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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

Officer in Viral Misconduct Video Dismissed by Ekiti Police

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The Ekiti State Police Command has dismissed a police officer, Sergeant Osayingbemi Temitope, over alleged misconduct linked to the consumption of illicit drugs.

 

In a statement issued on Wednesday by the Police Public Relations Officer, SP Sunday Abutu, the Command said the officer was found behaving erratically in a viral social media video recorded in Ikole-Ekiti on May 9, 2026.

 

According to the statement, the officer was immediately subjected to medical and psychological evaluations following the incident.

 

The Command disclosed that the psychological assessment showed that the officer was emotionally stable, while the medical test confirmed that he tested positive for tobacco and amphetamine.

 

It added that during further investigations, the officer admitted to taking illicit drugs.

 

The statement noted that internal disciplinary procedures had been concluded and the officer was found culpable of misconduct.

 

“The officer was recommended for dismissal and the recommendation was upheld. The Command hereby confirms his dismissal, which takes immediate effect,” the statement said.

 

The Command reiterated that the Nigeria Police Force remains a disciplined organisation and would not tolerate acts of indiscipline, unprofessional conduct or any behaviour capable of tarnishing the image of the Force.

 

The Commissioner of Police in Ekiti State, Falade Adegoroye Micheal, charged officers of the Command to uphold professionalism, accountability, integrity and remain committed to their statutory responsibility of protecting lives and property.

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Crime

Gunmen Demand N1bn Ransom for 15 Abducted Worshippers in Ekiti Church Attack

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Suspected gunmen who attacked the Christ Apostolic Church in Eda Oniyo, Ekiti State, have demanded a ransom of one billion naira for the release of 15 worshippers abducted during the incident, which also left one person dead.

The Eleda of Eda Oniyo, Oba Joseph Awolola, disclosed this while addressing journalists, noting that the kidnappers had established contact with the community and made their demand known. He appealed to the government to intensify efforts to secure the safe return of the victims.

 

Meanwhile, traditional rulers from neighbouring communities, including the Elewu of Ewu Ekiti, Oba Bamidele Adeniran, and the Owa of Iludun, Oba Adeniran, have called for a temporary ban on evening worship activities and a comprehensive overhaul of the security architecture in the area.

 

The monarchs also lamented the absence of security personnel, alleging that it took over an hour for security operatives to respond after the attack.

On their part, the Special Adviser to the Governor on Security, Brigadier General Ebenezer Ogundana (retd.), and the Commissioner of Police, Michael Falade, who visited the community for an on-the-spot assessment, assured residents that efforts were ongoing to rescue the abducted victims.

 

They urged residents to remain vigilant and support security agencies with timely and useful information.

At least 15 persons were kidnapped during the attack on Christ Apostolic Church, Oke Ominira, in Eda Oniyo, Ilejemeje Local Government Area of Ekiti State.

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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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