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13 years after, Supreme Court affirms conviction of Ex-Bank PHB MD Atuche

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By Francesca Hangeior

After about 13 years of trial, the Supreme Court, on Friday morning upheld the conviction of the former Managing Director of the defunct Bank PHB Plc, Mr Francis Atuche.

In the unanimous judgment read by Justice Moore Adumein, the Supreme Court held that the appellant, Francis Atuche, did not attempt to dislodge the finding of the trial court and the Court of Appeal on his credibility.

The court in relying on its previous decisions to the effect that where the decision of a trial court on the demeanor of a party or witness is supported by the documentary evidence tendered, an appellate court has no business in tampering with the decision of the court.

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In conclusion, the court held that the appellant had not given it any reason to tamper with the concurrent finding of the two lower courts.

Atuche, his wife, Elizabeth and one Mr. Ugo Anyanwu had been arraigned by the Economic and Financial Crimes Commission (EFCC) in 2011 before Justice Lateefat Okunnu of the Lagos High Court in a prosecution that was handled by Senior Advocate of Nigeria, Dr. Kemi Pinheiro on behalf of the EFCC.

The trio were arraigned on a 27 count amended information over a N25.7 billion fraud.
On June 16, 2021, Justice Okunnu in a judgment that lasted about 12 hours, convicted Atuche alongside a former Chief Financial Officer of the bank, Ugo Anyanwu.

The court convicted the duo on 21 of the 27-count amended charge of conspiracy to commit felony and stealing brought against them by the EFCC.
Justice Okunnu held that the EFCC successful proved its case against the convicts beyond reasonable doubt.

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Atuche and Anyanwu were sentenced 12 years and and 10 years respectively by the High Court.

However, it was reduced by the Court of Appeal, with Atuche getting six years while Anyanwu got eight years.

She freed Atuche’s wife, Elizabeth on the grounds that the EFCC failed to link her to the crime.

The court insisted that suspicion no matter how strong cannot take the place of fact.

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The judge held that it was not proven that she was aware of the source of the funds she received into her account from her husband and she had no powers to take any decision to influence the transaction.

The convicts were to serve their jail terms at the Kirikiri Maximum Correctional Facility in Lagos.

Dissatisfied with the judgment, the convicts approached the appeal court and on the 23rd of June, 2022, the Court of Appeal affirmed the conviction of both men.

The appellate court also clarified that Atuche’s jail term, as handed down by the lower court, is six years concurrently, rather than 12 years.

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The Justices, however, reduced Anyanwu’s sentence from 10 years to eight years.

They also upheld the discharge and acquittal of Atuche’s wife, Elizabeth.

On further appeal to the Supreme Court, the apex court earlier this year heard Senior Advocates of Nigeria, Wole Olanipekun leading Chief Anthony Idigbe and Prof. Fidelis Oditah in the appeal which was initiated by Atuche against his conviction, while Dr. Kemi Pinheiro who held the fiat of the Honourable Attorney General of the Federation led the team of lawyers representing the State including Senior Advocate of Nigeria, Sebastine Hon.

The unanimous decision of the Supreme Court this morning brings to finality this criminal charge after over thirteen years.

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Brotherhood crisis turns violent as worshippers reject Olumba’s successor

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The prolonged succession crisis in a Nigerian Christian religious sect, the Brotherhood of the Cross and Star, has festered on since its founder, Olumba Obu, passed away.

The crisis turned violent recently as angry worshippers in a particular branch in Uyo, Akwa Ibom State, became riotous, destroying the portrait of Olumba’s first son, Rowland, who leads a faction of the sect.

Olumba’s daughter, Ibum, leads another faction.

A video, which is being circulated on WhatsApp groups and Facebook, captured a man in a white cassock yanking off Rowland’s portrait from the wall and smashing it on the floor amid cheers from worshippers.

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Rowland’s portrait was hung near Olumba’s, but the angry worshippers did not attack the latter.

“Bring it down!” a woman’s voice could be heard shouting in the background of the video as the man in a white cassock smashed the glass frame on the ground.

“This is who we are worshipping,” a man’s voice could be heard shouting repeatedly as the camera panned and then focused on Olumba’s portrait on the wall.

It is not clear when the incident happened.

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Amah Williams, the sect’s spokesperson, said the incident happened in Uyo at the sect’s Nsikak Edouk Avenue branch.

Rowland and Ibum, with hundreds of their followers, are claiming the leadership of the 68-year-old sect after their father’s passing, causing a disastrous split in a once united and strong organisation headquartered in the Biakpan community in Cross River State, Nigeria’s South-south.

‘They are rebels’

Mr Williams, the sect’s spokesperson, told reporters on Saturday in Uyo that those responsible for the incident belong to a breakaway faction called Brotherhood of the Cross and Star New Kingdom Ministry.

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He described them as rebels who do not want to accept Rowland’s leadership – he did not call Rowland by name as Olumba’s successor is revered among worshippers as “King of Kings and Lord of Lords, His Holiness Olumba Olumba Obu”.

“They are rebels. They rebelled; they rejected the rulership of the Kingdom of Christ,” Mr Williams told reporters.

