Appeal Court upholds ex-Bank PHB MD Francis Atuche’s conviction

Bank PHB boss Francis Atuche

The Court of Appeal in Lagos on Thursday upheld the conviction of a former managing director of the defunct Bank PHB Plc Francis Atuche over N25.7billion fraud.

A three-man panel of the court made the decision upholding the June 16, 2021 judgment of Justice Lateefah Okunnu of the Lagos High Court, Ikeja.

Justice Sadiq Umar read an abridged decision of the court. The other justices on the panel are Justice Adebukola Banjoko and Justice Kayode Bada.

The court also upheld the conviction of Atuche’s accomplice and co-convict, Ugo Anyanwu, who was the bank’s former chief financial officer.

They also upheld the discharge and acquittal of Atuche’s wife, Elizabeth.

The defendants were arraigned by the Economic and Financial Crimes Commission (EFCC) in 2011 before Justice Lateefah Okunnu.