PHB Ex Boss, Atuche Paid N45m To Church As Tithes From Stolen Money

The Economic and Financial Crimes Commission (EFCC) has accused a former managing director of Bank PHB, Mr Francis Atuche, of using depositors’ funds to pay N45 million in church tithes.

The money paid to two Catholic church branches in Delta State was said to have been transferred from Bank PHB Morgage Limited accounts.

The prosecuting counsel, presented documents in court, some of them e-mails sent as an order to release the sum of N35million to St. Monica Catholic church, Ibusa, Delta State, and another sum of N10million to another St. Augustine Catholic Church. Ogunsola told the court that Atuche sent the money to the two churches in Delta State because he hails from the state.

Ogunsola also admitted knowing two companies: Claremount Nigeria Limited and Claremount Asset Management. He said that Claremount Nigeria Limited had a call account with his bank and the account was owned by Atuche.

Justice Okunnu who presided over the case today admitted all the documents as exhibits and adjourned the case till October 4th, 2012.