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Nairaland Forum / Nairaland / General / Business / Court Convicts Bank PHB's Francis Atuche, Ugo Anyanwu Of ₦25.7 Bilion Theft (23376 Views)
Supreme Court Affirms Conviction Of Ex-bank PHB MD Atuche / Francis Atuche: Court Freezes ₦19.1 Billion Belonging To Ex-bank PHB MD / FG Appoints Transaction Advisers For $6.2 Bilion Eurobond Issuance (2) (3) (4)
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Court Convicts Bank PHB's Francis Atuche, Ugo Anyanwu Of ₦25.7 Bilion Theft by HonNL: 9:12pm On Jun 16, 2021 |
A Lagos State High Court sitting in Ikeja on Wednesday sentenced the former Managing Director of defunct Bank PHB, Francis Atuche and a former Chief Financial Officer of the bank, Ugo Anyanwu to 126 years imprisonment for stealing a N25.7 billion theft belonging to the bank. SOURCE 25 Likes
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Re: Court Convicts Bank PHB's Francis Atuche, Ugo Anyanwu Of ₦25.7 Bilion Theft by Bola146(f): 9:12pm On Jun 16, 2021 |
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Re: Court Convicts Bank PHB's Francis Atuche, Ugo Anyanwu Of ₦25.7 Bilion Theft by HonNL: 9:14pm On Jun 16, 2021 |
He refused to resign in October 2009, until the CBN stepped in. https://www.nairaland.com/331313/atuche-refuses-resign-bankphb-ceo#4646631 A Lagos High Court sitting in Ikeja, erroneously freed him in June 2015 https://www.nairaland.com/2396850/n25.7bn-fraud-court-frees-francis#35025259 The Appeal Court insisted that Atuche, his wife and the ex-Chief Financial Officer Anyanwu had a case to answer then ordered for a retrial..in September 2016 https://www.google.com/amp/s/punchng.com/n25-7bn-theft-acourt-overrules-atuches-acquittal/%3famp 37 Likes 3 Shares |
Re: Court Convicts Bank PHB's Francis Atuche, Ugo Anyanwu Of ₦25.7 Bilion Theft by Nobody: 9:15pm On Jun 16, 2021 |
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Re: Court Convicts Bank PHB's Francis Atuche, Ugo Anyanwu Of ₦25.7 Bilion Theft by Commentor: 9:16pm On Jun 16, 2021 |
Appeal court would acquit them. Big men don't go to prison in Nigeria. 28 Likes 2 Shares |
Re: Court Convicts Bank PHB's Francis Atuche, Ugo Anyanwu Of ₦25.7 Bilion Theft by serenity1: 9:16pm On Jun 16, 2021 |
Big men.. He will find a way to wiggle himself out 9 Likes |
Re: Court Convicts Bank PHB's Francis Atuche, Ugo Anyanwu Of ₦25.7 Bilion Theft by ThatFairGuy1: 9:18pm On Jun 16, 2021 |
Average Nigerian ONLY hate corruption because they're not part of it. 66 Likes 5 Shares |
Re: Court Convicts Bank PHB's Francis Atuche, Ugo Anyanwu Of ₦25.7 Bilion Theft by Kzinne: 9:19pm On Jun 16, 2021 |
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Re: Court Convicts Bank PHB's Francis Atuche, Ugo Anyanwu Of ₦25.7 Bilion Theft by Ever8090: 9:24pm On Jun 16, 2021 |
Xiaomi1:how e take be wash? Make we here your own version of the story.. Sabinus"!! 44 Likes 3 Shares
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Re: Court Convicts Bank PHB's Francis Atuche, Ugo Anyanwu Of ₦25.7 Bilion Theft by Penguin2: 9:25pm On Jun 16, 2021 |
Some people are heartless. How can you steal 25bn naira from a company that employed you? How much is their capital? Jail them for life joor! Ndi oshi! 52 Likes 3 Shares |
Re: Court Convicts Bank PHB's Francis Atuche, Ugo Anyanwu Of ₦25.7 Bilion Theft by Rickyzagy: 9:35pm On Jun 16, 2021 |
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Re: Court Convicts Bank PHB's Francis Atuche, Ugo Anyanwu Of ₦25.7 Bilion Theft by kechywillz(m): 9:42pm On Jun 16, 2021 |
U looted that Bank dry 14 Likes |
