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Tag: Onasanya

  • Alleged N12.3b fraud: Court orders arraignment of Otudeko, Onasanya

    Alleged N12.3b fraud: Court orders arraignment of Otudeko, Onasanya

    The Federal High Court in Lagos yesterday ordered that the former chairman of First Bank, Oba Otudeko, and its ex-managing director, Bisi Onasanya, be arraigned on alleged N12.3billion fraud.

    Justice Aneke held that the plea of a defendant must first be taken before any application.

    The court relied on the authority of Onnoghen vs FRN, Bello vs FRN, among others, and held that an arraignment must be taken before any preliminary objection.

    “The issue before the court is whether the processes before the court can be taken before the arraignment of the defendants.

    “Any preliminary objection to the validity of a charge can only be heard after the plea is taken; this is now a condition precedent and this court is bound by the decision.

    “I agree with learned counsel for the prosecution that no preliminary objection can be taken without arraignment of the defendants. This is my view,” the court held

    Olanipekun informed the court that the parties were exploring a settlement.

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    Prosecuting counsel, Bilkisu Buhari-Bala, urged it to grant an adjournment for either arraignment or report of settlement.

    The court adjourned till May 8.

    According to the EFCC, the defendants committed the offence in tranches of N5.2 billion, N6.2 billion, N6.1 billion, N1.5 billion and N500 million, between 2013 and 2014 in Lagos.

    The anti-graft agency alleged that the defendants made and uttered forged documents to deceive the bank.

    The alleged offences contravene Section 8(a) of the Advance Fee Fraud 2006 and sections 15 (2), 15(3), and 18(c) of the Money Laundering (Prohibition) Act, 2011.

  • Loan controversy: Onasanya appears in court to clear name

    Loan controversy: Onasanya appears in court to clear name

    In a determined effort to prove his innocence and clear his name, Dr Bisi Onasanya, a former group managing director (GMD) of First Bank, yesterday appeared before Justice Chukwujekwu Aneke of the Federal High Court in Lagos.

     Onasanya, alongside erstwhile  First Bank Chairman Oba Otudeko; a Director at Honeywell Group, Soji Akintayo, and a firm, Anchorage Leisure Limited, is refuting allegations of fraud related to a commercial loan transaction at First Bank during his time as GMD.

     Onasanya’s appearance aligns with the commitment made by his lawyer, Adeyinka Olumide-Fusika (SAN) when the matter first came up in court on January 20, 2025.

     Another counsel for Onasanya, Olasupo Shashore (SAN), argued that although the former bank chief  was determined to defend his innocence, he aligned with the argument of Otudeko’s lawyers that the court should first hear the preliminary application challenging its jurisdiction before proceeding with the case.

    Chief Wole Olanipekun (SAN),   lead counsel for Otudeko, the first defendant told the court that the case was civil because it concerns a bank-customer relationship and therefore should not be treated as a criminal matter. 

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    Ade Adedeji (SAN), counsel for the fourth defendant, Anchorage Leisure Limited, supported  Olanipekun. He argued that the Economic and Financial Crimes Commission (EFCC) seemed determined to harass and intimidate his clients, despite the loan being fully repaid since 2017 with all parties agreeing to close the matter.

    Adedeji said: “We filed a preliminary objection, but the EFCC has yet to reply. The loan, which is the subject of prosecution, has long been repaid since 2017 when the EFCC initially waded into the matter. There is clear evidence of repayment available. The continued pursuit of this case by the EFCC amounts to nothing but witch-hunting, intimidation, and harassment of the defendants. It is baffling why a matter that was resolved many years ago is suddenly being resurrected.”

    He said an application dated February 10, 2025, had been made, requesting the court to quash or decline jurisdiction over counts 1 to 10, alleging abuse of judicial process and a lack of prima facie evidence.

    But EFCC Prosecutor Rotimi Oyedepo (SAN) countered, stating that the allegations in the 13-count charge stemmed from a detailed investigation.

    Following arguments from both parties, Justice Aneke adjourned the case to March 17, 2025, for ruling on the matter of jurisdiction.

    Olumide-Fusika, counsel for  Onasanya, urged the court to allow his client to return home and appear in court on the next adjourned date.

    He stated that Onasanya had complied with the earlier assurance by presenting himself before the court as a mark of respect for the judicial process.

    Justice  Aneke granted the request, permitting Onasanya to go home and return for the next hearing on the adjourned date.

      Olumide-Fusika had at the first sitting, condemned how the case was being handled. He  accused the EFCC of subjecting his client to a ‘media trial.’

      Soji Akintayo, the third defendant, also appeared in court while   Oba Otudeko did not appear on health grounds.