A Lagos High Court in Ikeja, Lagos State, on Monday struck out the N25.7bn theft charges filed by the Economic and Financial Crimes Commission against a former Managing Director of the defunct Bank PHB, Francis Atuche.
Also freed of the same charges were Atuche’s wife, Elizabeth, and a former Chief Financial Officer of Bank PHB, Ugo Anyanwu, who had been standing trial alongside Atuche.
Justice Lateef Lawal-Akapo, in a ruling on Monday, said the EFCC erred when it filed the case before the State High Court rather than the Federal High Court.
The judge said he was bound by the decisions of the Court of Appeal in the cases of a former Managing Director of Finbank Plc, Mr. Okey Nwosu, and a former Managing Director of the defunct Intercontinental Bank, Dr. Erastus Akingbola.
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http://www.ionigeria.com/atuche-former-bank-phb-managing-director-set-free/
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