Alleged N25.7b theft: I am not a thief, Atuche tells court

FRANCIS IWUCHUKWU

Sacked former Managing Director (MD) of Bank PHB, Francis Atuche, yesterday debunked the N25.7 billion theft charge instituted against him by the Economic and Financial Crimes Commission (EFCC).

The sacked bank chief who was testifying before Justice Lateefa Okunnu of a Lagos High Court sitting in Ikeja in his ongoing trial over the alleged charge informed the judge that he was not a thief.

Led in evidence by his lawyer, Tayo Oyetibo (SAN), the former MD maintained that his catholic upbringing was responsible for his high moral conduct. According to Atuche, "I am a Catholic. I cannot be a thief. I was baptised in the church and before I left primary school, I have started receiving Holy Communion which I do everyday.

"I cannot receive Holy Communion when I am not in the state of grace. I cannot be a thief because God has been gracious to me."

The removed MD stated further that he had never stolen anything in his life, with a position that
this was attested to by what he termed the excellent testimonial issued to him by the various schools he attended. He intimated the judge that he joined United Bank for Africa Plc (UBA), in Ibadan as a clerk on April 4,1982 and was promoted to the post of supervisor after nine months.

Prior to Atuche's testimony, a businessman and Managing Director of Chris Edik International Limited and Chris Edik Pharmaceutical Limited,
Chief Christian Imoka had informed the court that he was a customer of Bank PHB while Atuche held sway. Imoka also revealed that he was granted several credit facilities by the bank in a faster process than other banks where he indicated the same interest.

The witness explained that often times, he would regularise the transaction after the money had been disbursed, especially when he was outside the country. The businessman also told Justice Okunnu the consequent upon his close relationship with the bank, he later purchased some of its shares for N1.3 billion through a private placement.

However, under cross-examination by lawyer to the anti-graft agency, Mr Kemi Pinheiro (SAN), the witness denied being indebted to Bank PHB's predecessor, Keystone Bank, to the tune of N2.1 billion. According to him, "I am owing the bank less than N100 million and I am paying as at when due because it is a long term loan."

The witness also denied ownership of Platinum Oil and Gas Limited which Pinheiro claimed was used by Atuche to carry out some shady deals. Imoka further informed the judge that
he joined several other shareholders to institute a suit against the Central Bank of Nigeria (CBN) for nationalising Bank PHB.

But inspite the denial, the EFCC lawyer insisted that Imoka's internet profile indicated that he was the owner of Platinum Oil and Gas Limited. The anti-graft agency's lawyer also argued that the witness only came to testify because he was aggrieved with the CBN and Keystone Bank for taking over the bank.

The matter has been adjourned till July 7, 2014 for continuation of trial.