By Abdulwahab Abdulah

LAGOS – Former Managing Director of BankPHB Plc, Mr. Francis Atuche, was, Wednesday, admitted to bail by an Ikeja High Court over alleged offence of stealing of N11.1 billion belonging to the bank.

Atuche, who had been  in Economic and Financial Crimes Commission, EFCC, custody for more than two weeks, was granted bail in the sum of N50 million with two sureties in like sum.

The trial judge in the matter, Justice Adeniyi Onigbanjo,  granted bail to the former bank chief on the conditions earlier given by a   Federal High Court  judge, Justice Akinjide Ajakaye, who had also granted Atuche bail on a similar case pending before the Federal High Court, Lagos, on November 9, 2009.