non-executive directors of the bank were recently fingered in another alleged fresh N50 billion scam.
The money, which was said to have been shared among the five directors, was believed to be part of the missing N1 trillion in the sector.
It was gathered that while N1.2 billion was shared by the five former directors in March, 2008 as bonus, another N1.8 billion was shared among them in the same month.
The commission’s sustained investigation into the books of the troubled bank was said to have uncovered another fresh N31 billion allegedly laundered by Akingbola while at the helms of affairs in the bank.
In May 2009, the probe report stated that Akingbola allegedly used his own registered company, Tropics Properties Ltd, to launder over N13 billion investors’ funds.
The first payment made into Tropics account was N4.5 billion, the second being N4.4 billion, while the third was N4.06 billion.
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Shettima In Ethiopia For State Visit

Vice President Kashim Shettima has arrived in Addis Ababa, Ethiopia, for an official State visit at the invitation of the Prime Minister, Dr. Abiy Ahmed.
Upon arrival yesterday, Shettima was received at the airport by the Minister of Foreign Affairs of Ethiopia, Dr. Gedion Timothewos, and other members of the Ethiopian and Nigerian diplomatic corps.
Senior Special Assistant to the Vice President on Media and Communication, Stanley Nkwocha, revealed this in a statement he signed yesterday, titled: “VP Shettima arrives in Ethiopia for official state visit.”
During the visit, Vice President Shettima will participate in the official launch of Ethiopia’s Green Legacy Programme, a flagship environmental initiative.
The programme designed to combat deforestation, enhance biodiversity, and mitigate the adverse effects of climate change targets the planting of 20 billion tree seedlings over a four-year period.
In line with strengthening bilateral ties in agriculture and industrial development, the Vice President will also embark on a strategic tour of key industrial zones and integrated agricultural facilities across selected regions of Ethiopia.
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RSG Tasks Farmers On N4bn Agric Loan ….As RAAMP Takes Sensitization Campaign To Four LGs In Rivers

The Rivers State Government has called on the people of the state especially farmers to access the ?4billion agricultural loans made available by the State and domiciled in the Bank of Industry.
This is as the State Project Implementation Unit (SPIU) of Rural Access and Agricultural Marketing Project (RAAMP), a World Bank project, took its sensitization campaign to Opobo/Nkoro, Andoni, Port Harcourt City and Obio/Akpor local government areas.
The campaign was aimed at enlightening community dwellers and other stakeholders in the various local government areas on the RAAMP project implementation and programme activities.
The Permanent Secretary, Rivers State Ministry of Agriculture, Mr Maurice Ogolo, said this at Opobo town, Ngo, Port Harcourt City and Rumuodumanya, headquarters of the four local government areas respectively, during the sensitization campaign.
Ogolo said apart from the ?4billion, the government has also made available fertilizers and other farm inputs to farmers in the various local government areas.
The Permanent Secretary who is the Chairman, State Steering Committee for the project, said RAAMP will construct roads that will connect farms to markets to enable farmers and fishermen sell their farms produce and fishes.
He also said rural roads would be constructed to farms and fishing settlements, and warned against any act that will lead to the cancellation of the projects in the four local government areas.
According to him, the World Bank and Federal Government which are the financiers of the programme will not condone such acts like kidnapping, marching ground and other acts inimical to the successful implementation of the projects in their respective areas.
At PHALGA, Ogolo asserted that the city will benefit in the areas of roads and bridge construction.
He noted that RAAMP was thriving in both the Federal Capital Territory, Abuja; Lagos and other states in the country, stressing that the project should also be given the seriousness it deserves in Rivers State.
Speaking at Opobo town, the headquarters of Opobo/Nkoro Local Government Area, the project coordinator, RAAMP, Mr.Joshua Kpakol, said the programme would reduce poverty in the state.
According to him, both fishermen and farmers will maximally benefit from the programme.
At Ngo which is the headquarters of Andoni Local Government Area, Kpakol said roads will be constructed to all remote fishing settlements.
He said Rivers State is lucky to be among the states implementing the project, and stressed the need for the people to embrace it.
Meanwhile, Kpakol said at PHALGA that RAAMP is a project that will transform the lives of farmers, traders and other stakeholders in the area.
He urged the stakeholders to spread the information to their various communities.
However, some of the stakeholders at Opobo town complained about the destruction of their farms by bulls allegedly owed by traditional rulers in the area, as well as incessant stealing of their canoes at waterfronts.
At Ngo, Archbishop Elkanah Hanson, founder of El-Shaddai Church, commended the World Bank and the Federal Government for bringing the projects to Andoni.
He stressed the need for the construction of roads to fishing settlements in the area.
Also, a former Commissioner for Agriculture in the state and Okan Ama of Ekede, HRH King Gad Harry, noted that storage facilities have become necessary for a successful agricultural programme.
Harry also stressed the need for the programme to be made sustainable.
In their separate speeches, the administrators of Andoni and Opobo/Nkoro Local Government Areas, pledged their readiness to support the programme.
At Port Harcourt City, the Administrator, Dr Arthur Kalagbor, represented by the Head of Local Government Administration, Port Harcourt City, Mr Clifford Paul, said the city would support the implementation of the programme in the area.
Also, the administrator of Obio/Akpor Local Government Area, Dr Clifford Ndu Walter, represented by Mr Michael Elenwo, pledged to support the programme in his local government area.
Among dignitaries at the Obio/Akpor stakeholders engagement is the chairman, Rivers State Traditional Rulers Council and paramount ruler of Apara Kingdom, HRM Eze Chike Wodo, amongst others.
John Bibor
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Tinubu Orders Civil Service Personnel Audit, Skill Gap Analysis

