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The Rise And Fall Of Hubmart Super Stores……+ How Francis Atuche’s Incarceration Affects Its Fortunes

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Before ex-bank chief, Francis Atuche’s incarceration, the Hubmart chain of stores was the go-to supermarket for the upper-middle-class due to the top-notch service it provided and the quality of goods for sale. The success of the flagship store on Adeola Odeku prompted Atuche and his wife, Elizabeth, to replicate the store in other parts of the Lagos metropolis, such as Lekki Phase 1, Ojodu, and Ikeja GRA. From making shopping a pleasurable experience to its tasty meals and fast food, which competed favorably with some of the best food outlets in Lagos, Hubmart was the brand to beat. But all that is now in the past as it has since lost the spark that got people trooping to its various branches to shop. Shoppers now leave disappointed unable to purchase items as shelves are now empty, food sold there is reportedly stale and there is palpable low morale among the workers.

Hubmart’s flagship store on Adeola Odeku Road is the worst hit as passersby have been heard telling anyone who plans to drive in to shop, to avoid the place like a plague. No doubt, this development has largely being caused by lack of attention from the promoters, who seemed to have focused more on emerging victorious in a long-drawn fraud case instituted against them by the Economic and Financial Crimes Commission. Unfortunately, they lost the case and Francis Atuche is currently serving a six-year jail sentence for appropriating the sum of N56 billion.

Considered a wizard when it comes to banking, Francis would later rise to the peak of his career as the managing director of Bank PHB now Keystone Bank. With position came influence and then money which he had full access to. Not only was he well respected in the banking industry, Atuche and his wife also courted the limelight. They were the quintessential couple who never failed to light up any social event they stepped into together.

While Francis was always dressed in some of the best designer silk suits, his wife was no less different. From high street apparels to jewelries made from different precious stones, Elizabeth was always drenched in them. Gracing newspaper and magazine covers was like breathing to them. But what many didn’t know was that the couple was involved in money laundering, using depositors’ funds.

In 2011, they were arrested gestapo style by the EFCC in their palatial Ikoyi home for laundering N8.6 billion. Atuche was also accused of using his wife’s company, Ghazali Yakubu Investment Ltd, to steal depositors’ funds totaling over N100 million. He was arraigned on two separate charges before Justice Adeniyi Onigbanjo of the Ikeja Division of the Lagos State High Court for allegedly conspiring with Funmi Ademosu, a director in the bank, to steal N4.2 billion, which was part of the proceeds from the sale of 241,579,284 units of Afribank shares and joint property of Caverton Helicopters Ltd and Bank PHB.

In the second charge, Atuche allegedly conspired with another bank director, Lekan Kasali, to steal N7.2 billion, which they fraudulently described as loans to Cogipar Nigeria Limited. His wife, Elizabeth was arraigned before another judge, Lateefah Okunnu, on a three-count charge of conspiracy and stealing N11.4 billion being property of Bank PHB Plc by fraudulently converting the proceeds of several illegal loans for the acquisition of 337,500, 000 units of Bank PHB Plc shares on behalf of Ghazali Yakubu Investment Ltd. and AFCO Associates Limited.

The following month after they were arrested, the EFCC amended the charges against the Atuches and re-arraigned them before Justice Okunnu on a 27-count charge bothering on conspiracy to commit felony and stealing of N25.7 billion belonging to the bank. The amended charges alleged that Atuche, his wife, and Ugo Anyanwu, a former chief financial officer of Bank PHB, used some of the stolen funds to purchase 140,625,000 units of Bank PHB shares on behalf of Guesstrade Services and Clearville Business Support. They also allegedly used part of the money to purchase 112,500,000 units of Bank PHB share.

The trial which began in July 2011 lasted 10 years. Witness after witness testified to Francis Atuche’s corrupt practices, from crediting a customer’s account unknowingly with a N10.9 billion loan to granting N14.3 billion loans to some companies without the approval of the bank’s board and releasing the sums of N35 million and N10 million as tithes to St. Monica Catholic Church and St. Augustine Catholic Church, both in Delta State.

From initially discharging and acquitting Atuche, who fought to halt the trial in his favour, to dismissing the case due to lack of jurisdiction, to eventual reopening of the case after a Supreme Court ruling, the case was finally concluded in June 2021. Shortly before he was sentenced to six years imprisonment by Justice Okunnu, Francis who had formerly boasted that as a Catholic who was baptised in the church and one who takes the Holy Communion every day, he could not possibly be a thief because God has been gracious to him, suddenly began to plead for leniency.

