TransparencIT
TransparencIT
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Fraud
Aug 2, 2025
FRN vs Francis Atuche (Former Managing Director of defunct Bank PHB) & 1 other
Francis Atuche
& 1 other
N125,000,000,000.00
Amount allegedly defrauded
Case Summary
The Defendants were alleged to have granted credit facilities, manipulated shares and committed general banking fraud.
16
Year(s) since arraignment
Case Update
The trial was stalled following the failure of the Nigerian Correctional Services to produce the defendants in court.
Hon. Justice A. O. Faji
Federal High Court, Ikoyi, Lagos
ACJA/ACJL Compliance - violated
Case Information
Francis Atuche & 1 other
Presiding Judge & Designated Court
Hon. Justice A. O. Faji, Federal High Court, Ikoyi, Lagos
Nature and Number of Charges
45-amended count charge bordering on fraud, conspiracy, reckless granting and approval of loans and money laundering.
Date of 1st Arraignment
2009
Summary of Case
The Defendants were alleged to have granted credit facilities, manipulated shares and committed general banking fraud.
Defendant(s) and Plea entered on Arraignment
1. Francis Atuche
(Former Managing Director of defunct Bank PHB Plc)
– Not Guilty
2. Charles Ojo
(Former Managing Director of Defunct Spring Bank Plc)
– Not Guilty
Defence Counsel(s)
1. Anthony Idigbe
(Senior Advocate of Nigeria)
2. Osahon Idemudia
(Lawyer)
Prosecuting Agency
Economic and Financial Crimes Commission
Prosecutor(s)
1. Kemi Pinheiro (Senior Advocate of Nigeria)
Status of Case
On Trial
Stage of Trial
Prosecution Stage
Length of Trial
16 year(s)
Case Update
The trial was stalled following the failure of the Nigerian Correctional Services to produce the defendants in court.
ACJA/ACJL Compliance
Violated