The Court of Appeal sitting in Lagos on Thursday has reduced the conviction of former Managing Director of defunct Bank PHB Plc, Francis Atuche, from 12 years to 6 years. Atuche was sentenced for embezzling N25.7bn.
Recall that Justice Lateefa Okunnu of the Lagos State High Court sitting at Ikeja had on June 16, 2021, sentenced Atuche, to 12 years’ imprisonment for N25.7bn fraud in the bank.
But dissatisfied with the judgement of the lower court, Atuche approached the court of Appeal to challenge the judgment.