“As a professional banker and chartered accountant, I don’t want to become a convict. I pray that God will place in your heart to be kind. I plead from the bottom of my heart. I’m extremely sorry, today will be a turning point in my life, I’m very sorry,” he told Okunnu.

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1.4 million UTME candidates scored below 200 – JAMB

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The Joint Admissions and Matriculation Board, on Monday, released the results of the 2024 Unified Tertiary Matriculation Examination, showing that 1,402,490 candidates out of 1,842,464 failed to score 200 out of 400 marks.

The number of candidates who failed to score half of the possible marks represents 78 per cent of the candidates whose results were released by JAMB.

Giving a breakdown of the results of the 1,842,464 candidates released, the board’s Registrar, Prof. Ishaq Oloyede, noted that, “8,401 candidates scored 300 and above; 77,070 scored 250 and above; 439,974 scored 200 and above while 1,402,490 scored below 200.”

On naming the top scorers for the 2024 UTME, Oloyede said, “It is common knowledge that the board has, at various times restated its unwillingness to publish the names of its best-performing candidates, as it considers its UTME as only a ranking examination on account of the other parameters that would constitute what would later be considered the minimum admissible score for candidates seeking admission to tertiary institutions.

“Similarly, because of the different variables adopted by respective institutions, it might be downright impossible to arrive at a single or all-encompassing set of parameters for generating a list of candidates with the highest admissible score as gaining admission remains the ultimate goal. Hence, it might be unrealistic or presumptive to say a particular candidate is the highest scorer given the fact that such a candidate may, in the final analysis, not even be admitted.

“However, owing to public demand and to avoid a repeat of the Mmesoma saga as well as provide a guide for those, who may want to award prizes to this set of high-performing candidates, the Board appeals to all concerned to always verify claims by candidates before offering such awards.”

Oloyede also noted that the results of 64,624 out of the 1,904,189, who sat the examination, were withheld by the board and would be subject to investigation.

He noted that though a total of 1,989,668 registered, a total of 80,810 candidates were absent.

“For the 2024 UTME, 1,989,668 candidates registered including those who registered at foreign centres. The Direct Entry registration is still ongoing.

“Out of a total of 1,989,668 registered candidates, 80,810 were absent. A total of 1,904,189 sat the UTME within the six days of the examination.

“The Board is today releasing the results of 1,842,464 candidates. 64,624 results are under investigation for verification, procedural investigation of candidates, Centre-based investigation and alleged examination misconduct.”

Oloyede also said the board, at the moment, conducts examination in nine foreign centres namely: Abidjan, Ivory Coast; Addis Ababa, Ethiopia; Buea, Cameroon; Cotonou, Republic of Benin; London, United Kingdom; Jeddah, Saudi Arabia; and Johannesburg, South Africa.

“The essence of this foreign component of the examination is to market our institutions to the outside world as well as ensuring that our universities reflect the universality of academic traditions, among others. The Board is, currently, fine-tuning arrangements for the conduct of the 2024 UTME in these foreign centres,” he said.

 

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Nigerian Pastor Slams N500Million Suit On Church Member Who Demanded Return Of His Lexus SUV After Alleged Failed Prophecy

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Dr. David Emmanuel Ovie, the Head Pastor and General Overseer of the God in Action Liberation Mission has slammed a five hundred million naira (N500 million) suit on one of his church members who demanded the return of his SUV from the church after an alleged failed prophecy.

We gathered the church member identified as Temitope Monday Diamond gave his Lexus RX330 to the church after a prophecy.

 

Temitope told SaharaReporters that the pastor of the church at Okuokoko in the Uvwie Local Government Area of Delta State asked him to sacrifice his most precious property so that things could work well for him financially.

 

He said, “This pastor told me to sacrifice my most precious property so that things will be working well for me financially which I did by sacrificing my vehicle, Lexus RX330.

 

“After four months and things had not picked up as he said, my wife called him to know what was happening but he got angry and told me that my wife was rude and that he wanted to refund the money he got when he sold the vehicle – which is N4 million.

 

“We have been waiting for him to send the money since around December and January but he had refused to do so. We called and texted him but no response, we had to go to the church with a few friends and two soldiers who were not armed, just to accompany us (for security purposes).

 

“He called the youths of the community to beat us up before handing us over to Ebrumede police station. When we got there, we were detained. We later got bailed with N200,000 before the Divisional Police Officer could hear from us. The DPO called us to his office and we narrated everything to him as the pastor lied to him that we were kidnappers.

