Supreme Court Affirms Conviction Of Ex-Bank PHB MD Atuche

Following a 13-year legal battle, the Supreme Court confirmed the guilty verdict of Mr. Francis Atuche, former Managing Director of the now-defunct Bank PHB Plc, on Friday morning.

Justice Moore Adumein, in a unanimous ruling at the Supreme Court, affirmed that Francis Atuche, the appellant, did not challenge the credibility findings of the trial court and Court of Appeal.

The court emphasized its established principle that when a trial court’s assessment of a party or witness aligns with documentary evidence presented, an appellate court should not intervene in such determinations.

Ultimately, the court determined that there was no justification to alter the consistent ruling of the two lower courts regarding the appellant’s case.

The Economic and Financial Crimes Commission (EFCC) brought charges against Mr. Atuche, his wife Elizabeth, and Mr. Ugo Anyanwu in 2011.

The trial took place before Justice Lateefat Okunnu at the Lagos High Court, with Senior Advocate of Nigeria Dr. Kemi Pinheiro representing the EFCC in prosecution.

The threesome faced a 27-count amended charge related to a N25.7 billion fraud and were brought before Justice Okunnu for arraignment.

After a lengthy 12-hour judgment on June 16, 2021, Atuche and the bank’s former Chief Financial Officer, Ugo Anyanwu, were found guilty of conspiracy to commit felony and stealing in 21 of the amended charges filed by the EFCC. Justice Okunnu concluded that the EFCC had convincingly proven its case against the defendants beyond any doubt.

Elizabeth, the wife of Atuche, was acquitted by the court due to lack of evidence linking her to the crime. The judge emphasized that suspicion alone cannot replace concrete facts.

It was not established that she had knowledge of the origin of the funds deposited into her account by her husband, nor did she have authority to influence any transactions.

The convicted individuals were sentenced to imprisonment at Kirikiri Maximum Correctional Facility in Lagos. Seeking a different outcome, they appealed the decision and on June 23, 2022, the Court of Appeal upheld their convictions.

The higher court further specified that Atuche’s prison sentence, as decreed by the lower court, is six years to be served simultaneously, not 12 years.

Anyanwu’s punishment was lessened from 10 years to eight years by the Judges. Additionally, they confirmed the exoneration of Atuche’s spouse, Elizabeth.

In a recent ruling by the Supreme Court, Senior Advocates of Nigeria Wole Olanipekun, Chief Anthony Idigbe, and Prof. Fidelis Oditah represented Mr. Atuche in his appeal against conviction.

Dr. Kemi Pinheiro, acting on behalf of the Attorney General of the Federation, led a team that included Senior Advocate of Nigeria Sebastine Hon to represent the State.

This morning’s unanimous decision by the Supreme Court marks the conclusion of this criminal case after more than thirteen years.