EFCC re- arraigns PHB bank manager and two others in court…here’s what to know
Photo credit: EFCC website
On Monday, 16th of December, the Economic Financial Crimes Commission (EFCC) Lagos Zonal Directorate re-arraigned defunct PHB (now Keystone Bank) manager Francis Atuche, Nnosiri Joachim, a.k.a. Ifeanyi, and Uguru Onyike before Justice O. O. Abike-Fadipe of the Special Offences Court sitting in Ikeja, Lagos.
These three were brought before the court on a nine-count charge of conspiracy to commit felony and forgery.
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What to know about the accused
Francis Atuche was the former managing director of the defunct Bank PHB plc. His alleged criminal activity was stated in 2009, when the Central Bank of Nigeria (CBN), under the leadership of Sanusi Lamido, declared Bank PHB as distressed.
It was alleged that the duo carefully planned and executed bank fraud by using well-recognized stockbrokers to transfer money under the guise of loans and shares.
After 10 years of EFCC tailing on the matter, he was convicted of N25.7 billion fraud in June 2021 alongside Ugo Anyanwu, the bank’s CFO, by Judge Lateefat Okunnu when EFCC proved beyond reasonable doubt their crime in court.
Though Atuche was arraigned with his wife, the wife found the wife not guilty when no transactional evidence was traced to her.
However, a Lagos high court freed Atuche from the criminal records in July 2015.
But in August of the same year, EFCC refiled a suit for the case.
TVC News reports that “They were originally arraigned before Justice Habeeb Abiru before he was upgraded as a Justice of the Court of Appeal. The case consequently started afresh with Justice Adeniyi Onigbanjo, who has now retired, prompting the transfer of the case file to Justice Abike-Fadipe.”
About the recent re-arraignment by EFCC
The Economic Financial Crimes Commission says that “Atuche’s fresh issues with the EFCC started when he recently contacted Nnosiri, an office assistant with Keystone Bank’s Central Sharing Services Centre in Lagos, to deliver some alleged forged documents to the Bank’s corporate headquarters in Lagos for onwards presentation in court as exhibits in an ongoing case between him and the commission before Justice Lateefat Okunnu.”
One of the counts against them reads: “Nnosiri Joachim (a.k.a. Ifeanyi), on or about the 4th day of March 2013, in Lagos, within the Ikeja Judicial Division, with intent to defraud, knowingly and fraudulently used a false document titled ‘Board Resolution of Trajek Nigeria Limited” dated 15th December 2007, which you purported to have been duly signed by one Elizabeth Ebi (a director of Trajek Nigeria Limited) to Keystone Bank Limited as genuine.”
EFCC says, “The forged documents that had been missing since October 2009 are the board’s resolutions of Future View Securities Limited, Extra Oil Limited, and Trajek Nigeria Limited.
However, the alleged individuals pleaded not guilty to the charges.
Fanen Anum, EFCC prosecution counsel, told the court that the matter was beginning anew and requested a trial date.
The defendant counsels for the alleged trio, Anthony Ejere and Clement Onwuenwunor, also pleaded with the court to allow their client to continue with the bail of N50m.
The ruling judge, Justice Fadipe, upheld their request and adjourned the case till May 6, 2025, when the trial will commence.
