Jitters in Hubmart as Francis Atuche bags 12-years jail term

There are whispers and jitters in Hubmart, a vast chain of shopping retail after Francis Atuche bagged a 12-year jail term.

Unknown to many, the fast-growing shopping retail brand, was created and founded by Atuche after he was shown the door – all thanks to the 56 billion scandal episode that was disgraceful and seemed to stain his repute – out of BankPHB (now Keystone Bank).

ALSO READ: Bank PHB ex-MD Francis Atuche gets 6-years sentence for fraud

According to insiders, Hubmart – growing shopping retail that offers different options to sustain A-Grade clients and customers, with choice locations and choice product variety – was what Atuche sank his entire proficiency into after his exit from the banking world. 

Anthony and Francis Atuche
Anthony and Francis Atuche

The retail chain is currently being run by acting MD/CEO, Anthony Atuche, son of Francis Atuche.

Hubmart, a venture, which is established in the city of Lagos, with practical strategies in place to widen its scope to include the best spots in all the major cities of Nigeria, might lose its ownership following the N25.7 billion that has consumed the man behind the dream.

Hubmart, unknown to many, started with Atuche making a snap decision and making the most of available resources by buying off a multi-storeyed complex on Adeola Odeku Street, Victoria Island, Lagos. 

The particular complex, which originally belonged to former military Head of State, Ibrahim Badamosi Babangida (alias IBB), remains the headquarters of the retail shopping mart.

Atuche’s Hubmart stores currently operate flourishing branches in Lekki, Omole, and GRA, Ikeja.


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