N25.7bn Fraud: Appeal Court Affirms Conviction Of Ex-Bank PHB MD, Atuche, One Other

June 24, 2022

A three-man panel of the Court of Appeal, Lagos, on Thursday upheld the conviction of a former Managing Director of the defunct Bank PHB Plc, Francis Atuche, as well as the bank’s former Chief Financial Officer, Ugo Anyanwu.

In a statement by the Economic and financial crimes commission, EFCC, on Friday, Atuche and his co-convict, Anyanwu, had approached the appellate court to set aside their conviction by Justice Lateefa Okunnu of the Lagos State High Court sitting in Ikeja, Lagos on June 16, 2021 over a N25.7 billion fraud.