The Cross River State House of Assembly yesterday suspended for three months 10 councillors in Calabar South Local Government Area for allegedly being members of cult groups.

Their suspension followed a two-point resolution by the House after deliberating on a letter from Governor Liyel Imoke, requesting that the councillors be sanctioned.

The governor had on Monday informed the lawmakers that investigations revealed that the leadership of the council was involved in the recent "heartless killings" during some disturbances in the metropolis.

The letter added that the 10 councillors were identified as sponsors of the carnage.

Last Friday, some 156 government officials, including Imoke and his deputy, Effiok Cobham, had publicly taken oath to renounce secret cults.

In a unanimous decision, the House approved the suspension of the councilors.

The lawmakers condemned the recent wave of cult activities in the state.

Banks debts: EFCC’s recovery hits N87b

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•Suspects Akingbola might still be in Nigeria
EFCC Boss

The Economic and Financial Crimes Commission yesterday confirmed that it has recovered N87,045,603,547.96 (87 billion) from debtors owing five banks in the country.

About 205 debtors have a portfolio of N747 bilion non-performing loans.

Head of Media and Publicity of EFCC, Femi Babafemi, said the commission’s operatives were still on the field chasing more debtors.

He said the latest recoveries represent an increase of over N17billion from the previous N70 billion.

He gave the breakdown of the recovered loans as follows: Oceanic International Bank (N21,735,000,000); Intercontinental Bank (N28.1bilion); Afribank (N26,078,477,857,10); Finbank (N3, 306,821,061,76); and Union Bank Plc (N7,825,301,629.10k).

Babafemi said: "We have made appreciable progress in our recovery drive. As we are talking more recoveries are still being made.

"That is why our Director of Operations, Mr. Steven Otitoju, and all the senior operatives are still in Lagos."

On defaulters, he said: "Some of those that defaulted are presently on trial in court and as many are defaulting, the same fate awaits them."

There were strong indications yesterday that the EFCC is suspecting that the former Chief Executive Officer of Intercontinental Bank Plc, Mr. Erastus Akingbola, might still be holed up in the country.

A highly-placed source in the commission, told The Nation "With the denial by the Metropolitan Police that Akingbola has not reported to them, we are working on clues that he is still in Nigeria.

"So, our operatives are permanently on surveillance for him."

"We have said it that his statement on Sunday might be a diversionary ploy by the former Chief Executive Officer and we have been vindicated by the Met Police.

"The commission is still searching for his hideout. We advise Akingbola to come out of hiding in his own inte.