Lagos Court Acquit Former Bank PHB MD, Francis Atuche From Trial Over N25.7bn Fraud

Date: 22-06-2015 3:23 pm (8 years ago) | Author: CLARA JANCITA
- at 22-06-2015 03:23 PM (8 years ago)
(f)

A Lagos High Court sitting in Ikeja today freed the former Managing Director of defunct Bank PHB, Francis Atuche who was on trial for allegedly stealing N25.7 billion.
Atuche and his wife, Elizabeth, were standing trial over alleged theft of N25.7 billion belonging to the bank (now Keystone Bank). They are being prosecuted alongside a former Chief Financial Officer of the bank, Ugo Anyanwu.
In September 2014, Atuche denied the theft charge preferred against him by the Economic and Financial Crimes Commission (EFCC).
The former bank chief had argued that being a staunch member of the catholic church, it was impossible for him to engage in theft.
He also told the court how he grew a mortgage finance company — Pinnacle Investment Ltd — and transformed it into Platinum Bank Plc.
Atuche said the bank had to merge with Habib Bank following the mandatory N25 billion recapitalisation policy of the Central Bank of Nigeria under the former Governor, Prof. Charles Soludo.
According to him, the merger gave birth to Bank PHB which became one of the strongest banks in Nigeria while he was the Chief Executive Officer, PM News reports.

Posted: at 22-06-2015 03:23 PM (8 years ago) | Hero
- akhaifo at 22-06-2015 03:30 PM (8 years ago)
(m)
Like seriously? just like that!!! so no case abi?
Posted: at 22-06-2015 03:30 PM (8 years ago) | Upcoming
Reply
- Mikexp at 22-06-2015 03:51 PM (8 years ago)
(m)
in short the billions is gone
Posted: at 22-06-2015 03:51 PM (8 years ago) | Gistmaniac
Reply
- nametalkam at 22-06-2015 03:53 PM (8 years ago)
(m)
correct business skills, to have been a bank manager he would have acquired the kind of skills that can safe him from situations like this, all he needs to know is how to settle the right people
Posted: at 22-06-2015 03:53 PM (8 years ago) | Addicted Hero
Reply
- dareper at 22-06-2015 03:53 PM (8 years ago)
(m)
As usual
Posted: at 22-06-2015 03:53 PM (8 years ago) | Hero
Reply
- echeeche at 22-06-2015 04:52 PM (8 years ago)
(m)
ok
Posted: at 22-06-2015 04:52 PM (8 years ago) | Hero
Reply
- Troublemenot at 22-06-2015 05:09 PM (8 years ago)
(m)
Change don come ohhh
Posted: at 22-06-2015 05:09 PM (8 years ago) | Gistmaniac
Reply
- Fashoney at 22-06-2015 05:44 PM (8 years ago)
(m)
Wonderful
Posted: at 22-06-2015 05:44 PM (8 years ago) | Gistmaniac
Reply
- freethinker at 22-06-2015 06:58 PM (8 years ago)
(m)
THIS MAN IS INNOCENT
HE HAS DONE THING WRONG
SETUP BY HATERS, BUT JUSTICE HAS PREVAIL
Posted: at 22-06-2015 06:58 PM (8 years ago) | Gistmaniac
Reply
- dis4real at 22-06-2015 08:00 PM (8 years ago)
(f)
Ok ooo
Posted: at 22-06-2015 08:00 PM (8 years ago) | Upcoming
Reply
- beneno at 22-06-2015 08:09 PM (8 years ago)
(m)
oooooooh
Posted: at 22-06-2015 08:09 PM (8 years ago) | Addicted Hero
Reply
- eoadex2003 at 22-06-2015 10:22 PM (8 years ago)
(m)
Strange world, wicked world
Posted: at 22-06-2015 10:22 PM (8 years ago) | Gistmaniac
Reply
- PoliticxGuru at 23-06-2015 12:51 AM (8 years ago)
(m)
wasted generation
Posted: at 23-06-2015 12:51 AM (8 years ago) | Hero
Reply
- elchymo at 16-08-2015 08:45 AM (8 years ago)
(m)
Ok
Posted: at 16-08-2015 08:45 AM (8 years ago) | Hero
Reply
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