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N25.7billion fraud: Court freezes Francis Atuche’s N19.1b in 24 banks, other assets

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ATUCHE

 

A Lagos State High Court sitting in Ikeja has frozen assets and funds to the tune of N19,178,253050 billion allegedly kept in 24 banks by  convicted former Managing Director of the defunct Bank PHB, Francis Atuche.

Justice Lateefat Okunnu made the order sequel to an August 17 application by the Economic and Financial Crimes Commission (EFCC)’s counsel Mr Kemi Pinheiro (SAN) in Charge No. ID/1549/2011 between the Federal Government on the one hand and Atuche and Ugo Anyanwu as first and 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 N25.7billion fraud alongside Atuche

Justice Okunnu, while sentencing the duo last June, ordered that they should make restitution of the N25.7b to the Federal Government to replace the funds stolen from the public to bail out the bank.

The judge, ruling on Pinheiro’s August 17 motion seen by The Nation on Thursday, granted the agency’s 12 prayers pursuant to sections 6(d), 20, 24, 26(1), 30 and 34(1) of the EFCC Act and sections 290, 294 and 297 of the Administration of Criminal Justice Law 2015, filed by the prosecution counsel led by a Senior Advocate of Nigeria (SAN), Mr Kemi Pinheiro.

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Justice Okunnu held: “An order is made restraining the 1st Defendant (Atuche) whether by himself or acting through the persons or entities listed or such other persons including but not limited to his family members or agents, from removing, alienating, disposing of, dealing with or diminishing the value of assets, proceeds of economic and financial crimes or otherwise in the name of the 1st Defendant…”

She noted 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.

The judge further froze any bank account being run and operated by Atuche “personally or jointly, whether in his personal name or otherwise or with the Bank Verification Number: 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 the 16 day of June 2021.”

She 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.

In another order, she restrained the banks from honouring any such instruction from Atuche and his privies.

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The judge added: “A mandatory order of injunction is made directing the named respondent banks to file within 48 hours of service of this Order of this Honourable Court on them returns of the Statements of Account of the 1st Defendant (personally or jointly) whether in his personal name or otherwise or with the Bank Verification Number: 22295357230 and the accounts of persons and entities listed in the aforementioned Schedules A and B maintained with them…”

According to the EFCC, 15 persons were used as a front by Atuche to launder the funds.

They are: Anthony Atuche, Emeka Patrick Atuche, Paul Okobi, Felix Oyiana, Moruf Kazeem Adisa, Olatunji Abiodun, Daniel Enebeli, Aina Olugbenga, Augustine Nwabueze, Omonua Benedict, Oliver King Nduaaron, Dr Chris Ike Ogbechie, Mr Murat Bektaslar, Attah Omataikpo Olukemi and Thomas Etuh.

The 22 firms in which Atuche has an interest in directly or indirectly, according to the EFCC, are Aqua Harvest Ltd, Hubmart Stores Ltd, Hubmart Ltd, Sapphire Capital Management Ltd, Homeland Real Estate Company Ltd, Malechi Foods Ltd, Homeland Meridian Partners Ltd, Promise Investment Ltd, Temple Cottage Hotel Ltd, Wegas Properties Project Ltd, Buckhead Construction Ltd, Claremount Management Services Ltd, Afco Associates Ltd, Platinum Capital Ltd, Ghazali Yakubu Investment Ltd, The Financial (Services) Company Ltd, Venture Resources Ltd, Elizabeth-A Company Ltd, Signature Partners Ltd, Purplepay Technologies Ltd, Oakwood Asset Management Ltd And Conesto Nigeria Ltd.

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Properties directly or indirectly linked to the 1 defendant include Aqua Harvest Farm, Atlantic Hall Road Opposite Mukadam House, Doka Epe, Lagos and Plot 1263, Adeola Odeku Street, Victoria Island, Lagos;

Some are Hubmart Stores, 35 Adeola Odeku Street, Victoria Island, Lagos; Hubmart Stores, 26 Isaac John, GRA, Ikeja, Lagos; Hubmart Stores, Block A10, Plot 2 & 3 Admiralty Way, Lekki Phase 1, Lagos; Lennox Mall, Plot 2 & 3 Admiralty Way, Lekki Phase 1, Lagos; Hubmart Stores, Isheri Road, Omole Phase 1, Ojodu, Ikeja, Lagos; Temple Cottage Hotel, Plot 323 Akin Ogunlewe Street, Victoria Island, Lagos.

