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Akingbola was a doyen of the banking system, a chairman of the Lagos Stock Exchange and many other industry bodies. He says he got advance notice of the actions of the central bank and was out of the country when the Economic Financial Crimes Commission swooped on the bankers and put them behind bars. By this point, Akingbola had decamped to London, where he intends to stay until he can return to the country in safety. He spoke to Euromoney at a hotel in central London.
The action of the central bank was well intended, but the ramifications were not well thought through. They did not take a proper account of unintended consequences.
For any discerning person it smells for the following reasons. First, the process of the investigation was abused. Second, the actions defaced the appearance of Nigerian banking.