illicit:
Money don't go to jail

Solsix:
I remember one of bank phb advert when they foresaw cars running on water, they didn't see thier bank was going down

ShenTeh:
Francis Atuche used to be a household name like the Jim Ovias, Cecelia Ibrus, of this world in that generation when bank MDs where demigods.

The woes of BankPHB seems to had worsened with the purchase of a struggling Spring Bank and Atuche's insistence of running the banks separately, hence disregarding the economics of scale that that purchase brought.

The BankPHB story always brings emotions to me because I loved that bank and their branding and customer service was great, but I guess the controversial Sanusi Lamido Sanusi tsunami knew better.

HonNL:


SOURCE

Penguin2:
Some people are heartless.

How can you steal 25bn naira from a company that employed you? How much is their capital?

Jail them for life joor!

Ndi oshi!

Vaughanlanrewaj:

Very valid and intelligent points. I think our legal system is largely to be blamed for it. The case has taken more than a decade and I won't be surprised it goes on appeal and on to the supreme court, taking more years. N25Billion in 2009 was $172.4m which is currently worth N77.6 billion today. That fund was used to fund wastages along with unquantifiable waste of man hours. Why should it take 10 years to establish the difference between professional negligence and criminal negligence for a publicly quoted bank that is under supervision of regulators and auditors? It's completely preposterous and a huge drain on us all. The justice system is way too slow and is encouraging resource allocation inefficiency. The judiciary needs to help us in this country. If they don't do their work more efficiently, the system will eventually consume them too.

Solsix:
I remember one of bank phb advert when they foresaw cars running on water, they didn't see thier bank was going down

MajorLeaguePlay:
10 yrs?! It took 10yrs to conclude a financial crime case? What a lawless country.

And, they need to stop sending Journalists that have no idea how the law works to go cover court cases. He wasn’t sentenced to 126yrs. The Journalist is obviously calculating the sentences consecutively.

Vaughanlanrewaj:


https://www.nairaland.com/331313/atuche-refuses-resign-bankphb-ceo#4646631


This thread was in the twilight of the golden era of Nairaland. It is a decent thread with intelligent exchanges initiated by Suraj . By the time you go through the second link in 2015, you will clearly see how the standard had fallen. I still remember with nostalgia the time when you can have decent and intelligent exchanges here on Nairaland and not now where young folks who should be temperate and teachable make very toxic comments and haul insults at everyone including those old enough to be their grandparents. Thanks for sharing the historical background of the case. God bless you sir.visit www.freestuffsng.com to hunt for free stuff. May God bless Nigeria.

Bola146:
What next.. kirikiri

Solsix:
I remember one of bank phb advert when they foresaw cars running on water, they didn't see thier bank was going down

Rodwave:


Shut up. It's illiterate sycophantic zombie miscreants like you that destroyed this forum with you hate and anti Igbo rhetorics. You think tribal politics will keep you hediots in power in perpetuity? You and your cow leaders will be disgraced.

Penguin2:
Some people are heartless.

How can you steal 25bn naira from a company that employed you? How much is their capital?

Jail them for life joor!

Ndi oshi!