Monday, September 15, 2025
  • Who’sWho Africa AWARDS
  • About Time Africa Magazine
  • Contact Us
Time Africa Magazine
  • Home
  • Magazine
  • WHO’SWHO AWARDS
  • News
  • World News
    • US
    • UAE
    • Europe
    • UK
    • Israel-Hamas
    • Russia-Ukraine
  • Politics
  • Crime
  • Lifestyle
  • Sports
  • Column
  • Interviews
  • Special Report
No Result
View All Result
Time Africa Magazine
  • Home
  • Magazine
  • WHO’SWHO AWARDS
  • News
  • World News
    • US
    • UAE
    • Europe
    • UK
    • Israel-Hamas
    • Russia-Ukraine
  • Politics
  • Crime
  • Lifestyle
  • Sports
  • Column
  • Interviews
  • Special Report
No Result
View All Result
Time Africa Magazine
No Result
View All Result
  • Home
  • WHO’SWHO AWARDS
  • News
  • Magazine
  • World News

Home » News » N25.7bn fraud: Supreme Court Upholds Six Year Conviction of Ex- Bank PHB, MD Atuche

N25.7bn fraud: Supreme Court Upholds Six Year Conviction of Ex- Bank PHB, MD Atuche

June 30, 2024
in News
0
540
SHARES
4.5k
VIEWS
Share on FacebookShare on Twitter

ReadAlso

No Content Available

The Supreme Court of Nigeria, on Friday, June 28, 2024 upheld the conviction and six-year sentence of the former Managing Director of the now defunct Bank PHB, Francis Atuche by the Court of Appeal, Lagos Division over a N25.7 billion fraud

In a unanimous judgment by a five-member panel which was prepared by Justice Habeeb Abiru and delivered by Justice Moore Adumein, the apex court held that Atuche has repeatedly failed to prove beyond reasonable doubts why the concurrent judgments of the two lower courts should be tampered and upturned.
“Where the finding of a trial court on the demeanour of a witness is supported by oral and documentary evidence tendered at the trial, as in the present case, an appellate court has no business tampering with the decision of the trial court. This court has not been given any reason to tamper with the concurrent findings of the two lower courts in this appeal, hence the appeal is totally lacking in merit, it is hereby dismissed”, the court said.
At the court of first instance, Justice Lateefat Okunnu of the Lagos State High Court sitting in Lagos on June 16, 2021 ruled that the EFCC had convincingly proven its case beyond a reasonable doubt and subsequently sentenced Atuche to 12 years and former Chief Financial Officer of the defunct bank, Ugo Anyanwu Anyanwu to 10 years imprisonment. The judge also discharged and acquitted Atuche’s wife, Elisabeth Atuche.
In an appeal, the Court of Appeal, Lagos Division affirmed the judgment of the trial court on June 23, 2022 with an adjustment in Atuche’s sentence to six years and Anyanwu’s sentence to eight years.
The Court of Appeal equally upheld the discharge and acquittal of Atuche’s wife
Atuche, along with his wife Elizabeth and former Chief Financial Officer Anyanwu were tried by the Economic and Financial Crimes Commission, EFCC, on 27 -count charges bordering on conspiracy to commit felony, stealing and money laundering. The court found Atuche and Anyanwu guilty of 21 counts and were subsequently convicted by Justice Okunnu.
The apex court’s unanimous decision has brought to conclusion the trial of the former top banker that has spanned over thirteen years.
ADVERTISEMENT
Tags: AtucheFraud: Supreme CourtPHB
ADVERTISEMENT
Previous Post

Mauritania goes to the polls, amidst security crisis, economic concerns

Next Post

Deborah Samuel: How King Chibuzor Chinyere’s intervention foiled religious crises in Nigeria

You MayAlso Like

News

Congo: 107 Dead, 146 Missing in Tragic Riverboat Fire

September 13, 2025
News

South Sudan Vice-President charged with murder, treason

September 13, 2025
News

Comptroller Queen Obazee Takes Charge of Ondo/Ekiti Customs Command

September 12, 2025
News

Burkina Faso Declares Visa-free Access to African Nationals

September 12, 2025
News

Africa Network for Accountability Recognizes Uchenna Okafor for Transparent Leadership

September 11, 2025
News

Moroccan LGBTQ Activist Jailed Over ‘Allah Is Lesbian’ T-Shirt Deemed Blasphemous

September 10, 2025
Next Post

Deborah Samuel: How King Chibuzor Chinyere's intervention foiled religious crises in Nigeria

