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Tag: Atuche

  • EFCC re-arraigns Atuche, Ojo over financial misconduct

    The Economic and Financial Crimes Commission (EFCC) on Thursday re-arraigned former managing director of defunct Bank PHB, Francis Atuche and his Spring Bank counterpart, Charles Ojo, over financial misconduct.

    The re-arraignment followed the transfer of the case from Justice Rita Ofili-Ajumogobia, to a new judge, Justice Saliu Saidu.

    The News Agency of Nigeria (NAN) reports that the case had earlier been before Justice Akinjide Ajakaiye and Justice Binta Murtala-Nyako before it was transferred to Ofili-Ajumogobia.

    Murtala-Nyako, who was handling it before Ofili-Ajumogobia, was transferred to the Makurdi Division of the Federal High Court.

    NAN reports that Atuche and Ojo are standing trial on an amended 45-count charge bordering on reckless granting of credit facilities, financial impropriety and general banking fraud.

    When the case was called on Thursday, the charges were read to the accused again and they both pleaded not guilty.

    Consequently, counsel to Atuche, Chief Anthony Idigbe (SAN), urged the court to allow the accused to continue with the earlier bail granted by the previous trial judge.

    He said the first judge, Justice Ajakaiye, had admitted the accused to bail in the sum of N50 million each, with two sureties, each in like sum.

    According to Idigbe, the bail terms were subsequently adopted by Justice Murtala-Nyako on February 3, 2012 and then by Justice Ajumogobia on January 16, 2013.

    He, therefore, urged the court to exercise its discretion in allowing the accused to continue on the earlier bail.

     

  • Defunct Bank PHB ex-MD Atuche to be re-arraigned

    Defunct Bank PHB ex-MD Atuche to be re-arraigned

    The Economic and Financial Crimes Commission will on February 20 re-arraign former Managing Director of the defunct Bank PHB (now Keystone Bank Plc), Mr. Francis Atuche, for allegedly granting loans without collateral.

    He will be arraigned along with the bank’s former Executive Director Mr. Charles Ojo before Justice Saliu Siedu of the Federal High Court, Lagos.

    The re-arraignment was billed for yesterday, but was stalled because the prosecution’s lead counsel Mr. Kemi Pinheiro (SAN) is yet to be served with the hearing notice.

    Justice Seidu will be the fourth judge to hear the matter since it started in October 2009.

    Three judges had heard the case, the last being Justice Rita Ofili-Ajumogobia, who recently withdrew from the matter.

    The case was first handled by Justice Akinjide Ajakaiye. When Ajakaiye retired, Justice Binta Nyako took over.

    When Justice Nyako was transferred, Justice Ofili-Ajumogobia took over. On each occasion, Atuche was re-arraigned and trial started de novo (afresh).

    The former bank chief was re-arraigned before Ofili-Ajumogobia on November 14, 2012 on 45 counts of banking malpractices, which included granting reckless loans without collateral.

    The matter is different from two separate theft cases which Atuche is currently facing along with others, including his wife, Elizabeth, at the Lagos High Court in Ikeja.

  • Atuche wants theft charges dismissed

    Atuche wants theft charges dismissed

    Former Managing Director of defunct Bank PHB, Francis Atuche, on Wednesday asked a Lagos High Court, Ikeja, to dismiss the N4.2 billion theft charges preferred against him by the Economic and Financial Crimes Commission (EFCC).

    The request to quash the charges was contained in an application filed by his counsel, Mr. Abubakar Shamsudeen before Justice Adeniyi Onigbanjo of the Lagos High Court, Ikeja.

    Atuche’s application to quash the charges was based on a judgment delivered by the Court of Appeal, Lagos Division, on November 21, which dismissed the theft charge preferred against a former managing director of Finbank Plc, Mr. Okey Nwosu and some others.

    The Court of Appeal had in Nwosu’s case, held that the Lagos High Court lacked the jurisdiction to entertain the charges preferred against him.

    The court had ruled that the state High Court cannot adjudicate on the charges because they emanated from capital market transactions.

    The court held further that a state High Court lacks jurisdiction to entertain the charges which are within the exclusive jurisdiction of the Federal High Court.

    The EFCC had charged Atuche to court alongside a former director of Bank PHB, Funmi Ademosun.

    The commission had alleged that they stole N4.2 billion belonging to Caverton Helicopters Limited in September 2007.