President Bola Tinubu has ordered the commencement of personnel audit and skill gap analysis across all cadres of federal civil servants.
The president gave this directive in Abuja, yesterday, while speaking at the International Civil Service Conference, reaffirming his resolve to achieve efficiency and professional service delivery in the civil service.
“I have authorized the comprehensive personnel audit and skill gap analysis across the federal civil service to deepen capacity. I urge all responsible stakeholders to prioritize timely completion of this critical exercise, to begin implementing targeted reforms, to realize the full benefit of a more agile, competent and responsive civil service,” the president announced.
Tinubu further directed all Ministries, Departments and Agencies (MDAs), to prioritise data integrity and sovereignty in national interest.
He called for the capture, protection and strategic publication of public sector data in line with the Nigeria Data Protection Act of 2023.
“We must let our data speak for us. We must publish verified data assets within Nigeria and share them internationally recognized as fruitful. This will allow global benchmarking organisation to track our progress in real time and help us strengthen our position on the world stage. This will preserve privacy and uphold data sovereignty,” Tinubu added.
President Tinubu hailed the federal civil service as the “engine” driving his Renewed Hope Agenda, and the vehicle for delivering sustainable national development.
He submitted that the roles of civil servants remain indispensable in modern governance, declaring that in the face of a fast-evolving digital and economic landscape, the civil service must remain agile, future-ready, and results-driven.
“This maiden conference is a bold step toward redefining governance in an era of rapid transformation. An innovative Civil Service ensures we meet today’s needs and overcome tomorrow’s challenges.
“It captures our collective ambition to reimagine and reposition the civil service. In today’s rapid, evolving world of technology, innovation remains critical in ensuring that the civil service is dynamic, digital” the President said.
Head of the Civil Service of the Federation, Didi Walson-Jack in her welcome address told the President that his presence and strong words of commendation at the conference has renewed the morale and mandate of public servants across the country.
Walson-Jack described Tinubu as the backbone of driving transformation in the Nigerian civil service, and noted that the takeaways from past study tours undertaken to understudy the civil service in Singapore, the UK and US under her leadership, is already yielding multiplier effects.
Walson-Jack assured Tinubu that her office, in collaboration with reform-minded stakeholders, will not relent in accelerating the implementation of the Federal Civil Service Strategy and Implementation Plan, FCSSIP 25.
She affirmed that digitalisation, performance management, and continuous learning remain key pillars in strengthening accountability, transparency, and service delivery across MDAs.
Walson-Jack reaffirmed that the civil service is determined to exceed expectations by embedding a culture of innovation, ethical leadership, and citizen-centred governance in the heart of public administration.