A Lagos State High Court in Ikeja has ordered the freezing of assets and funds belonging to a convicted former BankPHB Managing Director Francis Atuche, running to about N19,178,253,050, which he allegedly stashed away in 24 banks.
The order was made by Justice Lateefat Okunnu, in her ruling on an application by counsel to the Economic and Financial Crimes Commission on August 17, Mr. Kemi Pinheiro (SAN).
This was in a suit between the Federal Government and Atuche and Ugo Anyanwu as first and second defendants.
A former Chief Financial Officer of BankPHB, Anyanwu is currently serving a six-year jail term, having been convicted and sentenced last June 16 for N25.7 billion fraud, alongside Atuche.
Justice Okunnu, had in June ordered that Atuche and Anyanwu should make restitution of the N25.7 billion to the Federal Government to replace the funds they stole from the public to bail out the bank.
The judge in her ruling, granted EFCC’s 12 prayers pursuant to sections 6(d), 20, 24, 26(1), 30 and 34(1) of the EFCC Act and sections 290, 294 and 297 of the Administration of Criminal Justice Law 2015, filed by Pinheiro.
“An order is made restraining the first defendant (Atuche) whether by himself or acting through the persons or entities listed or such other persons, including but not limited to his family members or agents, from removing, alienating, disposing of, dealing with or diminishing the value of assets, proceeds of economic and financial crimes or otherwise in the name of the first defendant,” Justice Okunnu declared.
She argued that the assets or funds included those held indirectly by or for Atuche’s benefit, whether solely or jointly held, that is located in Nigeria or worldwide.
Additionally, she also froze any bank account being run and operated by Atuche “personally or jointly, whether in his personal name or otherwise or with the Bank Verification Number (BVN) 22295357230 in any of the respondent banks to the tune of N19,178,253,050.00 only, pursuant to the restitution order made by this honourable court on June 16, 2021”.
The Judge also restrained Atuche and his privies from presenting to the respondent banks any mandate or instruction for the withdrawal of any money and/or funds standing to the credit of any of their accounts to the tune of N19,178,253.050.
She also restrained the banks from honouring any such instruction from Atuche and his privies.
