Atuche, Ojo remanded in EFCC custody – The Nation
October 29, 2009 by Bunmi Awolusi
Sacked Managing Directors of BankPHB and Spring Bank Plc were yesterday ordered to remain in the Lagos detention facility of the Economic and Financial Crimes Commission (EFCC).
Justice Akinjide Ajakaiye of the Federal High Court, Lagos made the order shortly after Francis Atuche and Charles Enaholo Ojo were arraigned before him on a 26-count charge filed by the commission. Atuche and Ojo have been detained by the EFCC since October 16.
EFCC accused them of granting loans without securities to companies in which they have interest, granting loans with inadequate securities, exceeding their approval limits and granting loans without the approval of the Central Bank of Nigeria (CBN).
They were also alleged to have acquired interests in other companies without CBN’s prior approval and failed to take reasonable steps in ensuring the correctness of their bank’s monthly return to the CBN. About N8billion was said to have been involved in their alleged offences.
Atuche and Ojo pleaded not guilty to the charges.
