Court freezes N19.1 billion assets linked to jailed ex-Bank PHB boss Francis Atuche
The Ikeja Division of the Lagos State High Court has ordered the confiscation of N19.1 billion assets and funds linked to Francis Atuche, the jailed MD of the defunct Bank PHB.
Making this disclosure in a statement on Thursday, the EFCC said that Justice Lateefat Okunnu gave the order on Tuesday following an ex-parte application filed by the anti-graft agency last month.
Ms Okunnu in her ruling ordered the freezing of all bank accounts personally or jointly operated by Mr Atuche.
The N19.1 billion fund was deposited in 24 different banks Nigerian banks including Zenith bank, Union Bank, Wema Bank, Stanbic IBTC, FCMB, Eco Bank, Fidelity bank amongst other mainstream banks.
The EFCC in its application alleged that the jailed bank MD used 22 firms and 15 persons including Ugo Anyanwu, a former chief financial officer of the bank, to launder the funds.
Ms Okunnu barred Mr Atuche, his lawyer and other privies from withdrawing funds from the affected accounts and other accounts linked to the jailed bank boss.
The court also gave the concerned banks 48 hours to bring before it, the statement of accounts of Mr Atuche and the firms he used in looting the funds.
Mr Atuche was in June sentenced to six years imprisonment after he was found guilty of stealing N25.7bn.
The judge while jailing the ex-bank MD ordered him and his accomplice to return the money they stole.
We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.
More from Peoples Gazette
Politics
Katsina youths pledge to deliver over 2 million votes to Atiku
“Katsina State is Atiku’s political base because it is his second home.”
Abuja
Man jailed for stealing Abuja mosque praying mat
The prosecutor, Chinedu Ogada, told the court that Ali Zuma arrested Mr Idris on March 17 and took him to the police at Zuba, also in the FCT.
World
Figures show 2023 UK recession slightly weaker than first thought
The recession in the United Kingdom that entered in the latter half of 2023 was slightly less severe than first thought.
Lagos
Husband arrested for beating wife to death in Lagos: Police
The police command in Lagos says it arrested a man (name withheld) for allegedly beating his 40-year-old wife to death.
Anti-Corruption
Tinubu’s government to arraign Binance, others for tax evasion April 4
The EFCC said the information afforded to its team of investigators by Binance showed that the total trading volume from Nigeria in 2023 alone stood at $21.6 billion.
States
DHQ says troops killed 212 terrorists, captured 252 in one week in Anambra, Ebonyi, others
DHQ says troops killed 121 terrorists, apprehended 253 and rescued 244 kidnapped hostages in different operations nationwide in one week.
Politics
Enugu Assembly: Six Labour Party lawmakers defect to PDP
Six Labour Party members of the Enugu House of Assembly have officially defected to the Peoples Democratic Party.