    Atuche and Ademosun had pleaded not guilty to the charges.

     

     

  • Atuche seeks dismissal of N25.7b theft charge

    A Lagos High Court, Ikeja will on December 16 rule on an application by a former Managing Director of defunct BankPHB, Mr. Francis Atuche seeking to dismiss the N25.7billion theft charge against him and his wife, Elizabeth, for lack of jurisdiction.

    Atuche hinged his request on the decision of the Appeal Court, which struck out a theft charge against former Managing Director of Fin Bank Okey Nwosu, that was pending before an Ikeja High Court for lack of jurisdiction.

    The Appeal Court struck out the Charge against Nwosu because there are similar charges of stealing pending before the Federal and state High Courts.

    The appellate court also ruled that the two charges, even though they alleged stealing, related to the capital market, which is on item in the exclusive list of the Federal Legislature.

    It held that the state high court lacked jurisdiction to entertain the charges, which are within the exclusive jurisdiction of the Federal High Court.

    In line with the decision, Atuche and his wife, who are being prosecuted alongside a former Chief Financial Officer of the bank, Ugo Anyanwu, over alleged N25.7 billion theft by the Economic and Financial Crimes Commission (EFCC), are asking the high court to decline the charge.

    In a November 29 motion on notice brought pursuant to Sections 6 (6), 230-248, 270-274 and 287(2) of the Constitution, the defendants submitted that the subject matter of the charge against them revolves around the issue of acquisition of shares as disclosed in all the 27 counts charge.

    They also argued that the control of issue of shares is Item 12 on the Exclusive Legislative list of the 1999 constitution and same is exclusive to the jurisdiction of the Federal High Court by virtue of Section 251(1) of the 1999 constitution and section 7 (3) of the Federal High Court Act, 2004 Cap F12.

    At the last hearing, the applicants contended in the motion filed by their counsel, Chief Anthony Idigbe (SAN) and supported with a four-paragraph affidavit deposed to by one, Martins Nwankwo, that the Lagos High Court does not have the power and jurisdiction to review and make judicial pronouncements on most of the exhibits tendered so far; the exhibits being subject of Item12 of the Exclusive legislative list .

    Atuche further contended that the court cannot reach a fair, just and whole decision at the end of the trial without considering the Exhibits bordering on capital market issues upon which the court lacks jurisdiction to adjudicate by virtue of the 1999 constitution.

    •But the prosecution, in their notice of preliminary objection to the motion filed by Kemi Pinheiro (SAN) urged the court to dismiss in limine ( from beginning) for being scandalous, frivolous and vexatious.

    The EFCC in the motion filed December 3, also contended that the plaintiffs were gambling with the process of the court contrary to the supreme court decision in Abubakar v. Yar’adua, (2008) 4 NWLR (Pt.1120).

    The trial judge, Justice Lateefat Okunnu, has adjourned further hearing in the matter till December 16.

     

  • Atuche: Court admits board resolutions of three firms

    An Ikeja High Court, Lagos  presided by Justice Lateefat Okunnu has admitted board resolutions of three companies as exhibits in the ongoing trial of  the former Managing Director of defunct Bank PHB, Francis Atuche and two others over alleged stealing.

    The firms, namely, Futureview Financial Services Ltd, Tradjeck Ltd and Extra Oil Ltd  were  fingered in the deal that resulted to the arraignment.

    Justice Okunnu had at the last adjourned date given the Economic and Financial Crimes Commission (EFCC) a week to produce the  documents.

    Chief Anthony Idigbe (SAN), who led the defence team, had told the court that the documents were relevant to the charge as they related to a N10.9 billion credit Atuche allegedly granted the firms without their knowledge.

    He had informed the court  that the original copies of the said documents were in the custody of the EFCC.

    The order for the EFCC  to produce the documents  followed  the anti-graft agency’s inability  to comply with a subpoena order of  October 2 issued  on the EFCC to produce the documents before the court on November 1.

    But at the continuation of the trial, an EFCC’s operative,  Mr Boniface Uzoechi, an Assistant Supritendent of Police tendered the documents before the court.

    They were subsequently admitted as exhibits by the trial judge and marked Exhibits D93-D95.