Re: Court Convicts Bank PHB's Francis Atuche, Ugo Anyanwu Of ₦25.7 Bilion Theft by illicit(m): 9:51pm On Jun 16, 2021 |
Money don't go to jail 3 Likes |
Re: Court Convicts Bank PHB's Francis Atuche, Ugo Anyanwu Of ₦25.7 Bilion Theft by Solsix(m): 10:09pm On Jun 16, 2021 |
I remember one of bank phb advert when they foresaw cars running on water, they didn't see thier bank was going down 68 Likes 2 Shares |
Re: Court Convicts Bank PHB's Francis Atuche, Ugo Anyanwu Of ₦25.7 Bilion Theft by FarahAideed: 10:11pm On Jun 16, 2021 |
25 billion many ma 4 Likes |
Re: Court Convicts Bank PHB's Francis Atuche, Ugo Anyanwu Of ₦25.7 Bilion Theft by Tonim(f): 10:27pm On Jun 16, 2021 |
The alleged theft has been in the news for a while. N25 billion naira ![]() Was any of the funds recovered? 4 Likes |
Re: Court Convicts Bank PHB's Francis Atuche, Ugo Anyanwu Of ₦25.7 Bilion Theft by Tookool(m): 10:31pm On Jun 16, 2021 |
The first bank I ever opened an account 9 Likes |
Re: Court Convicts Bank PHB's Francis Atuche, Ugo Anyanwu Of ₦25.7 Bilion Theft by Vaughanlanrewaj: 11:16pm On Jun 16, 2021 |
One day, cars will run on water. According to DigitalNest, BankPHB undoubtedly had one of the best marketing campaigns in Nigeria between 2004 – 2007. They came up with thought-provoking and creative adverts like; “One-day cars will run on water”, “Dream Come True” and my personal favorite, “No Impossibility” They evoked interest and gain massive popularity most especially among the young and fast-rising middle-class community in Nigeria leading to more people opting out of other banks to do business with BankPHB. However, 14 years down the line, nobody knows about BankPHB and their rather futuristic projections and marketing slogans. https://www.youtube.com/watch?v=DRwPc5yJqCo Ashey all na wash. I used to admire the bank and love the way their staffers look in their branded suits and the entrance to their bank is very inviting but today, even the imposing beautiful headquarters on Keffi road,Ikoyi, is a ghost town like that of the Marble Skyscraper headquarter building of Savannah Bank at Tinubu. Poor corporate governance killed the bank. I still feel let down in a way that this is a bank linked to Prof. Pat Utomi who then was a strong and influential authority in Nigeria economic matters. Prof and Alhaji Kola Abiola did not put their hands in the cookie jar,the MD didn't try at all.visit www.freestuffsng.com to hunt for freebies. All the enemies of Nigeria will lose las las. They always lose. God bless Nigeria 29 Likes 4 Shares |
Re: Court Convicts Bank PHB's Francis Atuche, Ugo Anyanwu Of ₦25.7 Bilion Theft by DrTee1(m): 11:31pm On Jun 16, 2021 |
This is very revealing. It is both good and bad. Good in the sense that some maladministration has been identified and proven in court. Bad that it got this bad before the extent of maladministration in the bank was identified. That's also an administrative flaw by the agencies, ministries and departments of government that should have oversight responsibilities over the bank. If only this was done in every government institution... 13 Likes 1 Share |
Re: Court Convicts Bank PHB's Francis Atuche, Ugo Anyanwu Of ₦25.7 Bilion Theft by slivertongue: 11:37pm On Jun 16, 2021 |
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Re: Court Convicts Bank PHB's Francis Atuche, Ugo Anyanwu Of ₦25.7 Bilion Theft by Vaughanlanrewaj: 11:40pm On Jun 16, 2021 |
