For the second time in less than a month, the
Lagos High Court in Ikeja on Thursday granted bail to former Managing
Director and Chief Executive Officer, Bank PHB Plc, Mr. Francis Atuche.
The trial judge, Justice Lateefat Okunnu, granted the bail in the sum of N50m with two sureties in like sum.
Justice Okunnu, however, turned down the prayer of the accused to predicate the bail on the conditions earlier given by the Federal High Court, Lagos as did Justice Adeniyi Onigbanjo, earlier.
Atuche is facing another two separate charges on theft before Justice Onigbanjo and had been granted bail on May 25.
Justice Onigbanjo had granted him bail before he was re-arraigned by the Economic and Financial Crimes Commission before Justice Okunnu, alongside his wife, Elizabeth, and a former Financial Officer of the bank on June 8.
In granting the bail, Justice Onigbanjo said the charges before him and the ones the accused was facing at the FHC were substantially similar.
But Justice Okunnu had earlier ruled that the charges were different and also stated in her ruling on Atuche’s bail on Thursday that she could not import the bail terms given by other courts.
In granting the former Bank PHB chief bail, she said, “I believe I should exercise my discretionary power to grant the defendant but on the following terms.”
The terms as stated by the judge included the sum of N50m bail with two sureties in like sum.
She further ruled that the two sureties, who must be gainfully employed, must be resident in Lagos.
One of the two sureties, she added must be a member of board of director of a financial bank or other reputable firm in Nigeria which had its head office either in Lagos or Abuja with one of them having a real property in Lagos worth N50m.
Among other conditions, she barred him from traveling abroad till the final determination of the case without an express leave of the court.
By Ade Adesomoju Courtesy Of: Punch
The trial judge, Justice Lateefat Okunnu, granted the bail in the sum of N50m with two sureties in like sum.
Justice Okunnu, however, turned down the prayer of the accused to predicate the bail on the conditions earlier given by the Federal High Court, Lagos as did Justice Adeniyi Onigbanjo, earlier.
Atuche is facing another two separate charges on theft before Justice Onigbanjo and had been granted bail on May 25.
Justice Onigbanjo had granted him bail before he was re-arraigned by the Economic and Financial Crimes Commission before Justice Okunnu, alongside his wife, Elizabeth, and a former Financial Officer of the bank on June 8.
In granting the bail, Justice Onigbanjo said the charges before him and the ones the accused was facing at the FHC were substantially similar.
But Justice Okunnu had earlier ruled that the charges were different and also stated in her ruling on Atuche’s bail on Thursday that she could not import the bail terms given by other courts.
In granting the former Bank PHB chief bail, she said, “I believe I should exercise my discretionary power to grant the defendant but on the following terms.”
The terms as stated by the judge included the sum of N50m bail with two sureties in like sum.
She further ruled that the two sureties, who must be gainfully employed, must be resident in Lagos.
One of the two sureties, she added must be a member of board of director of a financial bank or other reputable firm in Nigeria which had its head office either in Lagos or Abuja with one of them having a real property in Lagos worth N50m.
Among other conditions, she barred him from traveling abroad till the final determination of the case without an express leave of the court.
By Ade Adesomoju Courtesy Of: Punch
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