 

“The DPO judged the case in our favour and demanded that the car be refunded or he should pay the N4 million he made from selling the car. He agreed that he would be paying one million naira every week in February so that by month’s end, he would finish paying the money.

 

“By the second week of March, he still hadn’t paid a penny. Then the IPO in charge of the case called to tell us that the lawyer was pleading on his behalf and that he would be paying one million naira every month end. Then I got angry and said if he (the pastor) wanted to stress me over the money, he should return my car for breaching the agreement we had at the DPO’s office.

 

“We later heard that he filed a suit against us at Orerokpe High Court. The court was to sit on Monday, April 15 but was adjourned to May 10.

 

“The lawsuit says he is suing us for N500 million for coming to his church with an army and that the car cannot be returned because it had been sold. And that we are using police from Asaba to threaten him and his members, which is false.”

 

However, in a court document obtained by SaharaReporters on Tuesday signed by one Ogedengbe, the Applicant (General Overseer) alleged that he was arrested and detained on January 21, which Temitope said was the same day he and his friends stormed the church to ask for the N4 million he had promised to send.

 

The respondents in the document are Temitope Monday Diamond as the 1st respondent; Divisional Police Officer, Ebrumede Police Station, Delta State as 2nd respondent and the Commissioner of Police in Delta State as 3rd respondent.

 

The relief sought by the applicant reads in part, “A declaration that the arrest and detention of the applicant on the 21st day of January, 2024 by officers of the 3rd Respondent attached to the office of the 2nd respondent at the behest of the 1st Respondent is a gross violation of the applicant right to personal liberty guaranteed under section 35 (1) of the constitution of the Federal Republic of Nigeria 1999 (as amended).

 

“A declaration that the threatened arrest of the applicant by officers of the 3rd respondent at the instance of the 1st respondent over demand for the return of a car donation made to the God in Action Liberation Mission is a threatened violation of the applicant’s right to personal liberty guaranteed by section 33(1) of the Constitution of the Federal Republic of Nigeria 1999 (as amended).

 

“The sum of five hundred million naira (N500, 000,000.00 only as damages.”

 

When contacted by SaharaReporters to hear his version of the story, the cleric said, “What I can tell you is that the matter is in court. I charged the matter to court because they came into the church with thugs and started fighting me and trying to harm me.

 

“It was during a live service in the middle of a wedding; that was when my members started fighting them.

 

“They came with weapons; knife and battle axe. One of them came with a gun as I was told. We handed them over to the community chairman while he took them to the police station.”

 

When asked whether he was arrested and detained by the police on January 21 as claimed in the court document, he said, “My lawyer asked me not to answer any further questions.”

 

“I don’t know what the constitution says, I only know the bible,” he added.

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Aare Abisoye Fagade Stands with Oyo State: Condemns Governor Seyi Makinde’s Assault on Democracy

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Today, with a heavy heart and a deep sense of duty to the people of Oyo State, Aare Abisoye Fagade, a staunch advocate for justice and a revered pillar of the All Progressives Congress (APC), raises his voice in resolute condemnation of the egregious assault on democracy orchestrated by Governor Seyi Makinde.

 

As the heartbeat of democracy in Nigeria, Oyo State has been dealt a grievous blow by Governor Makinde’s calculated campaign of electoral subterfuge. Withholding election materials across the state, Governor Makinde has callously deprived our beloved citizens of their fundamental right to participate in free and fair elections, a right that lies at the very core of our democratic ethos.

 

But this is not merely an attack on the mechanics of an election; it is an attack on the soul of Oyo State, on the hopes and aspirations of its people, and on the principles of justice and equality that we hold dear. Governor Makinde’s actions betray a callous disregard for the sanctity of the ballot box and a cynical determination to silence the voices of the people.

 

In this moment of trial, Aare Abisoye Fagade stands shoulder to shoulder with the resilient sons and daughters of Oyo State, united in our determination to defend our democratic heritage against those who would seek to defile it. He calls upon all patriots, regardless of political affiliation, to join him in condemning Governor Makinde’s assault on democracy and in demanding accountability for this shameful betrayal of trust.

 

Let us stand together as one, Oyo State, in defense of our democracy, in defense of our future, and in defense of the principles that bind us together as a people. For it is only by standing firm in the face of tyranny that we can ensure a brighter tomorrow for generations yet unborn.

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