By Abdulwahab Abdulah

LAGOS-Former Managing Director of Bank PHB Plc, Francis Atuche, was, yesterday, remanded in prison custody after he was re-arraigned on a N25.7 billion fraud charge alongside his wife, Elizabeth and their associate, Ugo Ayanwu, by an Ikeja High Court.

The accused persons, who were re-arraigned by the Economic and Financial Crimes Commission, EFCC, before Justice Bisola Okunnu,  were accused of defrauding the bank. They had earlier been docked over a similar charge before another state high court.

Trial judge, Justice Lateefa Okunnu, allowed Atuche’s wife to continue on an earlier bail  granted her. However, Atuche, who came to court from home was not lucky, as he was refused bail.

Despite the fact that he had been granted bail by both Federal High Court and Lagos High Court in related matters, Atuche was ordered to be remanded in Kirikiri, while Ayanwu was also asked to go to prison until he was  able to perfect his bail.

His counsel had urged the court to take judicial notice of the existing bails granted Atuche and appealed to the court to allow the accused persons  to continue on the bails granted them earlier.