Court freezes convicted former Bank PHD MD, Atuche’s N19 billion in 24 banks

September 3, 2021

Justice Lateefat Okunnu of a Lagos State High Court in Ikeja has frozen assets and funds to the tune of N19,178,253050 billion al­legedly kept in 24 banks by a convicted former Managing Director of the defunct Bank PHB, Francis Atuche.

The banks included Ac­cess Bank Plc, Citi Bank Ltd, Ecobank Nigeria Ltd, Fidelity Bank Nigeria Plc, First Bank Of Nigeria Plc, First City Monument Bank and Globus Bank Ltd.

They also included Guar­anty Trust Bank Plc, Her­itage Bank Ltd, Keystone Bank Ltd, Lotus Bank Ltd, Mainstreet Bank Plc, Polar­is Bank Plc, Platinum Mort­gage Bank Ltd, Providus Bank Ltd and Stanbic IBTC Nigeria Ltd.

The rest were Standard Chartered Bank, Sterling Bank Plc, Titan Trust Bank Ltd, Union Bank Of Nigeria Plc, United Bank For Africa Plc, Unity Bank Plc, Wema Bank Plc and Zenith Bank Plc.

Justice Okunnu ordered that the assets be frozen sequel to an August 17 ap­plication by the Economic and Financial Crimes Com­mission (EFCC)’s counsel Mr Kemi Pinheiro (SAN) in charge suit No. ID/1549/2011 between the Federal Govern­ment on the one hand and Atuche and Ugo Anyanwu as first and defendants.

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