“The holy image of our father is what we hold sacred,” he said, apparently referring to the destruction of Rowland’s portrait.

A reporter asked the spokesperson what place Jesus Christ occupies in the Brother of the Cross and Star.

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“That same (Jesus) Christ is the one that came with the new name Olumba Olumba Obu,” responded.

“If Olumba were to be a white man, black men would have gone to worship on his feet.”

The over 1 million global members of the Brotherhood of the Cross and Star do not see themselves as a church but as the new Kingdom of God on Earth. They have also refused to admit that their founder had passed away as the sect has yet to announce his passing or publicly conduct his burial.

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Tinubu’s reforms struggling to deliver meaningful results – IMF

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Eighteen months after the implementation of Nigeria’s ongoing economic reforms, the International Monetary Fund (IMF) has observed that the fiscal policies introduced by the President Bola Tinubu administration are struggling to deliver meaningful results.

Catherine Patillo, IMF Deputy Director, while presenting a report at the Lagos Business School (LBS) on Friday, reported a mixed performance of economic reforms across Sub-Saharan Africa, with notable successes in countries such as Côte d’Ivoire, Ghana and Zambia.

Nigeria was conspicuously absent from the list of success stories in the region.

The report stated that sub-Saharan Africa’s average economic growth rate is projected to remain at 3.6 per cent for 2024. It noted that Nigeria’s growth rate, pegged at 3.19 per cent, falls below this average.

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Patillo said that while macroeconomic imbalances have reduced in several countries, Nigeria has yet to show such progress.

She stated that more than two-thirds of countries have undertaken fiscal consolidation, stressing that while the median primary balance is expected to narrow by 0.7 percentage points alone in 2024, there are notable improvements in Cote d’Ivoire, Ghana, and Zambia, among others.

The report stated, “In contrast, Nigeria’s inflation rate, which slowed briefly in July and August, resumed its upward trend in September, rising further in October.

“At 33.8 per cent, it significantly exceeds the 21 per cent target set for 2024, with analysts predicting further increases in November and December.”

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The report also observed Nigeria’s struggles with exchange rate stability, highlighting it as one of the worst-performing nations in that regard.

According to the report, other countries in the region are experiencing reduced foreign exchange pressures but Nigeria’s local currency depreciation and instability remain a concern.

On debt servicing, the report said Nigeria ranked among countries suffering the heaviest fiscal burden.

The IMF noted that rising debt service obligations are consuming substantial portions of revenue, limiting resources available for development.

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It stated that in Angola, Ghana, Nigeria, and Zambia, the increase in interest payments alone absorbed a massive 15 per cent of total revenue.

The IMF grouped Nigeria among resource-intensive countries struggling with social and political challenges that hinder reform implementation.

Political unrest, public dissatisfaction, and tight financing conditions were identified as major impediments.

The report noted that resource-intensive countries continue to grow at about half the rate of the rest of the region, with oil exporters struggling the most and further noted that adjustment fatigue, public resistance, and weak communication strategies are undermining the impact of reforms in Nigeria.

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The IMF recommended rethinking reform strategies, urging countries like Nigeria to adopt measures that mobilise public support for deep structural changes.

It pointed out the need for greater attention to communication and engagement strategies, reform design, compensatory measures, and rebuilding trust in public institutions.

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NMDPRA seals oil, gas retail outlets in Delta over sharp practices

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The Nigerian Midstream and Downstream Petroleum Regulatory Authority, NMDPRA, has sealed petroleum retail outlets and gas plants over sharp practices in Delta.

Their offenses bordered on under-dispensing, operating without valid licenses and other illegalities within the filling stations.

They were sealed by the surveillance team of the regulatory authority at Asaba and Ibusa in the state.

The Delta State Coordinator of NMDPRA, Engr. Victor Ohwodiasa, revealed over the weekend that the authority would not tolerate a situation where people would be shortchanged as a result of under-dispensing and other illegalities.

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Ohwodiasa called on petroleum marketers to ensure that their metres are well-calibrated and sell accurately.

According to him, the awkward dealings included but not limited to under-dispensing, product quality, suspected diversion, illegal bunkering activities, illegal discharge of unauthorised petroleum products in unauthorised locations.

“In line with our mandates, we constantly visit petroleum retail outlets to ensure they sell one litre for one litre.

“Agreeably, there are bound to be variations due to mechanical error in their machines but these are subject to limits, when it exceeds, we shutdown the facilities,” he said

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“Based on what we have been doing to ensure the consumers are not shortchanged. We have been visiting retail outlets across the local government areas in the state to ensure sanity is brought and maintained within the retail outlets.

“This week, we have sealed four stations within the Asaba and Ibusa axis over offences bordering on under-dispensing, operating without valid licenses and illegal activities within the filling stations.

“We will continue to sustain the tempo in this ember months and beyond to ensure products are made available to consumers and sold at the right prices and quantity,” he said.

Ohwodiasa urged the public to always notify the regulatory authority whenever they notice any awkward transactions in their dealing with the petroleum marketers for immediate actions.

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