By Abdulwahab Abdulah
LAGOS – Justice Bisola Okunnu of an Ikeja High Court, yesterday, granted bail to the former Managing Director of Bank PHB Plc, Mr. Francis Atuche, in the sum of N150m, with two sureties in like sum.
Justice Okunnu ordered that the sureties must be gainfully employed and resident in Lagos.
The court added that one of the two sureties must be a member of Board of Director of a bank or other reputable firm, with its head office either in Lagos or Abuja.
The court held that it (court) was not under obligation to grant bail to the defendant under the same condition imposed by the Federal High Court, Lagos, as pleaded by his counsel.
The court barred Atuche from travelling abroad until the final determination of the case, without the leave of the court, while the accused is to report on the first working day of every month to the Economic and Financial Crimes Commission, EFCC, office.
Atuche is facing two separate charges of theft before Justice Adeniyi Onigbanjo of the State High Court, which had also granted him bail on May 25, following which he was re-arraigned by EFCC before Justice Okunnu, alongside his wife, Elizabeth; Messrs Dayo Famoroti, Danjuma Ocholi; and Mrs Agnes Ebubedike.