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Former PHB Bank Chief Allegedly Diverted N45m to Pay Tithe

By on September 27, 2012

Francis Atuche, former PHB CEO on trial for Grand Embezzlement

An Economic and Financial Crimes Commission (EFCC) prosecution witness has disclosed sordid details centered around how former Bank PHP Managing Director, Francis Atuche, diverted N45 million from the bank to pay tithes to two catholic churches in Delta State.

The witness, Bolaji Ogunsola, was the CEO of the PHB’s mortgage banking subsidiary. He disclosed how a bank account with no clear ownership but widely believed by bank employees to be Atuche’s engaged in several dodgy financial transactions.

Instructions on transactions performed on the account were received from the former Group Managing Director’s personal secretary, one Charity Okoma.

Ogunsola told the court presided over by Justice LAteefa Okunnu that the instructions to wire the N45 million to the catholic churches was received via e-mail.

He said, “We received e-mails as usual with a letter from Charity Okoma, who was secretary to the Managing Director.

“In the letter, we were asked to transfer money to St. Augustine Catholic Church and St. Monica Catholic Church, both in Ibusa, Delta State”.

One Comment

  1. Ola Fajemisin

    September 27, 2012 at 12:45 pm

    The idea of churches paying tax to government is very valid