CRISIS IN INTERCONTINENTAL BANK OVER MISSING N47BILLION
After the change of baton from the embattled Mr. Eratus Akingbola to Lai Alabi as the Group Managing Director of Intercontinental Bank, many controversies have rocked the financial institution. The most recent of the crisis is the alleged missing money from the bank’s treasury, which amounted to N47billion.
An insider in the bank, who prefers anonymity, revealed that though Akingbola was accused of using N120billion of depositors’ money to buy personal shares in Intercontinental Bank, N47billion was added to it by the new GMD, Lai Alabi who now allegedly goes around saying Eratus spent N167billion lavishly.
Impeccable sources divulged that the extra N47billion has torn top management staffers apart. Some of the top management staffers, who are loyal to Akingbola were said to have being sponsored by him to unearth the real document that revealed that it was N120billion that was used in purchasing the shares. It was also gathered that loyalists of the Alabi, who are allegedly placed at sensitive departments of the financial house, have vowed to cover all the transactions that may implicate the mentor.
The missing fund, according to those who should know, has led to serious crisis, which may soon show some of Akingbola’s loyalist the way out of the bank.
Akingbola was alleged to have acquired 27 percent of the bank’s shares using depositors’ funds and inter-bank takings with his company, Tropics Finance that is jointly owned by him and his wife last year.