The Economic and Financial Crimes Commission (EFCC) on Thursday quizzed a former Managing Director of defunct Intercontinental Bank Plc, Mahmoud Alabi over his role in the sale of the bank to Access Bank.
Alabi was grilled for hours by a crack team of operatives assembled by EFCC to investigate the circumstances surrounding the controversial transaction, reports Vanguard.
Alabi was grilled following a petition by former a MD and chief executive officer of the bank, Erastus Akingboba, that due process was not followed in the sale of the bank.
Intercontinental Bank was acquired by Access Bank, in the wake of reforms initiated in the banking sector, by former Central Bank of Nigeria (CBN) Governor, Sanusi Lamido Sanusi, who is now the Emir of Kano.