The much anticipated arraignment of Honeywell Group Chairman, Chief Oba Otudeko, and former First Bank Managing Director, Stephen Olabisi Onasanya was stalled today, as their lawyers announced appearance in protest claiming that their clients have not been served with the charges as required by the Constitution.
The Economic and Financial Crimes Commission (EFCC) has filed a 13-count charge against Otudeko, former First Bank Plc Managing Director Olabisi Onasanya, former Honeywell board member Soji Akintayo, and the company Anchorage Leisure Limited.
The EFCC in a charge marked FHC/L/20C/2025, accused Otudeko, Onasanya, Akintayo and Anchorage Leisure Limited of allegedly obtaining N12.3 billion from First Bank under false pretenses.
At the hearing of the matter today, Mr. Bode Olanipekun (SAN), representing Otudeko, informed the court that he was appearing “in protest” because his client had not been served the charge.
Similarly, Mr. Olumide Fusika (SAN) announced his appearance for Onasanya, stating that his client was not served but that he was able to print a copy of the charge.
Mr. Kehinde Ogunwumiju (SAN) appeared for Akintayo, while Mr. Charles Adeogun-Philips (SAN) represented Anchorage Leisure Limited also protested and confirming that his client had not been served.
Consequently, Justice Chukwujekwu Aneke questioned how all defence counsel could appear in court if the defendants had not been served.
Olanipekun (SAN) then pointed out that, despite the media’s reporting on January 17 about the defendants’ impending arraignment, no charge had been formally served on his client.
He presented some national newspapers clippings to support this claim.
Responding, EFCC prosecutor Mr. Rotimi Oyedepo (SAN) explained that multiple efforts had been made to serve the defendants at their last known addresses without success.
He sought permission from the court for substituted service at these addresses, which was granted.
The second defense counsel, Fusika (SAN), then offered to accept service on behalf of his client, which the court approved. The prosecutor handed Fusika a copy of the charge in court.
The matter has been adjourned till February 13 for the defendants’ arraignment.
The EFCC alleges that the defendants orchestrated fraudulent transactions totaling N12.3 billion in 2013 and 2014 in various amounts, and used forged documents to deceive the bank.
The charges include conspiracy to defraud First Bank, obtaining loans under false pretenses, and money laundering activities involving the diversion and conversion of bank funds for personal use.
They are also accused of forging documents to mislead the bank into believing false credit facilities had been requested by companies like V-Tech Dynamic Links Limited and Stallion Nigeria Limited.
The alleged acts according to the EFCC contravened several provisions of Nigerian law, including the Advance Fee Fraud and Other Fraud-Related Offences Act 2006, the Money Laundering (Prohibition) Act, 2011 and the Miscellaneous Offences Act.
