N47.1bn theft: Court grants Akingbola stay of proceedings
(Nigeria) A former Managing Director of the defunct
Intercontinental Bank Plc, Erastus Akingbola, on Monday asked a Lagos State
High Court sitting in to stay
proceedings in his N47.1 billion theft trial.
His co-defendant, Bayo Dada, General Manager of Tropics
Securities Ltd, also filed a similar application before Justice Lateef
Lawal-Akapo.
The defendants are being prosecuted by the Economic and
Financial Crimes Commission, EFCC.
During Monday's proceedings, Akingbola's counsel, informed the court that the defence had filed
an application asking the court to stay further hearing in the trial.
Counsel said the application was premised on Akingbola's
appeal against Lawal Akapo's ruling on May 2, where the court assumed
jurisdiction on the matter.
He said that the Notice of Appeal was already before the
Court of Appeal, Lagos Division, and that the record of proceedings had already
been transferred to the appellate court.
According to him, the Court of Appeal has already fixed July
3 for hearing and it will be in the interest of justice for the lower court to
wait for the outcome of the proceedings.
Counsel said that the application for stay of proceedings
had been served on the prosecution and the defence was waiting to file its
reply on points of law and asked the court for an adjournment and also to
vacate the July 24 and 25 trial dates fixed for the matter.
On his part, Dada's counsel, aligned himself with Akingbola's
counsel submission and urged the court to adjourn proceedings pending the
hearing and determination of Akingbola's appeal.
Responding, the EFCC counsel, said he was only served the
application on Monday and that he was ready to give an oral argument to
accelerate proceedings.
EFCC argued that the Administration of Criminal Justice Law
of Lagos State 2011 prohibited the court from entertaining such applications.
``The court cannot hear the application through the back
door; the business of today is for trial to commence,’’ it added.
In a short ruling, the judge acceded to the request of the
defence counsel and adjourned the matter until July 11 for argument.
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