LONDON- Nigerian Access Bank ex-executive ordered to pay £600m damages

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Nigeria’s Access Bank has won a High Court ruling in London ordering an ex-executive to pay £600m to the bank.

Erastus Akingbola, a former managing director of Intercontinental Bank that was taken over by Access last year, was ordered to pay the sum after being found guilty of illegal share dealing.

Intercontinental was bailed out by the Nigerian central bank in 2009.

The judge ruled Mr Akingbola’s dealings had contributed to the bank’s collapse. Mr Akingbola had denied any wrongdoing.

 

Read it at the BBC

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