BREAKING: COURT FREES FORMER BANK PHB BOSS, ATUCHE AND OTHER OVER N25BN FRAUD CASE

A Lagos High Court in Ikeja has struck out a N25.7 billion criminal charge brought against Francis Atuche, a former Managing Director of the now defunct Bank PHB.
The Economic and Financial Crimes Commission had instituted a 27-count charge including stealing and conspiracy against Mr. Atuche; his wife, Elizabeth; and the bank’s Chief Financial Officer, Ugo Anyanwu.
In his ruling, Judge Lateef Lawal-Akapo said the EFCC failed to prove that the defendants stole money from the bank.
Details later…