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Court Sentences Former Bank PHB Boss, Francis Atuche To Over 6 Years In Prison

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A Lagos High Court sitting in the Ikeja area has sentenced former managing director of defunct Bank PHB, Francis Atuche to over 6 years in prison.

In a judgment that lasted over 10 hours, Justice Lateefat Okunnu convicted Atuche alongside a former Chief Financial Officer of the bank, Ugo Anyanwu.

The two were convicted on at least 6 of a 27-count amended charge of conspiracy to commit a felony and stealing brought against them by the Economic and Financial Crimes Commission (EFCC).

While Atuche who was found guilty on counts 1, 3, 5, 7, 9, and 23 of the charge would serve a 6-year term for each count,  Anyanwu will serve a 4-year jail term for counts 2, 4, 6, 8, 10, 11, 22 and 24 of the amended charge.

They are to serve their jail term consecutively. This sentence is coming after a trial that lasted over 12 years.

In delivering her sentence, Justice Okunnu held that the EFCC successfully proved its case against the convicts beyond a reasonable doubt.

The judge rejected claims by the defendants suggesting that they were merely professionally negligent.

She specifically held that Atuche and Anyanwu abused their powers, ignored established rules and regulations thereby putting the bank and depositors’ funds in danger.

The court also came to the conclusion that the convicts corruptly took advantage of their positions to confer on themselves undue financial benefits without regard to the health of the bank.

“The convict stole from the bank and depositors and because of their action, taxpayers money was used to bail out the bank”.

Justice Okunnu held that she had considered the plea of the convicts, but there must be consequences for wrongdoing, adding that sentences are not just for punishment but also for deterrence.

She also ruled that the defendant should make restitution of the amount stolen from the bank. They are to pay back the sum of N25.7billion to the Federal government to replace the funds stolen from the public to bail out the bank.

According to the Judge, they are to serve their jail terms at the Kirikiri maximum correctional facility in Lagos.

Atuche’s wife cleared
Justice Okunnu however, cleared Atuche’s wife on the charge of conspiracy and stealing.

According to the judge, the EFCC failed to link her to the crime and insisted that suspicion no matter how strong can not take the place of fact.

The judge held that it was not proven that she was aware of the source of the funds she received into her account from her husband and she had no powers to take any decision to influence the transaction.

Charges
The EFCC had alleged that between November 2007 and April 2008, the accused persons stole about N25.7bn belonging to the bank.

The anti-graft agency had also claimed that of the total N25.7bn, they stole about N14.7bn by fraudulently describing it as a loan to some companies and subsequently converted the said sum to personal use.

The Commission had listed the companies as Future View Securities, Extra Oil Limited, Resolution Trust and Investment Limited, and Tradjek Nigeria Ltd.

The EFCC also alleged that another N11bn stolen by the defendants was used to purchase about 984,375,000 units of Bank PHB shares for themselves.

According to the commission, the sum used for purchasing the shares was described as a loan to some companies including, Guesstrade Services, Sentron Trading, Montrax Investico, Claremount Management Ltd., Trenton Trade, and others.

In proof of its case against the accused persons, the EFCC called 12 witnesses who gave oral evidence. It also subpoenaed 6 others to present some documents which were admitted as exhibits by the court.

 

 

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Crime

Gunmen Abduct Pastor’s Wife, Church Member in Nasarawa

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Gunmen on Sunday night abducted Mrs. Patience Nasamu, wife of Pastor Samuel Nasamu of the Word of God Church, Agyaragu, and a female church member who was visiting the family, in Obi Local Government Area of Nasarawa State.

Pastor Nasamu, recounting the incident, said his wife, who is nursing a three-month-old baby, was taken alongside the visitor shortly after a church service.

“I had just stepped out to pray for a sick member when my wife called me. All I could hear was her praying; she couldn’t even explain what was happening. By the time I rushed back, both she and our visitor had been abducted, leaving our baby behind,” he said.

According to him, the attackers arrived at about 8:15 p.m., smashing windows and doors with a hammer in an attempt to gain entry. When that failed, they fired gunshots into the air, forcing his wife to open the door before whisking her and the church member away.

He added that no contact has been made by the kidnappers since the abduction, while police officers who visited the scene assured residents that investigations were ongoing.

A resident of Agyaragu, who spoke anonymously, described the spate of kidnappings in the area as “alarming,” and appealed to Governor Abdullahi Sule to take urgent action.

“We live in fear every day, knowing we could be kidnapped or killed if ransom is not paid. Farmers and residents are taken almost daily. Help us tell Governor A. A. Sule that Agyaragu is now at the mercy of kidnappers,” the resident lamented.

 

 

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“I Want a Rich Man, Not You”: Mother of Three Found Dead in Hotel After Tense Marital Rift

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The quiet of a family home was shattered this week when Paulina, a young mother of three, was found dead in a hotel room under mysterious circumstances—just hours after reportedly telling her husband that she wanted “a rich man, not you.”

According to family accounts, Paulina slipped out of her home late at night around 10 p.m., leaving her children behind. Her husband, returning home that evening, was unsettled to find the little ones hungry and unattended. He had no idea it would be the last night he would see his wife alive.

By morning, devastating news arrived: Paulina’s lifeless body had been discovered in a guest house.

Police say she had checked in alone, but the exact cause of her death remains unclear.

The tragedy has left neighbours in shock, struggling to reconcile the woman they knew—a mother devoted to her children—with the circumstances surrounding her passing.

Police authorities have begun investigations to determine what led to her death, even as her family and community grapple with unanswered questions.

For her husband and children, the painful reality is not just the loss of a wife and mother, but the haunting memory of her final words.

 

 

 

 

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Police Bust Child Trafficking Syndicate, Rescue 11 Victims in Lagos

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The Lagos State Police Command has uncovered a trans-border child trafficking syndicate, rescuing 11 victims and arresting four suspects allegedly involved in recruiting and transporting young Nigerians to Ghana for prostitution.

The Command said operatives from the Ilemba Hausa Division intercepted one Mustapha Abubakar on August 13, 2025, while he attempted to traffic a 15-year-old girl to Ghana. The case was later transferred to the Special Squad I, which launched a manhunt based on credible intelligence.

The operation led to the arrest of three other suspects: Charles Chima (54) in Amuwo Odofin, Emmanuel Nwaka (36) along the Lagos-Abeokuta Expressway, and Princess John (21) at Ojota. Investigations revealed they belonged to a wider criminal network engaged in cross-border trafficking of young women.

Ten additional victims, aged between 21 and 29, were subsequently rescued and are receiving protective care and support, with arrangements being made to reunite them with their families.

The suspects are in police custody and cooperating with investigators to identify other members of the syndicate.

Lagos State Commissioner of Police, CP Olohundare Jimoh, commended the operatives for their swift response and reiterated the Command’s zero tolerance for human trafficking. He urged residents to remain vigilant and report suspicious activities to security agencies.

 

 

 

 

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