A
Federal High Court in Lagos on Monday held that the judgment of a London court
ordering the former Managing Director of the defunct Intercontinental Bank,
Erastus Akingbola, to pay Access Bank £654 million (N212.2 billion) is not
enforceable in Nigeria.
Justice
Chukwujeku Aneke, who made the order, dismissed an application filed to that
effect by Access Bank.
A
Lagos High Court in Igbosere had also rejected a similar application filed by
Access Bank. The order of the Lagos High Court had prompted Access Bank to
approach the Federal High Court.
The High
Court of Justice, Queens Bench in London, had on August 1, 2012, ordered
Akingbola to pay Access Bank £654 million over some fraudulent transactions
