The Lagos Zonal Directorate of the Economic and Financial Crimes Commission (EFCC) on Monday, December 16, 2024, re-arraigned Francis Atuche, a former Managing Director of the defunct Bank PHB Plc, alongside two others on a nine-count charge of conspiracy to commit a felony and forgery. The case was heard before Justice O. O. Abike-Fadipe of the Special Offences Court in Ikeja, Lagos.

Atuche, along with Nnosiri Joachim (also known as Ifeanyi) and Uguru Onyike, was first arraigned before Justice Habeeb Abiru, who has since been elevated to the Court of Appeal. The case later began de novo before Justice Adeniyi Onigbanjo, who has now been transferred to another division of the Lagos High Court.

One of the charges reads: "That you, Mr. Francis Atuche, Nnosiri Joachim (a.k.a. Ifeanyi), and Uguru Onyike, on or about the 4th day of March, 2013, in Lagos, within the Ikeja Judicial Division, with intent to defraud, conspired to commit felony to wit: forgery of a document titled: 'BOARD RESOLUTION' of Future View Securities Limited dated 17th December, 2007.”

Another charge against Joachim reads: "That you, Nnosiri Joachim (a.k.a. Ifeanyi), on or about the 4th day of March, 2013, in Lagos, within the Ikeja Judicial Division, with intent to defraud, knowingly and fraudulently used a false document titled 'Board Resolution of Trajek Nigeria Limited' dated 15th December 2007, purportedly signed by one Elizabeth Ebi (a Director of Trajek Nigeria Limited), to Keystone Bank Limited as genuine.”

The defendants pleaded “not guilty” to all charges. The EFCC’s counsel, Fanen Anum, informed the court that the case was starting afresh and requested trial dates. Counsel for the first defendant, Anthony Ejere, prayed the court to allow his client, who is already serving a conviction in another matter, to retain the bail earlier granted by the court. Similarly, Clement Onwuenwunor, SAN, counsel for the second and third defendants, requested that his clients continue to enjoy their previous bail conditions.

Justice Abike-Fadipe granted the defence’s requests, allowing the defendants to remain on the earlier bail terms. The judge adjourned the case for trial on May 6, 7, 8, 13, 20, and 27, 2025.

The EFCC’s latest charges against Atuche stem from his alleged collaboration with Nnosiri, an office assistant at Keystone Bank’s Central Sharing Services Centre in Lagos. Nnosiri reportedly delivered forged documents to the bank’s corporate headquarters for presentation as exhibits in an ongoing case between Atuche and the EFCC before Justice Lateefat Okunnu.

The forged documents, which had been missing since October 2009, included board resolutions from Future View Securities Limited, Extra Oil Limited, and Trajek Nigeria Limited. The case underscores the EFCC’s commitment to prosecuting financial crimes and ensuring accountability in the banking sector.