LAGOS — Economic and Financial Crimes Commission’s, EFCC, witness, Mr. Alex Ojukwu, yesterday, told a Lagos High Court sitting in Ikeja, at the on-going trial of former Managing Director of Keystone Bank (formerly Bank PHB), Mr. Francis Atuche, his wife and the former Chief Operating Officer of the bank, Ugo Anyanwu, that no official of the bank was liable for customers’ default on account opening.
Ojukwu, formerly head of the remedial management section and centralised shares services of Bank PHB, told the court that Anyanwu could not be held liable for the default by some customers, whose accounts were opened through the deferral policy of the bank.
He said no official of the bank, who had acted in good faith by bringing customers to the bank under the deferral policy, could be made liable for the default of that customer.
Testifying before Justice Lateefah Okunnu, the witness said the deferral policy of the bank allowed accounts to be opened for customers on the understanding that proper documentations could be done later.
Ojukwu is the 8th prosecution witness for the prosecution.
According to him, under the default system, accounts were opened for Tradjek Limited, Extra-Oil limited and Future View Limited, Companies linked to Mrs Elizabeth Ebi, who had earlier admitted benefiting from N10.9billon facility from Bank PHB during Atuche’s era.
The witness in his statement, which was admitted as evidence, had confirmed that Anyanwu had instructed him to open the accounts for the three companies with the understanding that he was to rectify the documents later.
Another witness, Mrs Ifetayo Obi, Head of Treasury Operations, whose statement was admitted as evidence, during cross examination, said she was directed by her boss to make some money transfer to the companies sometimes in 2008 after her boss endorsed the transaction.
She added that she never endorsed the directive from her boss during the money transfer even though she noticed there was no customers’ instruction accompanying the directive.
Further hearing on the matter continues today.
By Innocent Anaba
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