But efforts of the board of Bank PHB to persuade Atuche to voluntarily resign over the audit report of the bank proved abortive yesterday at a meeting exclusively for the non-executive directors in Lagos. The directors are said to have briefed CBN about this development.
With Atuche’s refusal to step down, he seems to have jeopardised the opportunity of BankPHB to appoint its own Managing Director to work with CBN.

The apex bank may have to appoint someone to take charge of the bank. It was gathered that BankPHB has three major issues. One is the N65 billion, which it used to acquire Spring Bank, the second is the N50 billion forbearance the bank sought for Spring Bank, while the third is the N23 billion loss alleged to have been incurred during the tenure of the CBN Interim Management Board of Spring Bank led by Sulleyman Ndanusa.

During the tenure of the immediate past CBN Governor Chukwuma Soludo, BankPHB  had tried to secure a N50 billion forbearance, which was presented at the last board meeting that Soludo attended. The request was said to have been turned down.

When the incumbent CBN governor came in, the same request was also presented to the apex bank’s board and it was also rejected.
The thinking of the board was that if at all any forbearance was to be given, it should have been for everyone who wanted to buy Spring Bank and not specifically for BankPHB.

THISDAY gathered that officials of BankPHB are currently in talks with CBN to persuade it to remove the N23 billion losses incurred during Ndanusa’s tenure from its books on the excuse that they were not in the know when they acquired Spring Bank.

But the CBN was said to have declined, insisting that BankPHB ought to have done its due diligence before acquiring Spring Bank.

toba:

If atuche has a point to prove his innocense why shd he resign?Has he given loans like his past 5 former colleagues that were sacked?So let him follow his hrt.Wot about other 4 banks CEO,they may also resign b4 d hammer strikes nxt monday.As 4 sanusi,i tink hes rushing things.D guy is overzealous.Less dan 5months in office, he sacked banks ceo,he has changed naira notes,printed more currency to make N400billion he gave to 5 erring banks.To me hes too much in a hurry as if being chased/competing for records

toba:

If atuche has a point to prove his innocense why shd he resign?Has he given loans like his past 5 former colleagues that were sacked?So let him follow his hrt.Wot about other 4 banks CEO,they may also resign b4 d hammer strikes nxt monday.As 4 sanusi,i tink hes rushing things.D guy is overzealous.Less dan 5months in office, he sacked banks ceo,he has changed naira notes,printed more currency to make N400billion he gave to 5 erring banks.To me hes too much in a hurry as if being chased/competing for records