There was mild drama at the Federal High Court in Lagos on Monday when counsel to Oba Otudeko, Bode Olanipekun (SAN), protested against a request by the Economic and Financial Crimes Commission (EFCC) for a warrant of arrest.
The EFCC had brought Otudeko and three others before the court over an allegation of false pretense in obtaining a loan amounting to N12 billion from First Bank of Nigeria (FBN), seeking a warrant of arrest.
However, Justice Chukwujekwu Aneke, presiding over the case, denied the EFCC’s request to issue an arrest warrant for Otudeko.
This is after counsel to Otudeko, Bode Olanipekun (SAN), protested in court, stating that the charge had not been served on Mr. Otudeko and others charged along with him.
During the session, the court addressed multiple motions, including the prosecutor’s request for a warrant of arrest, which the judge rejected due to the lack of formal service to the defendants. The judge granted an application for substituted service, and the case has been adjourned to February 13 for arraignment.
EFCC’s allegation
The EFCC alleges that Otudeko and the other defendants obtained a loan amounting to N12.3 billion from First Bank of Nigeria (FBN) under the guise of obtaining funds for various firms.
Announcing the adjournment date on its X handle, the EFCC stated, “Alleged N12.3bn Fraud: Court Fixes February 13, 2025, for Arraignment of Oba Otudeko, Three Others. Details later.”
The 13-count charge was preferred by the EFCC against Otudeko, a former chairman of First Bank, Olabisi Onasanya, a former group managing director of FBN; Soji Akintayo, a former board member of Honeywell; and Anchorage Limited, a company associated with Otudeko.
What you should know
- Dr. Otudeko has categorically denied the allegations leveled against him by the EFCC, which center around his involvement with First Bank of Nigeria, where he served as a non-executive director and left about four years ago.
- In a release, Dr. Otudeko stated he is confident that the truth will prevail in due course and looks forward to addressing these claims in the appropriate forum.
- Dr. Onasanya, stating that he has no interest in the control dispute at First Bank, also asserted about his record at First Bank that “his stellar reputation of integrity, built over four decades of impeccable professional service, cannot and will not be tarnished by these false allegations and incorrect charges.”
Last weekend, there were reports that Otudeko had fled Nigeria via a land border, but his family later denied the report, saying Otudeko had travelled for medical reasons.
