Alleged N12.3b Fraud: Absence Of Otudeko, Onasanya, Others Stall Arraignment

Olayiwola Oshunrinade

The arraignment of the chairman of Honeywell Group, Oba Otudeko, and the former Managing Director of First Bank, Olabisi Onasanya, suffered a setback on Monday following their absence at the Federal High Court, Lagos.

In a charge marked FHC/L/20C/2025, the Economic and Financial Crimes Commission preferred 13 counts against Otudeko, Onasanya and a former board member of Honeywell, Soji Akintayo

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They were charged alongside a firm, Anchorage Leisure Ltd.

The defendants were accused of allegedly looting N12.3 billion from First Bank.

Bode Olanipekun (SAN), counsel to Oba Otudeko, told Justice Chukwuejekwu Aneke that he was appearing in protest as the charge had not been served on his client and the other defendants in the case.

Olanipekun told the court that despite not being served with the charge, the defendants were shocked to hear of the planned arraignment through the media when the story broke last week Thursday.