Oba Otudeko, Chairman of Honeywell Group, appeared in the Federal High Court in Lagos on Monday to challenge charges of N12.3 billion fraud.

Biztellers reports that the Economic and Financial Crimes Commission (EFCC) had filed a 13-count indictment against Otudeko, along with Olabisi Onasanya, former Managing Director of FirstBank Plc., Soji Akintayo, a former board member of Honeywell, and Anchorage Leisure Ltd.

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During the proceedings, the defendants’ lawyer, Mr. Bode Olanipekun (SAN), raised an objection, stating that the charge had not been properly served to Otudeko or his co-defendants.

Olanipekun emphasized this issue as a reason for protest in court.

The EFCC has accused the individuals and the company of fraudulently obtaining N12.3 billion under false pretenses.

More to follow……….. 

Osun State Governor, Senator Ademola Adeleke has commended the personnel of the Department of State Services (DSS), on the successful operation, that led to the arrest of 10 suspected members of Boko Haram/Islamic State’s West Africa Province (ISWAP) in Ilesa, Osun State.

Gov Adeleke expressed his feelings in a statement on micro-blogging site, X, on Saturday.

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According to the statement, Gov Adeleke hailed the alertness of security operatives, to eliminate the threats posed by the suspected terrorists, which gives further assurance that our security agencies are up to the task of sustaining peace and security of every part of Nigeria.

He particularly commended the intelligence gathering of the personnel of the State Service, who have painstakingly monitor the activities of the suspected criminals and moved swiftly to cut off their dastardly act.

“This is a welcome development and a big relief, not just for us as a government but to the people of the state and Nigeria in general. I commend the security operatives for their alertness and intelligence driven operation. We have absolute confidence in our security forces to keep protecting us”, Gov Adeleke declared.

He assured that his administration will continue to cooperate with security agencies and support their operations to ensure maximum protection of lives and property of Osun people, noting that this remains top of his priority.

“As the Chief Security Officer of Osun State, I will continue to give priority to issues of security of my people. I will continue to support efforts of security agencies to guard against any breakdown of law and order in any part of Osun. We will sustain the good relationship and collaboration that currently exists between our administration and the security agencies in the state” the Governor noted.

Gov Adeleke enjoined residents of Osun to continue to be watchful, and report any suspicious activity in their neighborhoods to relevant security agency, while assuring that Osun will continue to be a peaceful state under his watch.

“I hereby call on my people to continue to live in peace and harmony and be at alert to report any suspicious activities or behavior around them to the relevant security authorities. Together, we will ensure that Osun remains the most peaceful state in Nigeria” he concluded.

Former First Bank Chairman, Oba Otudeko, has reportedly fled Nigeria just days before his scheduled court appearance on Monday, January 20, 2025.

The 81-year-old businessman is facing fraud charges involving the alleged embezzlement of N12.3 billion alongside three others.

According to reports, Otudeko left the country on Thursday evening via one of Nigeria’s land borders.

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Security sources revealed that he was dropped off at the Nigeria-Benin border by a family member.

Efforts to contact him have been unsuccessful, as his phone number is switched off.

While messages sent to his WhatsApp were delivered, they remain unanswered.

His son, Obafemi Otudeko, also declined to comment when reached by journalists.

The charges against Otudeko stem from a case filed by the Economic and Financial Crimes Commission (EFCC) at the Federal High Court in Lagos.

Otudeko, alongside former First Bank Managing Director Stephen Olabisi Onasanya, a former Honeywell board member Soji Akintayo, and a firm connected to Otudeko, Anchorage Leisure Limited, is accused of conspiring to defraud First Bank between 2013 and 2014.

The EFCC had alleged that the defendants fraudulently obtained funds in multiple tranches, including N5.2 billion, N6.2 billion, N6.15 billion, N1.5 billion, and N500 million.

The 13-count charge, filed by EFCC counsel Bilikisu Buhari on January 16, 2025, also accuses the group of forgery to deceive the bank.

One of the charges reads: “You conspired to obtain the sum of N12.3 billion from First Bank Limited on the pretence that the said sum represented credit facilities applied for by V-TECH DYNAMIC LINKS LIMITED and Stallion Nigeria Limited, which representation you know to be false.”

Another charge states: “On or about November 26, 2013, in Lagos, you obtained the sum of N5.2 billion from First Bank Limited on the pretence that the said sum represented credit facilities applied for by V-TECH DYNAMIC LINKS LIMITED, which representation you know to be false.”

The Federal High Court, presided over by Justice Chukwujekwu Aneke, is set to hear the case, registered as FHC/L/20C/2025, on Monday.

However, Otudeko’s reported flight from the country raises questions about whether he will appear in court.

Attempts by journalists to reach EFCC spokesperson Dele Oyewale for comments were unsuccessful, as calls to his phone line on Friday were unanswered, with a “switched off” notification.