Nigerian Bank Nigeria Bank PHB Plc – Ex-Bank PHB Boss Granted Bail
Director Of PHB
Source: Akin Kuponiyi, P.M News, November 09, 2009
A Federal High Court sitting in Lagos this morning, granted bail to the former Managing Director, Bank PHB, Francis Atuche and a former director of the bank, Charles Ojo, alleged to have misappropriated about N85b belonging to the bank.
In his ruling this morning, the presiding judge, Justice Akinjide Ajakaiye, said the court granted them bail because there was no compelling reason not to do so, as there is nothing in the counter affidavit of the EFCC to show that the accused persons will jump bail. The judge ruled that the purpose of bail is to ensure that the accused will come back to face trial.
Consequently, the two accused bank directors were granted bail in the sum of N50 million each with one responsible surety in like sum. Thereafter, Justice Ajakaiye adjourned the matter till 14 December for trial to commence
Nigerian Bank Nigeria Bank PHB Plc
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