HonNL: https://www.nairaland.com/331313/atuche-refuses-resign-bankphb-ceo#4646631 This thread was in the twilight of the golden era of Nairaland. It is a decent thread with intelligent exchanges initiated by Suraj . By the time you go through the second link in 2015, you will clearly see how the standard had fallen. I still remember with nostalgia the time when you can have decent and intelligent exchanges here on Nairaland and not now where young folks who should be temperate and teachable make very toxic comments and haul insults at everyone including those old enough to be their grandparents. Thanks for sharing the historical background of the case. God bless you sir.visit www.freestuffsng.com to hunt for free stuff. May God bless Nigeria. 46 Likes 2 Shares |
Re: Court Convicts Bank PHB's Francis Atuche, Ugo Anyanwu Of ₦25.7 Bilion Theft by Vaughanlanrewaj: 11:58pm On Jun 16, 2021 |
DrTee1:Very valid and intelligent points. I think our legal system is largely to be blamed for it. The case has taken more than a decade and I won't be surprised it goes on appeal and on to the supreme court, taking more years. N25Billion in 2009 was $172.4m which is currently worth N77.6 billion today. That fund was used to fund wastages along with unquantifiable waste of man hours. Why should it take 10 years to establish the difference between professional negligence and criminal negligence for a publicly quoted bank that is under supervision of regulators and auditors? ![]() 32 Likes 2 Shares |
Re: Court Convicts Bank PHB's Francis Atuche, Ugo Anyanwu Of ₦25.7 Bilion Theft by baralatie(m): 1:37am On Jun 17, 2021 |
HonNL:Wow |
Re: Court Convicts Bank PHB's Francis Atuche, Ugo Anyanwu Of ₦25.7 Bilion Theft by Nobody: 1:52am On Jun 17, 2021 |
HonNL:10 yrs?! It took 10yrs to conclude a financial crime case? What a lawless country. And, they need to stop sending Journalists that have no idea how the law works to go cover court cases. He wasn’t sentenced to 127yrs. The Journalist is obviously calculating the sentences consecutively. 10 Likes 2 Shares |
Re: Court Convicts Bank PHB's Francis Atuche, Ugo Anyanwu Of ₦25.7 Bilion Theft by Nobody: 1:58am On Jun 17, 2021 |
. 1 Like |
Re: Court Convicts Bank PHB's Francis Atuche, Ugo Anyanwu Of ₦25.7 Bilion Theft by tamonokare: 5:42am On Jun 17, 2021 |
What of Odum of MBA Forex. Law no dey catch am ? 3 Likes |
Re: Court Convicts Bank PHB's Francis Atuche, Ugo Anyanwu Of ₦25.7 Bilion Theft by MANNABBQGRILLS: 5:42am On Jun 17, 2021 |
Oh Boy! ![]() ![]() ![]() Ona man with over 27 BILLION Naira ![]() We are simply short of words! 4 Likes 3 Shares |
Re: Court Convicts Bank PHB's Francis Atuche, Ugo Anyanwu Of ₦25.7 Bilion Theft by GreaterFuture(m): 5:42am On Jun 17, 2021 |
Too bad |
Re: Court Convicts Bank PHB's Francis Atuche, Ugo Anyanwu Of ₦25.7 Bilion Theft by adioolayi(m): 5:44am On Jun 17, 2021 |
The Judiciary should be all out and out....they should be rootless in their judgement and ensure they do so without fear or favour upholding the constitution of Nigeria. The executive do not mean well for the judiciary...so, no point romancing or dancing to their tune. Judiciary, please restore the hope of a common man!!! 1 Like |
Re: Court Convicts Bank PHB's Francis Atuche, Ugo Anyanwu Of ₦25.7 Bilion Theft by TimmyTen(m): 5:45am On Jun 17, 2021 |
Bawa (EFCC chairman) is doing well and his life should be protected at all cost…. Corruption is deeply rooted in the fabrics of this nation…corruption will definitely fight back if u know, u know 2 Likes |
Re: Court Convicts Bank PHB's Francis Atuche, Ugo Anyanwu Of ₦25.7 Bilion Theft by Kelvinbako(m): 5:46am On Jun 17, 2021 |
Chai...some people get mind for this country oo� 2 Likes |
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