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Akingbola To Forfeit N626bn, 8 Houses, Others – EFCC

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The Mareva order granted against the wanted former Group Managing Director of Intercontinental Bank Plc, Mr. Erastus Akingbola, would see him forfeiting, temporarily, to the Federal Government, about N626 billion, eight houses, nine companies and 12 bank accounts.

This is even as the Economic and Financial Crimes Commission (EFCC) again sealed off his property at 2, Bedwell Road Ikoyi, Lagos on Wednesday.

Commission’s spokesperson, Mr. Femi Babafemi, confirmed the sealing off of the property.

The Mareva order issued by a London court and a federal high court sitting in Lagos covered all his properties worldwide.

All the items listed by the commission were covered by the order.

His property at 12, Ruxcon Road, Ikoyi, Lagos was sealed off on Tuesday which signaled the commencement of the execution of the Mareva order.

In the Mareva sum contained in the order, N346 billion was listed in local currency while 1,085,575 British pounds was also listed as alleged proceeds of crime.

The order restrained Akingbola and members of his family from coming in contact with the said property until it is lifted.

In the schedule 11 of the order, assets listed included, property at Milverton Road, Ikoyi, 26, Chester Terrace London, 8 Connaugh Street, London, 65 Gove-End Road, London, Amazing Grace Plaza, Ligali Ayorinde Street, Victoria Island among others.

Companies listed in the order included Tropics Securities, Tropics Property, Tropics Holdings, Summit Finance Company, Tropics Finance and Investment Company, Yankuri Nigeria Ltd, Regal Investment, Bankinson Nigerian Ltd and Associated Discount House Ltd among others.

Some of the bank accounts included accounts with numbers 0001200000029420, 0001210000005334, 0111-001-000352735 and 0111-001000- 352745 domiciled with Intercontinental Bank.

Fifteen cars and five dogs were found on the property sealed off on Tuesday.

In the property listed in his name in the court order, he is said to own 10 properties in Ikoyi ansd Victoria Island, Lagos alone.

The commission’s guards now watch over the seized property.

It was also gathered that the commission’s chairman, Mrs Farida Waziri had written to all banks where Akingbola has accounts for the transfer of same to the government.

Other banks where he has accounts included Access Bank, Zenith Bank, Skye Bank, Fidelity Bank and Intercontinental U.K.

Security agencies abroad where Akingbola has properties and bank accounts, had also been contacted for the same measure of treatment for the former banker.

While the Lagos order was granted on the last day of 2009, the London court had granted its, on 23rd December, 2009.

Some of the assets to also be frozen were Nos 17, 18, 19, 20 on Finchey Road, London as well as the property located at 26, Chesire Terrace, London.

Properties said to have been owned by him in Accra, Ghana and Dubai, United Arab Emirates, were also listed for forfeiture.

The Group Managing Director/Chief Executive Officer, Oceanic Bank, Mr. John Aboh, has said the bank concluded staff rationalisation exercise December last year, stressing that it has no plan to sack any of his workers in the new year.

Speaking against the backdrop of insinuations that the bank had carried out fresh disengagement of staff, Aboh explained that it was unfounded and a premeditated attempt by people to derail the consistent progress being recorded by the bank.

According to him, last year rationalisation was to drive operational efficiency in the organisation, noting that it had become imperative to alert customers and shareholders on true situation.

“I urge our esteemed customers, shareholders, and the entire banking public to disregard such reports. Oceanic Bank is making steady progress with its recovery efforts and the trends before us show promising prospects and enhanced value creation for all stakeholders.”

The Oceanic Bank boss explained that prior to the bank’s staff rationalisation exercise, the bank was expending over N4 billion monthly on salaries and wages to a workforce of over 20,000 people.

“We had to implement the painful process of staff rationlisation to streamline the workforce along the line of the current business realities otherwise we will be deploying depositors’ funds to sustain the bloated workforce. The vision we have is to grow the business to ensure consistent value creation for our customers and shareholders.”

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RIFF 2026: RIFF Takes Film Tourism to Bonny Island

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The Rivers International Film Festival (RIFF) 2026 is set to make a significant impact on Nigeria’s creative and tourism landscape as filmmakers, industry professionals, cultural enthusiasts and international guests converge on the historic and culturally rich Bonny Island, Rivers State, for the fourth edition of the festival.
Scheduled to hold from 29 October to 1 November 2026, RIFF 2026 is expected to bring together creative talents from Nigeria and across the world for four days of film screenings, industry conversations, masterclasses, networking opportunities, cultural experiences and celebrations of cinematic excellence.
The festival is being organised around the theme, “Film Tourism: A Pathway to Economic Development,” highlighting the powerful relationship between the film industry, tourism and the wider creative economy. This is with the view to Promote Cultural Preservation, Youth Empowerment and Economic Development.
Speaking on the forthcoming fourth edition of the festival, the founder, Rivers International Film Festival/National Chairman Film Festivals Association of Nigeria, Kate Ezeigbo said that the efforts of RIFF in conjunction with the Rivers State government have not gone unnoticed.
According to her, “The growing significance of the Rivers International Film Festival has received commendation from the Honourable Minister for Arts, Entertainment , Culture and Creative Economy, Hannatu Musawa, who acknowledged the important role being played by the Rivers State Government and RIFF in advancing the creative sector.
The Minister stated:
“I am aware that the Rivers State Government, backed by the Rivers International Film Festival, partnered with Entertainment Stakeholders, encourages the use of film and art for cultural preservation and youth empowerment. This really will make Nigeria the cultural and creative hub of Africa and Rivers State is taking a huge step in claiming that position.”
The commendation is seen as a major recognition of the festival’s vision and its commitment to using the creative industry as a vehicle for cultural development, youth engagement, tourism promotion and economic growth.
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Soyinka Demands Accountability Over Extra-Judicial Killings

