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In 2007, the then Vice President Goodluck Jonathan bowed to public opinion and released details of his assets totalling N295, 304, 420. The declaration took place before Muktar N. Dodo of the Abuja High Court on May 30. Mr Jonathan had no foreign accounts or assets.

>> The total worth of Mr Jonathan’s private residences was N67, 990,000 according to that declaration. The buildings include a four- bedroom duplex in Kpansia, Yenagoa, Bayelsa State, valued at N15 million; a four-flat storey building extension of the family house in Yenagoa valued at N10 million and his seven bedroom village home at Otuoke, Ogbia Local Government Area, which was bombed days before his inauguration as Vice President, valued at N18 million and a five-bedroom personal residence in Gwarinpa, Abuja valued at N24, 990,000.

>> Under vehicles and household items, Mr Jonathan declared assets worth N41.8 million. They include a BMW car in Abuja valued at N15 million, generators, electronics, air conditioners, furniture, kitchen utensils and others in Kpansia, Yenagoa and Gwarimpa, Abuja valued at N26 million. The car was declared as a gift while the other items were declared to have been procured from savings.

>> Jonathan also declared vacant and undeveloped plots worth N60.538 million. They include five undeveloped plots of land in Bayelsa State, two undeveloped plots of land in Cadastral Zone BO2 and AO6 in Abuja. He disclosed also a yearly income of N62, 072, 200. These comprise investments in stocks in 16 Nigerian blue chip companies managed by City-Code Trust & Investment Company Limited. His investments also cover four 16-seater passenger boats which he hires to companies and other agencies. The Vice President’s total cash in Nigerian banks (Bank PHB, Union Bank of Nigeria Plc, UBA and others) is put at N58, 984, 123. He stated that the total income includes personal savings and income from his investments including performing stocks and hiring of the boats.

IS THIS FAIR ? One Man and his cohorts in Bank PHB have disrupted the careers and livelihood of over 1000 staff and their families fired recently !

EFCC seizes Atuche's multibillion naira assets *N50bn cash, 18 firms, 15 houses, 17 bank accounts

Written by Lanre Adewole

Friday, March 5, 2010

EMPOWERED accordingly by a federal high court sitting in Ikoyi, Lagos, the Economic and Financial Crimes Commission (EFCC) has seized over N50 billion, 18 companies and 15 houses from the sacked Group Managing Director of Bank PHB, Mr. Francis Atuche.

Atuche was sacked along with heads of other nine banks by the Central Bank of Nigeria (CBN) in the wake of the discovery of alleged fraud in the banking sector running into one trillion naira.

Seventeen bank accounts belonging to him were also frozen.

In one of the accounts domiciled with the bank, N25.95 billion cash was said to have been found.

The commission will also this morning commence the sealing off of all the houses traced to him.

Commission's spokesperson, Mr. Femi Babafemi, confirmed the commencement of the exercise.

The commission had attached all the property traced to Atuche, who is standing trial for his alleged role in crippling the bank, to the Notice of Attachment placed before the trial judge, Justice A.O Ajakaye, who issued the order of temporary forfeiture on March 1, 2010.

Apart from the cash found in his bank account, Atuche also reportedly invested N1.5 billion in Honeywell Flour Mills Plc, N305,889,418 million in Arik Ltd and 500 million units of shares in Afribank Plc.

The houses traced to him are in Ikoyi, Victoria Island, Surulere, VGC Lekki, Ibusa, Delta State, Asokoro, Abuja, with a sole property at 59, Avenue Close, Avenue Road, St. John's Wood, London.

Some of the companies listed as alleged fronts in siphoning depositors' funds included, Guesstrade Services; Sentron Trading; Montra and Investico; Claremount Asset Management Limited; Arabian Probity Management; Clareville Trading and Service Limited; Commerical Trading and Services Limited; Afco Associates Limited; Trenton Trade Limited and Consolidated Business Support Limited.

He was also said to have used 15 fronts, including his wife, children and relatives.

The names listed in the court order included Elizabeth Atuche; Grace Atuche; Victor Udeh; Michael Atuche; Anthony Grace; Joseph Atuche; Nkeolisakwu Atuche; Mrs. Mariam Okonmah; Patrick Atuche and Kemi Ojelabi.

Some of the frozen accounts are SA-400221000004, 2190001272, 1160000011, PNA 0010184100002 and CA 001040100000, all domiciled in Bank PHB as well as A/C Nos; 10100061705 and CA 001020102315 belonging to Elizabeth Atuche.

Some of the houses are 2b Falomo Close, Ikoyi; 21 Kingsway Road, Ikoyi (hotel known as Clonades), 41B Anifowoshe Street, V.I, 11 Raymond Njoku Street, Ikoyi, 2000M 2 Plots of land at Ibusa, Delta State, 46 Mamman Nasir Street, off T.Y Danjuma, Asokoro, Abuja, among others.