By Chioma Iruke
A Nigerian court sitting in Lagos State, Nigeria, has frozen assets and funds totalling N19,178,253,050 allegedly kept in 24 banks by a convicted former bank Managing Director, Francis Atuche.
The presiding Judge, Justice Lateefat Okunnu made the order, following an August 17 application by counsel to the Economic and Financial Crimes Commission (EFCC), Mr. Kemi Pinheiro (SAN), in a suit between the Federal Government on one hand, and Atuche and Ugo Anyanwu as first and second defendants.
Anyanwu, a former Chief Financial Officer of the bank, is serving time in jail, following his conviction and sentencing to six years imprisonment last June 16 for N25.7 billion fraud alongside Atuche.
Justice Okunnu, while sentencing the duo last June, ordered that they 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 averred 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.
She also froze any bank account being ran 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”.
Justice Okunnu also barred Atuche and his privies – including his lawyers – 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.