    Further hearing in the matter has been adjourned till November 18 to enable the defence to peruse the documents alongside Bank PHB Annual Reports for 2006,2007 and 2008 as well as minutes of Bank PHB Boards’ meetings between May 2007 and September 2009 earlier admitted as exhibits by the court.

    Atuche and his wife, Elizabeth, are being prosecuted, alongside a former Chief Financial Officer of the bank, Ugo Anyanwu for alleged  N25.7 billion theft.

     

  • Atuche: EFCC ordered to produce trial document

    Atuche: EFCC ordered to produce trial document

    Justice Lateefat Okunnu of a Lagos High Court, Ikeja, on Friday ordered the Economic and Financial Crimes Commission (EFCC) to produce some documents relating to the on-going trial of former managing director of Bank PHB, Mr. Francis Atuche, within seven days.

    The documents which the court ordered the commission to produce include board resolutions of four companies – Integrated Services Limited, Futureview Financial Services Limited, Tradjeck Limited and Extra Oil Limited.

    The judge had on October 2 issued a subpoena on the EFCC, and ordered the commission to produce the documents on or before the next sitting of the court on November 1.

    Atuche and his wife, Elizabeth, were charged to court by the EFCC, alongside a former Chief Financial Officer of the bank, Ugo Anyanwu .

    They are standing trial for allegedly stealing N25.7 billion belonging to Bank PHB (now Keystone Bank).

    At the resumed trial of the matter on Friday, Atuche’s counsel, Chief Anthony Idigbe (SAN), asked the court to order the EFCC to produce the original documents.

    Chief Idigbe said the documents are very relevant to the charge as they relate to a N10.9 billion credit facility Atuche had allegedly granted to the companies, without their knowledge.

    He alleged that the original copies of the said documents were in the custody of the EFCC.

    An EFCC official, Mr. Boniface Uzoechi, who reacted on behalf of the prosecution, admitted that the documents are in the custody of the commission.

    Uzoechi however told the court that the said documents were at the agency’s headquarters in Abuja and only got to know that the court was sitting on Friday.

     

  • Alleged theft: Judge assures Atuche of fair trial

    Alleged theft: Judge assures Atuche of fair trial

    Justice Lateefat Okunnu of the Lagos High Court, Ikeja, on Wednesday assured the former managing director of Bank PHB, Mr. Francis Atuche, of a fair trial.

    Okunnu gave the assurance following the claim by Atuche’s counsel, Chief Anthony Idigbe (SAN) and Mr. Tayo Oyetibo (SAN), that their client was not being given fair trial.

    The News Agency of Nigeria reports that Atuche and his wife, Elizabeth, are standing trial for allegedly stealing N25.7 billion belonging to Bank PHB (now Keystone Bank).

    They were charged the Economic and Financial Crimes Commission (EFCC), alongside a former Chief Financial Officer of the bank, Mr. Ugo Anyanwu.

    During Wednesday’s proceedings, Oyetibo complained that the EFCC was creating an impression that Okunnu would convict the defendants.

    The counsel said that the commission had, on October 22, asked Justice Sarah Ofili-Ajumogobia of a Federal High Court, Lagos, where the defendants are also being prosecuted, to excuse herself from the matter.

    “The impression being created by the prosecution is worrisome.

    “At the Federal High Court, the judge had excused herself because they told the court that she would not jail the defendants,” he said.

    On his part, Idigbe faulted Okunnu for awarding N10, 000 cost each against himself and Oyetibo, for their absence in court on October 3.

    According to him, both lawyers had formerly writing to the court, giving reasons for their absence, hence there was no need to award the cost.

    He sought the leave of the court to appeal against the order at the Court of Appeal and to stay execution of the order, pending the decision of the appellate court.

    Idigbe also asked Okunnu to excuse herself from the case, alleging that “the court has descended into the arena.”

    Counsel to the EFCC, Mr. Kemi Pinheiro (SAN), did not oppose the application.

    In her ruling, Okunnu granted Idigbe’s application, but refused to excuse herself from hearing the case.

     

  • EFCC asks judge to hands off Atuche, Ojo’s trial

    EFCC asks judge to hands off Atuche, Ojo’s trial

    The Economic and Financial Crimes Commission (EFCC) has asked a judge of the Federal High Court, Lagos, Justice Rita Ofili-Ajumogobia, to withdraw from adjudicating the trial of former Managing Directors of Bank PHB Plc and Spring Bank Plc, Francis Atuche and Charles Ojo respectively.

