Nigeria: N10.9 Billion Fraud - Forensic Expert Says Atuche's Signatures Not Forged

17 June 2014

By Nurudeen Oyewole

Lagos — The trial of former Managing Direc-tor of Bank PHB (now Keystone Bank), Francis Atuche at the Lagos State High Court sitting in Ikeja, yesterday took an interesting dimension when a forensic expert and defence witness, Raphael Onwuzuligbo, told the court that signatures authorising the controversial N10.9 loan were not forged.

The Economic and Financial Crimes Commission (EFCC) had alleged that Atuche, his wife, Elizabeth, and a former Chief Financial Officer of the bank, Ugo Anyanwu, stole about N25.7 billion belonging to the bank by fraudulently describing the sum as loan granted to some alleged phony companies.

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