TUESDAY, 03 MAY 2011 16:49 

http://www.businessdayonline.com/NG/index.php/news/breaking-news/20869-efcc-detains-akingbola-10-others-over-money-laundering

The Economic and Financial Crime Commission (EFCC) has arrested and detained Erastus Akingbola, former chief executive officer (CEO) of Intercontinental Bank, and 10 others over a fresh allegation of stealing depositors’ funds running into billions of naira.  Others arrested along with Akingbola include: Sebastine Adigwe, former managing director, Afribank and Okey Nwosu of Finbank, along with eight other sacked directors of the three banks.

While stating that the suspects were arrested and detained in the Lagos office, the EFCC source explained that their arrest was said to be due to fresh information over their activities in their various banks.