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Nobel Laureate, Professor Wole Soyinka, has called on Nigerians to reject silence in the face of extrajudicial killings and other abuses of human rights.

Soyinka stressed that accountability and civic courage remain essential to rebuilding public confidence in the nation’s institutions.

He  made the call  during the 28th Wole Soyinka Lecture held in Port Harcourt, last Friday as part of activities marking his 92nd birthday.

The lecture, themed “Reclaiming the Nigerian State through Accountability, Justice and Civic Courage,” drew participants from different sectors of society.

The renowned playwright and human rights advocate said the country’s greatest tragedy was not only the unlawful killings carried out by state and non-state actors, but also the silence that often follows such incidents, allowing perpetrators to evade justice.

According to him, indifference by citizens to abuses of power and violations of fundamental human rights has contributed to the persistence of extrajudicial killings and other forms of injustice across the country.

Soyinka said he dedicated this year’s lecture to victims of unlawful killings, noting that the event was intended to honour individuals who had lost their lives as a result of failures within the justice system and society’s inability to protect the sanctity of human life.

He stressed that the lecture was dedicated to what he described as the basic unit of every society – the human being, and urged Nigerians to place greater value on human dignity irrespective of ethnicity, religion or social status.

The Nobel Laureate recalled several incidents of violence, including the fatal shooting and killing of a young man in Ugheli in Delta State  by a police officer, and the mob killing of Deborah Yakubu in Sokoto State sometime ago, lamenting that many of those responsible are yet to face justice.

He expressed concern that some perpetrators of violent crimes had openly admitted their actions without fear of prosecution, describing such situations as evidence of serious failures within the nation’s justice system.

Soyinka maintained that when justice is delayed or denied, public confidence in state institutions continues to erode, thereby encouraging further violations of human rights.

Responding to critics who accuse him of promoting religious or ethnic divisions whenever he spoke on such issues, Soyinka dismissed the allegations and pointed out that his advocacy has always centred on the protection of human life and the rule of law.

He urged Nigerians to remain vigilant and continue demanding justice in cases of alleged extrajudicial killings, including the recent shooting of a young man by a police officer, stressing that every life deserves equal protection under the law.

The literary icon also recalled an earlier pledge by a past incoming president to make public the files relating to unresolved assassinations and extrajudicial killings, questioning the status of the promised investigations.

He challenged citizens to continue asking questions about unresolved cases, insisting that justice, accountability and respect for human dignity are indispensable to building a peaceful, democratic and inclusive Nigerian society.

 

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FAAN Backtracks, Says No Fire Incident At Lagos Airport’s Terminal 2

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The Federal Airports Authority of Nigeria (FAAN) has clarified that there was no fire at Terminal 2 of the Murtala Muhammed International Airport, Lagos, contrary to its earlier advisory.

Earlier yesterday, FAAN had announced that a fire incident had occurred at Terminal 2 of the nation’s busiest airport, and assured that its Aerodrome Rescue and Firefighting Service had been deployed to contain the situation.

There were also reports that activities were briefly disrupted at the airport yesterday after smoke was seen inside parts of the terminal.

Videos circulating online showed passengers kept standing outside the terminal while firefighters responded to the incident.

However, in an update issued less than two hours later by the Director of Public Affairs and Consumer Protection, Henry Agbebire, and posted on FAAN’s official X handle, the authority said preliminary findings showed that the smoke seen at the terminal was caused by the discharge of the facility’s FM-200 fire suppression system.

“Further to our earlier advisory regarding the incident at Terminal 2 of the Murtala Muhammed International Airport, Lagos, the Federal Airports Authority of Nigeria (FAAN) wishes to provide the following update,” the statement read.

“Preliminary findings indicate that there was no fire at the terminal. The smoke observed within the affected area resulted from the discharge of the terminal’s FM-200 fire suppression system. The reason for the activation of the fire suppression system is currently being investigated,” FAAN stated.

The authority said normal operations had resumed at the terminal while investigations were ongoing to determine the cause of the incident.

“Normal operations have since resumed at the terminal, while detailed investigations are ongoing to determine the exact cause of the incident,” the statement added.

The authority thanked passengers, airlines, airport users and other stakeholders for their understanding and cooperation.

FAAN appreciated the understanding and cooperation of passengers, airlines, airport users and all stakeholders, and reiterated its commitment to the safety and security of all airport operations.

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