By NBF News

EFCC seals Atuche's properties in Lagos
Wednesday, March 10, 2010

The Economic and Financial Crimes Commission (EFCC), on Tuesday, March 9 placed restraining seals on at least seven properties belonging to the former Managing Director and Chief Executive Officer of BankPHB, Mr Francis Atuche in choice areas of Lagos.

The exercise was carried out to give effect to an ex-parte order granted the commission by a Federal High Court sitting in Lagos compelling Atuche to disclose all his properties to the EFCC on March 1, 2010. Atuche is standing trial on charges of money laundering.

Seven properties belonging to the former bank chief in Lagos were placed 'Under Investigation and Restrained' by the EFCC. The houses are located in Ikoyi, Victoria Island, Lekki and Surulere. Three of the properties are in Ikoyi and they include those on No 11, Raymond Njoku, Ikoyi; N0 2, Falomo Close, Ikoyi and No 21, Alfred Rewane Road, Ikoyi. Two of the properties are in Victoria Island and they are on No 4, Saka Tinubu, Victoria Island and No 14B, Anifowoshe Street , Victoria Island .

Others are one property in Lekki at Road 43, G169, Victoria Garden City, Lekki and another one in Surulere at No 57, Ilesanmi Street, Asoba Private Estate, Surulere. The restraining exercise was carried out without hitch.

The restraining exercise is expected to continue in other locations in Nigeria where Atuche has properties. It will be recalled that several properties belonging to other former bank chiefs being prosecuted by the EFCC had been seized in like manner. They include those of Mr Erastus Akingbola of Intercontinental Bank and Mrs Cecilia Ibru of Oceanic Bank .