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Author Topic: Ibru/AKingbola`s Loot – EFCC Vindicated

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Ibru/AKingbola`s Loot – EFCC Vindicated
OP: January 07, 2010, 12:04:19 PM
Ibru/AKingbola`s Loot – EFCC Vindicated

When the Economic and Financial Crimes Commission, EFCC, declared the sacked bank executives by CBN Governor wanted, there was mixed feelings regarding the issue. When the arrest was made initially, the Urhobo nation and other groups including individuals described and attributed the whole exercise to political with a colouration of religious. It was even tagged northern agenda. Today, we now know better that the exercise was only nationalistic.


Ibru and Akingbola were alleged to have abused their offices by granting loans without following due process or collateral, money laundering, looting of depositor’s funds and both attempted running away. Oceanic bank former chief executive officer was reported as being unlucky as she ran out of luck and got caught while attempting to leave the country. Akingbola of Intercontinental bank was able to escape using Jimoh Ibrahim’s private jet and fled on exile but EFCC then, said they were going to use INTERPOL to get him to face the music.  While on exile, Akingbola felt the best thing to do was to sue the law enforcement agency asking the federal court to reinstate him and demanded 50 billion naira damages.


The usual saying of what you sow is what you reap was what reflected as EFCC handled and prosecuted the case. I actually wonder why people were raising eye brow when the sacked bank executives were being prosecuted for their illegal bank transaction and acquiring of unmerited wealth through depositors funds   . If not, how do we explain Cecilia Ibru who is currently  facing 25 count-charge by the Economic and Financial Crimes Commission with sustainable investigation by the EFCC  have alleged ownership of about 52 property being used by the bank as its branches nationwide.Besides this, Mrs. Cecilia Ibru has, in a document detailing the property already traced to her, was said to be the landlord to the bank in which her family owns substantial interest. About N29 billion is said to have been accruing to her annually from the deal. She also has some properties at choice location attracting as much as 1.3 billion which she has collected five years upfront on them. Her alleged property at No 270 Ozumba Mbadwe avenue, Lagos was said to have gone for N288 million, while another portion of the same building got her another N75 million from the bank.

I could go on and on mentioning how these ex banker facing prosecution by the anti corruption commission acquired her immense wealth through fraudulent operations over the years.

As far as am concern, these are pure looting. The initial concern by people that the two ex bank executives were being tried unnecessary due to sentiments are wrong as the handwriting is on the wall and the story is clear with fact for one to ponder on. We have finally seen the truth and know now that she was not innocent as claimed by her loyalist earlier. EFCC did the right thing by prosecuting Ibru and Akingbola and arresting debtors of the affected banks to pay back their debts.

With a country like NIGERIA who is fighting to regain her face from the stigmatization of most corrupt countries can achieve its campaign of rebranding the nation through our judicial sector in administrating judgment accordingly. If money meant for the poor masses were used by individuals to enrich themselves, then the law needs to take its cost.

I also learnt that during Ibrus trial yesterday 4th January 2010 at the federal high count in Lagos, she reported fainted when the charges by the anti  corruption agency were read to her. Nemesis is already catching up with her before judgment. Am really happy that at the end of these all, it’s clear that these group of individuals like the likes of IBRU and AKINGBOLA have concrete evidence against them for looting of depositors funds and madam Ibru detected long hidden properties worth billions of naira is an eye opener to us all and vindicated the EFCC AND ALSO SHORTING THE MOUTH OF THOSE WHO WANTS TO FUSTRATE THEIR EFFORT. One thing is certain, if she escapes the rot of the law the way corrupted popular ex Delta governor did because of corrupt judicial conspiracy, she will not escape the rot of GOD because of prayers of poor masses deposited funds. ene uni abuja  
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