BY Abdulwahab Abdulah & Oamen Areguamen
LAGOS—The former Managing Director of Bank PHB Plc, Mr. Francis Atuche, and his wife, Elizabeth, yesterday, asked an Ikeja High Court, Lagos,  to quash the new charge  against them by the Economic and Financial Crimes Commission, EFCC. They also want the court to restrain the agency from bringing any new charge against them.

Giving 16 reasons why the court should quash the charge, they argued that the charge was an abuse of court process since a similar charge had been filed by the EFCC at the Federal High Court, Lagos, as  the present charge was brought maliciously.

The Atuches, in a preliminary objection,  challenging the charge, argued by their counsel, Mr. Rickey Tarfa, SAN, are  asking the court to quash the charge against them on the grounds that it was incompetent.

They also want the court to restrain the EFCC and its operatives from preferring any new charge against them, which has the material substance with the one they are facing presently, contending that the anti-graft agency has no right to prosecute them under the Lagos State Criminal Code Law since the EFCC is a creation of federal legislation called the EFCC Act.

Responding to the motion, Kemi Pinheiro, SAN, on behalf of EFCC, argued that the charge filed by the commission against Atuche and others at the Federal High Court was different from the one they are facing at the Lagos High Court.

He added  that EFCC has power under the statute creating it to prefer a charge and prosecute alleged offenders without the need for delegated powers.

According to the new charge, Atuche and others were alleged to have conspired to steal and actually stole the sum of N3.5 billion between November 2007 and April 2008 from the bank whilst Atuche was the Managing Director.

The trial judge, Justice Lateefah Okunnu, after listening to arguements,  adjourned till  June 22,  to rule on the application.

They were further alleged to have used some of the stolen money to purchase 140,625,000 units of Bank PHB shares on behalf of Guesstrade Services and Clearville Business Support“My Lord can look at the counts filed at the Federal High Court and the one filed here to see whether they are similar or not, while that of the Federal High Court has the names of 14 companies, 11 of those companies are not here. They are not the same. This Preliminary objection is unmeritorious and dilatory; I pray this court to dismiss it”

Other parts of the allegedly stolen funds were said alleged to have been used to purchase 112,500,000 units of Bank PHB share. They were further accused of stealing funds which were parts of proceeds from the sale of Afribank Plc, which is a joint property of Caverton Helicopters Ltd and Bank PHB Plc.