Others are 2b Falomo Close, Ikoyi, Lagos; No. 11 Kingsway Layout (Now No. 4 Kingsway Close, Old Ikoyi, Lagos); House on Road 2 VGC, Lekki, Lagos; House 169, Road 43, VGC, Lekki, undeveloped land at Road 2 VGC (1300-2000) Sq. Metres; undeveloped property on Alfred Rewane Road, Ikoyl, Lagos, 418 Anifowoshe Street, Victoria Island, Lagos; 46, Mamma Nasir Street, Off Ty Danjuma, Asokoro, Abuja,

Others are three properties in London: Flat 23, Harley House, Marylebone Road, London; 59, Avenue Close, Avenue Road, St. John’s Wood, London, 18 Wycombe Square, London and W87JD, Isle of Man.

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Oyo school abductions: Makinde signs executive order, restricts Okada 

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Governor Seyi Makinde of Oyo state
has signed Executive Order No. 002 of 2026, aimed at strengthening security, enforcing vehicle registration regulations and improving traffic management across the state.

The governor also announced restrictions on the operations of commercial motorcycle operators, popularly known as “Okada” riders.

The development follows growing concerns over security challenges in parts of the state, particularly the continued captivity of teachers and pupils abducted in Oriire Local Government Area more than 20 days ago.

Speaking during the signing ceremony in his Office on Friday, Makinde said the executive order was designed to ensure strict compliance with existing laws governing vehicle registration and traffic regulations.

He noted that unregistered vehicles, motorcycles, and tricycles have increasingly been used to perpetrate criminal activities within the state.

According to the governor, security agencies often encounter difficulties tracking and investigating crimes involving unregistered vehicles because of the absence of identifiable registration details.

Governor Makinde explained that the executive order would provide a legal framework for the strict enforcement of vehicle registration requirements and other traffic regulations, including measures against driving against traffic and related offences.

According to him, designated enforcement authorities have been empowered to arrest offenders and impound vehicles, motorcycles, or tricycles found violating the provisions of the order.

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The governor said offenders apprehended under the executive order would be prosecuted in accordance with the law, while seized assets and properties would be handled through established legal procedures.

The governor linked the latest security measures to lessons learnt from recent security breaches, especially the abduction of schoolchildren and teachers in Oriire Local Government Area.

“We are living through very trying times; for over 20 days, our teachers and pupils have remained in captivity in the hands of terrorists. Our thoughts and prayers remain with them and with their families who continue to endure unimaginable pain and uncertainty,” He said. 

He assured residents that his administration remained fully committed to securing the safe return of all abducted victims and was working relentlessly with relevant security agencies to achieve that objective.

“As a government, we share in their anxiety and their hope, and we remain committed to doing everything within our power to secure the safe return of every one of them,” Makinde said.

The governor acknowledged the pain being experienced by the affected families and communities, stressing that the abducted teachers and pupils had neither been forgotten nor abandoned.

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While declining to disclose operational details for security reasons, Makinde maintained that extensive efforts were ongoing behind the scenes and urged residents not to mistake the government’s silence for inaction.

One of the major highlights of the executive order is the restriction placed on commercial motorcycle operations across Oyo State.

Makinde announced that commercial motorcycle operators would no longer be permitted to operate between 10:30 p.m. and 5:30 a.m. statewide, describing the measure as part of additional efforts to improve security and public safety.

The governor said the restriction became necessary as part of broader strategies to curb criminal activities and strengthen surveillance across communities.

He appealed to residents to actively support security agencies by providing timely information on suspicious movements and activities.

According to him, security remains a collective responsibility that requires the cooperation of all citizens.

“If you see something, say something, and authorities will do something,” he said, while reminding residents of the state’s toll-free emergency number, 615, for reporting security threats and emergencies.

Makinde also urged residents to remain vigilant, united and resilient despite the current security challenges, warning against allowing fear to undermine communal harmony and confidence.

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He commended security agencies and members of the state’s security outfit, Amotekun Corps, for their dedication, sacrifices and professionalism in responding to security threats across Oyo State.

The governor expressed optimism that with sustained collaboration among security agencies, community stakeholders, and residents, the abducted teachers and pupils would be rescued safely and security across the state would be further strengthened.

In his address at the event, the Attorney General of the state and Commissioner for Justice, Abiodun Aikomo, stated that the implementation of the order would be carried out by relevant agencies, including the Oyo State Road Traffic Management Authority (OYRTMA), the Nigeria Police Force and other law enforcement bodies, which would be required to submit periodic reports on enforcement activities to the state government.

To ensure transparency and accountability, Aikomo stated that the Office of the Director of Public Prosecutions would provide oversight on prosecutions arising from the enforcement exercise, while members of the public would be encouraged to report any misconduct by officials involved in implementing the order.

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Nigeria set to repatriate over 1,000 nationals from South Africa as violence continues

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The Federal government has kick-started plans to bring back home more than 1,000 Nigerians from South Africa as concerns grow over rising anti-immigrant sentiments and renewed xenophobic tensions in the southern African nation.

