Lagos — A Federal High Court sitting in Lagos, yesterday, stayed proceedings in the N125 billion fraud charge against embattled former Managing Director of Bank PHB (now Keystone Bank), Francis Atuche, by Economic and Financial Crimes Commission, EFCC.
Atuche is standing trial alongside former Managing Director of Spring Bank (now Enterprise Bank), Charles Ojo.
Trial judge is Justice Rita Ofilli-Ajumogobia.
At the hearing in the matter, EFCC informed the court of some pending applications by the accused persons seeking to quash the charge made against them.
But counsel to Atuche, informed the court of an application lodged at the Court of Appeal, Lagos, seeking to set aside the ruling of the former trial judge, who had earlier refused Atuche's application to quash the charge.
Atuche's counsel argued that it would serve the interest of justice for proceedings in the matter to be stayed pending determination of the appeal.
The court, consequently granted the application and stayed the case.