A Lagos State High Court has frozen permanently assets and funds worth N19.17bn allegedly kept in 24 banks by the convicted former Managing Director of the defunct Bank PHB Francis Atuche.
Justice Lateefat Okunnu gave the order on Thursday following an August 17 application by the Economic and Financial Crimes Commission in a suit between the Federal Government against Atuche, and Ugo Anyanwu, who is also serving jail term following his conviction and sentencing to six years’ imprisonment on June 16, 2021 for fraud involving about N25.7bn. He was a former Chief Financial Officer of the bank,
Justice Okunnu, while sentencing the duo, had ordered that they should refund the sum of N25.7bn to the Federal Government in order to replace the funds taken from taxpayers to bail out the bank.
The judge further froze any bank account being run and operated by Atuche, personally or jointly, whether in his personal name or otherwise in any of the respondent banks to the tune of N19.17bn.
EFCC had alleged that 15 persons were used by Atuche to launder the funds.
They are Anthony Atuche, Emeka Atuche, Paul Okobi, Felix Oyiana, Moruf Adisa, Olatunji Abiodun, Daniel Enebeli, Aina Olugbenga, Augustine Nwabueze, Omonua Benedict, Oliver Nduaaron, Chris Ogbechie, Murat Bektaslar, Attah Olukemi, and Thomas Etuh.