EFCC quizzes Alabi as sale of Intercontinental Bank to Access Bank faces fresh scrutiny

A former managing director of intercontinental Bank Plc, Mr. Mahmoud Lai Ababi, was on Thursday quizzed by the anti- graft agency, the Economic and Financial Crimes Commission, EFCC, in connection with the sale of the defunct second generation bank to Access Bank Plc.
According to sources, Alabi was grilled by a team of operatives assembled to clear the clouds probe into the controversial sale of the bank.
Erastus Akinbola, founder and pioneer managing director of the bank, who was eased out in the wake of the banking sector reform by former CBN Governor, Sanusi Lamido Sanusi, allegedly petitioned the Commission, claiming the bank was forcefully taken over from him through a web of conspiracy that reeks of fraud and brinkmanship.
In the petition dated February 9, 2014, Akingbola revealed the intrigues and private conversations between himself, billionaire businessman, Aliko Dangote, Senator Bukola Saraki and Mallam Sanusi before the former CBN Governor eased him out of the bank.
According to the petition, Saraki engineered the takeover of the bank the bank by CBN through his closeness to the fomer CBN Governor, Mallam Sanusi Lamido Sanusi, whom he helped to land the CBN job.
The EFCC head of media and publicity, Wilson Uwajaren, who confirmed the interrogation of Alabi at the Abuja headquarters of the commission, stated that investigation into the case was going on.