According to reports, Nigeria’s Ministry of Foreign Affairs confirmed on Friday that screening for a voluntary repatriation programme began on Thursday, with authorities expecting over 1,000 Nigerians to participate.

Foreign ministry spokesperson Kimiebi Ebienfa told AFP that the final number of those seeking to return home had not yet been determined but noted that the figure was expected to exceed 1,000.

“Total figure not out yet,” he said. “We are expecting over 1,000 persons.”

The move follows a similar action by Ghana, which recently repatriated hundreds of its nationals from South Africa amid increasing fears over protests and violence directed at foreign nationals.

In a statement dated Tuesday, Nigeria’s High Commission in Pretoria said it had “negotiated waivers with host authorities” so that those with “immigration-related offences” would be allowed to leave on the eventual repatriation flights rather than be detained.

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South Africa, until recently the continent’s most industrialised economy, has long attracted workers from across the region.

But saddled with an unemployment rate of over 30 per cent, it has seen repeated spurts of xenophobic protests — including renewed violence in recent weeks.

The latest tensions have revived uncomfortable debates across Africa about xenophobia, migration and the gap between pan-African rhetoric and realities facing migration on the continent.

An ultimatum by one citizen-led group for illegal migrants to be expelled by June 30 has raised fears of violence after bouts of anti-immigrant unrest in the past that claimed dozens of lives.

Last month, Ghana repatriated some 300 people, the first batch of what authorities said was expected to be a total of about 800 Ghanaian nationals.

The South African government has said it is stepping up enforcement against undocumented immigrants but urged citizens not to take matters into their own hands.

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There are more than three million foreigners living in South Africa, or 5.1 per cent of the population, according to the statistics agency.

More than 63 per cent come from countries in the 16-member Southern African Development Community (SADC) bloc.

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Again, WAEC candidates write exams with Torchlight

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The 2026 West African Senior School Certificate Examination (WASSCE) got off to a dark start on Thursday across several centres in Oyo, Lagos, Ogun and Osun states.

Due to the late arrival of examination materials, several candidates were forced to sit for papers late into the evening.

On Monday, candidates reportedly waited several hours before writing the Physics Essay and Objective papers, which were scheduled for 2pm and 3:30pm respectively.

The delays persisted on Wednesday, with the General Mathematics Objective paper starting at 6:30pm in some centres and as late as 8:30pm in others, leaving candidates to finish the examination after 10pm.

The situation was said to be particularly severe in some centres in Ibadan, the Oyo state capital.

The first batch of the Agricultural Science practical examination was slated for 2pm, while the second batch was scheduled for 3:30pm.

However, as of 8pm, some centres in the state had yet to commence the examination.

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Due to the delay, candidates reportedly sat the examination under poor lighting conditions.

In a viral video, several students could be seen writing the examination with torchlights, mobile phone flashlights and solar-powered lamps.

The incident has since triggered widespread outrage on social media.

Mariam Kehinde, an X user, said that as of past 8pm on Thursday, her sister was yet to return home from the examination centre.

“What exactly is happening in this country sef? My sister left for her WAEC exam since morning and still hadn’t returned home,” she wrote.

“She called around 6pm saying their exam paper had just arrived at that time nitori olorun. She was still at the exam centre, and my mum even had to wait.”

Adedeji Adeyinka, another user, described Thursday’s conduct of the examination as “particularly disturbing”.

“Candidates writing Government completed the Theory paper and were instructed to wait for the Objective paper, only for the question paper to arrive more than FOUR HOURS later,” he posted.

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“How is this acceptable in a national examination? Even more shocking was the situation faced by students writing Agricultural Science Practical. An examination scheduled for 2:00 p.m. did not commence until about 9:00 p.m. in many parts of Oyo State.

“A seven-hour delay is not a minor inconvenience. It is a systemic failure.”

Another X user identified as Mum Ire also lamented the shortage of question papers during Wednesday’s Mathematics examination.

“Out of 75 candidates, only 35 Mathematics question papers were brought to the examination centre for the entire exam yesterday,” she wrote on Thursday.

“When did WAEC start operating like this?

“Now we are being told that the Agriculture Science practical questions are on the way at 8:10 pm.”

Joel Abodunrin also decried the shortage of question papers.

“WAEC’s been doing well until today,” he wrote on Wednesday.

“An examination hall of about 250 candidates and having Mathematics question papers for only 120.

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“Getting to tear the questions into pieces so that all could have something to do.”

Hakeem Olaoye, another user, said candidates were being made to write examinations at unreasonable hours.

“WAEC exam being conducted late in the evening.

“The Agric practical exam that was supposed to be held by 2pm just commenced some minutes after 7pm,” he wrote.

“Very disheartening indeed. Likewise for Mathematics. A school with 130 students was given 16 question booklets to share among.”

The development has raised concerns about the safety of candidates amid the country’s growing security challenges.

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