A Federal High Court in Lagos on Tuesday adjourned the money laundering trial of a Managing Director of the defunct Intercontinental Bank Plc., Erastus Akingbola, until June 13.
Akingbola was charged by the Economic and Financial Crimes Commission (EFCC) on an amended 22 counts bordering on money laundering, NAN reports.
The case, which was slated for continuation of trial on Tuesday, could not proceed as the judge was said to be on another official assignment.
The EFCC accused the defendant of converting an aggregate sum of 1.3 million dollars and 8.5 million dollars taken from the bank’s GBP NOSTRO account at Deutsche Bank in London.
According to the prosecution, the defendant knew that the sums represented proceeds of crime.
The alleged offences contravene the provisions of Sections 105(1) and 105(a) of the Investment and Securities Act, 2007.
One of the offences also contravenes the provisions of Sections 14(1) of the Money Laundering Prohibition Act, 2004.