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Former Managing
Director of Bank PHB, Francis Atuche, along with a former official of
the same bank, Charles Ojo, were on Tuesday re-arraigned before a
Federal High Court sitting in Lagos, based on an amended 45-count
charge levied against them by the Economic and Financial Crimes
Commission (EFCC).

This was sequel to
the ruling delivered by Akinjide Ajakaiye, wherein he dismissed the
applications by the defendants, asking the court to quash the charges
levied against them on the grounds that the allegations in the charges
are incompetent, frivolous and defective.

Justice Ajakaiye also dismissed the application by Mr. Atuche asking for an order striking out his name from the charge.

Court dismisses applications

While delivering
the ruling, Justice Ajakaiye identified two issues for determination:
whether there are sufficient bases to try the defendants on the charges
preferred against them by the commission and whether the applicants
(defendants) have made out a case for the charge to be dismissed.

On the first issue,
the judge noted that the defendants based their argument on the premise
that they were indicted by way of information. Citing section 33 of the
criminal procedure act, Justice Ajakaiye noted that criminal
proceedings are conducted summarily and do not require a
proof-of-evidence.

“As against the
trial by information where there is need for proof-of-evidence, in a
summary case, the proof-of-evidence is not required so I agreed with
the prosecution that all the proof-of-evidence needed to show is
possibility and not certainty.

“Certainty comes in
after evidence has been adduced. I am satisfied that the proof of
evidence filed consists of high profile documents related to the charge
and the statement of the accused, also the statement of the witness
incriminates the accused person.”

The judge then dismissed the applications and asked that the plea of the defendants be taken.

Mr. Atuche and Mr.
Ojo, pleaded not guilty to the amended 45-count charge, which borders
on money laundering and granting of reckless loans. They were asked to
remain on their initial bail condition, while the matter was adjourned
to June 7, 2010, when their trial will begin.

History

Mr. Atuche and Mr.
Ojo are facing trial over an alleged N80 billion fraud. They are also
facing trial for their roles in granting a credit facility of N45
billion without any collateral.

The two men were on
October 28, 2009, arraigned on a 26-count charge of granting loans
without security, granting loans above approval limits, as laid down by
the regulations of the bank, acquisition of share capital without prior
approval from the Central Bank of Nigeria, and also of not taking steps
to ensure the correctness of the June, 2009, BankPHB monthly bank
returns.

They had been granted bail before the prosecution filed the amended 45-count charge against them.