16th June, 2017
Akin Kuponiyi
A Federal High Court, sitting in Lagos, southwest Nigeria on Friday fixed the trial of the Managing Director of Integrated Microfinance Bank Plc, Simon Ademola Akinteye, and his deputy, Gabriel Adepoju, till June 22, 2017.
Akinteye and Adepoju were arraigned before the court by the office of the Attorney-General of the Federation and Minister for Justice, on a 10-count criminal charge of granting over $166.9 million to themselves without collaterals.
The two bank chiefs in a criminal charge number FHC/L/234c/16, were alleged to have recklessly without collateral approved credit facilities running into $166.9 million, and N33.250 million to themselves and one Mrs. Temitope Muhammed Imam.
Akinteye was alleged to have at different times withdrew from the bank’s account the total sum of N11 million and diverted it into his personal company named ‘Deblad Nigeria Limited’.
He was also alleged to have unlawfully withdrew $166 million and remitted same to the account of one Temitope Muhammed Imam, domiciled with Citi Bank N. A. of Utica/Clarkson, 702, Utica Avenue, Brooklyn New York, United States of America; and another account domiciled with Washington Mutual, 391, Eastern Parkway, Belford Avenue, New York, USA.
While the second accused, Adepoju, was alleged to have withdrawn a total sum of N22.250 million, and diverted same to a limited liability company, Gad Press Limited.
The offences committed by the accused bankers are contrary to sections 18 (1)(a) and 18(3) and 15(1)(a)(I) Banks and Other Financial Institution Act Laws of the Federation of Nigeria, 2004, and punishable under Section 18(2) and 16(1)(a) of the same Act.
They were admitted to bail in the sum of N10 million with two sureties each, after they pleaded not guilty to all the charges
The court ordered that the sureties must not be less than Executive Directors in a commercial bank, with three years tax payment to the Government.
Thereafter the court ordered that they should be remanded in Prison’s custody pending the perfection of their bail conditions .
However, at the resumed hearing of the matter today, lawyer to the two bank chiefs, Mr. C. O. J. Joseph (SAN), pleaded with the court for bail variation.
In urging the court for the bail variation, Joseph (SAN) told the court that his clients have not been able to meet the bail conditions, as they could not get any bank’s executive directors to stand for them.
He urged the court to vary the condition of providing bank’s Executive Director, to personal recognition or civil servants.
He said; “the defendants have made efforts in meeting the bail conditions but all to no avail.
“The court could either allow them on self-recognisance, civil servants instead of Executive Directors of a bank”, the SAN pleaded.
In response, the prosecutor, Mrs. Charles Okoli, said she would not oppose the application, but urged the court to consider the nature of the charges against the accused before granting the application.
Consequently, Justice Mojisola Olatoregun, adjourned the matter till June 22, for ruling and commencement of trial of the accused.