Former Chairman of Bank PHB (now Keystone Bank), Prof. Pat Utomi, and the Economic and Financial Crimes Commission on Tuesday disagreed over the funding of his 2007 presidential campaign.

The EFCC, through its counsel, Mr. Kemi Pinhero(SAN), said the defunct PHB had granted a N2.7bn loan to Baywood Continental Limited, also chaired by Utomi during the period of his campaign.

Utomi was testifying during the trial of former Managing Director of the bank, Mr. Francis Atuche; his wife, Elizabeth, and a former Chief Financial Officer of the bank, Mr. Ugo Anyanwu.

The three were charged to court by the EFCC for allegedly stealing N25.7bn belonging to Bank PHB.

Source: Punch (by Comfort Oseghale)