In a landmark decision, the Supreme Court has affirmed the conviction of Francis Atuche, the former Managing Director of Bank PHB Plc, for his role in a N25.7 billion fraud scheme.

After a protracted 13-year legal battle, Atuche's guilt was confirmed, and his six-year prison sentence was upheld.

The Economic and Financial Crimes Commission (EFCC) had arraigned Atuche, his wife Elizabeth, and former Chief Financial Officer Ugo Anyanwu in 2011 on a 27-count charge of conspiracy to commit felony and stealing. While Elizabeth was acquitted, Atuche and Anyanwu were found guilty on 21 counts, with the Court of Appeal upholding their conviction in 2022.

The Supreme Court's decision marks a significant milestone in Nigeria's fight against corruption, demonstrating that those who engage in fraudulent activities will be held accountable. The court found that Atuche and Anyanwu had abused their powers, conferring undue financial benefits on themselves without regard to the bank's well-being. Their actions led to the theft of funds from the bank and depositors, with taxpayers' money ultimately used to bail out the bank.

The EFCC successfully proved its case beyond a reasonable doubt, showcasing the commission's dedication to combating financial crimes. The Supreme Court's decision brings finality to this case, with Atuche failing to provide sufficient grounds to discredit the trial court and Court of Appeal's findings.

This ruling serves as a deterrent to would-be fraudsters and a testament to the Nigerian justice system's ability to hold the corrupt accountable. As the country continues to grapple with the challenges of corruption, this decision demonstrates that those who engage in fraudulent activities will face the full weight of the law.