June 17, 2021
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Ex-bank chief bags six years jail term for N25.7bn fraud

Posted by News Express | 17 June 2021 | 313 times

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•Jailed former Bank PHB (now Keystone Bank) MD, Francis Atuche

An Ikeja High Court in Lagos has sentenced Francis Atuche, a former Managing Director of the defunct Bank PHB (now Keystone Bank) to six years’ imprisonment for defrauding the bank of N25.7 billion.

In a 12-hour judgment, Justice Lateefa Okunnu also sentenced Ugo Anyanwu, a former Chief Financial Officer of the bank to four years’ imprisonment.

The judge held that the Economic and Financial Crimes Commission proved beyond reasonable doubt that the convicts committed fraud.

Okunnu, however, discharged Atuche’s wife Elizabeth, who was facing trial alongside the duo. (NAN)


Source: News Express


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