    The trial was fixed for Tuesday, but it did not go on, and no new date was fixed.

    After a brief meeting with the judge in chambers, Atuche’s lawyer, Chief Anthony Idigbe (SAN), came out of the court, visibly angry.

    Speaking to reporters outside the courtroom, he accused the EFCC of “selecting” which judges would try their cases.

    “EFCC is choosing which judge to hear their cases,” Idigbe alleged.

    Atuche and Ojo were among bank chiefs sensationally arraigned in 2009 for allegedly granting loans without security.

    It was learnt that EFCC requested that the case be transferred to another judge because Justice Ofili-Ajumogobia is from the same state (Delta) as the first defendant (Atuche).

    It was also learnt that the judge indicated that she would return the case-file to the Chief Judge, Justice Ibrahim Auta for re-assignment to another judge.

    When asked what transpired in the chambers, EFCC’s lawyer, Mr. Kemi Pinheiro (SAN), declined comments.

    He also did not elaborate when asked why the case did not go on again, but said his witnesses who were on subpoena were in court.

    Asked if it was true that the case-file would be returned to the Chief Judge for re-assignment to another judge, Pinheiro said: “Was it announced in court?”

    Atuche and Ojo were first arraigned on October 20, 2009 on 45- count charge.

    They were accused of granting questionable loans to the tune of N125 billion without board approval.

    Their case has gone through two judges of the Federal High Court, before their fresh re-arraignment on November 15 last year before Justice Ofili-Ajumogobia.

     

  • Court adjourns Atuche’s trial till October 23

    Court adjourns Atuche’s trial till October 23

    A Lagos High Court, Ikeja, on Friday adjourned the trial of a former managing director of Bank PHB, Francis Atuche, till October 23.

    Justice Lateefat Okunnu adjourned the case to enable Atuche’s lawyers to examine some documents relating to the trial.

    The documents were presented on Friday by Keystone Bank which was subpoenaed by the court.

    Addressing the court, Atuche’s counsel, Mr. Tayo Oyetibo (SAN), said the documents were vital to the defence.

    Oyetibo, therefore, asked for an adjournment to enable the defence to examine the documents.

    The News Agency of Nigeria (NAN) reports that Atuche and his wife, Elizabeth, are standing trial for allegedly stealing N25.7 billion belonging to Bank PHB (now Keystone Bank).

    They were being prosecuted by the Economic and Financial Crimes Commission (EFCC) alongside a former Chief Financial Officer of the bank, Ugo Anyanwu.

    The accused had earlier pleaded not guilty to the charges.

  • Atuche: EFCC, Utomi disagree over loan ratification

    Atuche: EFCC, Utomi disagree over loan ratification

    The Economic and Financial Crimes Commission (EFCC) on Friday faulted Prof. Pat Utomi’s testimony that Bank PHB’s Board of Directors ratified some loan facilities granted by the bank’s former managing director, Francis Atuche.

    Mr. Kemi Pinheiro (SAN), Counsel to the EFCC, faulted the claim while cross-examining Utomi, a former Executive Director of Bank PHB, before a Lagos High Court, Ikeja.

    The News Agency of Nigeria (NAN) reports that Utomi is the first defence witness in the trial of Atuche and his wife, Elizabeth.

    The duo are being prosecuted alongside a former Chief Financial Officer of the bank, Ugo Anyanwu, before Justice Lateefat Okunnu.

    They were arraigned by the EFCC for allegedly stealing N25.7 billion belonging to Bank PHB (now Keystone Bank).

    Utomi had on Monday testified that the N100 billion loan facilities granted to some companies were ratified by the board members at a meeting held on July 9, 2008.

    Cross-examining the witness, Pinheiro argued that another board of directors meeting held on August 25, 2010, indicated that the loans were never ratified.

    “The same board questioned the facility and denied knowledge of the ratification,’’ he said.

    Pinheiro said the purposes for which the loans were obtained were not contained in the minutes of meeting Utomi tendered before the court.

    He said the purported ratification was approved by Utomi and other board members because they had obtained loans directly and indirectly from the bank.

    Pinheiro said that Utomi obtained personal loans of N40 million and N10 million in three separate instances from Bank PHB during Atuche’s tenure.

    Responding, Utomi insisted that the board ratified the loans following the presentation of the bank’s credit committee.