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Lai Alabi, Former Intercontinental Bank MD Arrested


Not quite 24 hours after a British Court sentenced former Delta State Governor, James Ibori to 13-years imprisonment, the Special anti-fraud unit of the Nigerian police in Lagos, on Wednesday arrested the former managing director of of InterContinental Bank, Mahmoud Lai Alabi for fraud relating to a questionable loan write off.

Mr. Alabi was arrested based on a petition submitted to the unit by the brother of a whistleblower who was allegedly assassinated by hired killers for revealing shady dealings involving the once powerful governor of Kwara state, Dr. Bukola Saraki.

Street Journal had revealed the role played by the CBN Governor, Lamido Sanusi in ensuring that Intercontinental Bank was bought over by his pals. Many started reading the handwriting on the wall when Mahmoud Alabi, who headed the Songa Farms run by Kwara State then was made the MD.

One of Alabi’s first duties was the waiver given to the former Kwara State Governor.



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