Maldivian minister arrested for performing 'black magic' on President Muizzu

Discussion about this post

“Go to Hell With the Bishop”: Catholic Priest Sparks Outrage After Disrupting Mass in Aba

Air Peace Pilots Test Positive for Alcohol, Cannabis After Port Harcourt Runway Overshoot

Gov Mbah Ignites Green Energy Revolution with Enugu Stove

How the Church’s Inaction Emboldened a Priest-Lawyer to Take Over Tansian University

‘We Got Him’: FBI Confirms Tyler Robinson, Suspect in Charlie Kirk Killing, Has Been Caught

‘TRIANGLE OF SHAME’: Niger Where Girls Are Still Bought Cheaply As ‘Wahaya’

  • British government apologizes to Peter Obi, as hired impostors, master manipulators on rampage abroad

    1241 shares
    Share 496 Tweet 310
  • Maids trafficked and sold to wealthy Saudis on black market

    1066 shares
    Share 426 Tweet 267
  • Flight Attendant Sees Late Husband On Plane

    972 shares
    Share 389 Tweet 243
  • ‘Céline Dion Dead 2023’: Singer killed By Internet Death Hoax

    904 shares
    Share 361 Tweet 226
  • Crisis echoes, fears grow in Amechi Awkunanaw in Enugu State

    735 shares
    Share 294 Tweet 184
  • Trending
  • Comments
  • Latest

British government apologizes to Peter Obi, as hired impostors, master manipulators on rampage abroad

April 13, 2023

Maids trafficked and sold to wealthy Saudis on black market

December 27, 2022
Flight Attendant Sees Late Husband On Plane

Flight Attendant Sees Late Husband On Plane

September 22, 2023
‘Céline Dion Dead 2023’: Singer killed By Internet Death Hoax

‘Céline Dion Dead 2023’: Singer killed By Internet Death Hoax

March 21, 2023
Chief Mrs Ebelechukwu, wife of Willie Obiano, former governor of Anambra state

NIGERIA: No, wife of Biafran warlord, Bianca Ojukwu lied – Ebele Obiano:

0

SOUTH AFRICA: TO LEAVE OR NOT TO LEAVE?

0
kelechi iheanacho

TOP SCORER: IHEANACHA

0
Goodluck Ebele Jonathan

WHAT CAN’TBE TAKEN AWAY FROM JONATHAN

0

The viral pregnancy hoax that shocked the internet wasn’t real

September 14, 2025
Two teenagers were sentenced to 12 years of hard labour in the gulag for watching banned South Korean TVCredit: BBC

North Korea executing more people for watching foreign movies

September 14, 2025

Aston Villa have fallen into mediocrity but Everton draw provides slim hope of a revival

September 14, 2025

How Noni Madueke silenced the noise to reveal Arsenal’s bold new era

September 14, 2025

ABOUT US

Time Africa Magazine

TIME AFRICA MAGAZINE is an African Magazine with a culture of excellence; a magazine without peer. Nearly a third of its readers hold advanced degrees and include novelists, … READ MORE >>

SECTIONS

  • Aviation
  • Column
  • Crime
  • Europe
  • Featured
  • Gallery
  • Health
  • Interviews
  • Israel-Hamas
  • Lifestyle
  • Magazine
  • Middle-East
  • News
  • Politics
  • Press Release
  • Russia-Ukraine
  • Science
  • Special Report
  • Sports
  • TV/Radio
  • UAE
  • UK
  • US
  • World News

Useful Links

  • AllAfrica
  • Channel Africa
  • El Khabar
  • The Guardian
  • Cairo Live
  • Le Republicain
  • Magazine: 9771144975608
  • Subscribe to TIME AFRICA biweekly news magazine

    Enjoy handpicked stories from around African continent,
    delivered anywhere in the world

    Subscribe

    • About Time Africa Magazine
    • Privacy Policy
    • Contact Us
    • WHO’SWHO AWARDS

    © 2025 Time Africa Magazine - All Right Reserved. Time Africa is a trademark of Times Associates, registered in the U.S, & Nigeria. Use of this site constitutes acceptance of our Terms of Service.

    No Result
    View All Result
    • WHO’SWHO AWARDS
    • Politics
    • Column
    • Interviews
    • Gallery
    • Lifestyle
    • Special Report
    • Sports
    • TV/Radio
    • Aviation
    • Health
    • Science
    • World News

    © 2025 Time Africa Magazine - All Right Reserved. Time Africa is a trademark of Times Associates, registered in the U.S, & Nigeria. Use of this site constitutes acceptance of our Terms of Service.

    This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.