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Tag: Otudeko

  • Court strikes out charge against Otudeko as EFCC withdraws case

    Court strikes out charge against Otudeko as EFCC withdraws case

    Justice Chukwujekwu Aneke of the Federal High Court, Ikoyi on Wednesday struck out the N12.3 billion charge filed by the Economic and Financial Crimes Commission (EFCC) against the Chairman of Honeywell Group, Oba Otudeko, and three others.

    The charge was withdrawn following submissions by EFCC counsel, Rotimi Oyedepo, SAN, who informed the court that the matter had been amicably resolved between the nominal complainant, First Bank of Nigeria, and the first defendant, Otudeko.

    The EFCC had filed a 13-count charge (Suit No. FHC/L/20C/2025) against Otudeko, former First Bank Managing Director Olabisi Onasanya, former Honeywell board member Soji Akintayo, and Anchorage Leisure Limited.

    The prosecution alleged that the defendants conspired to fraudulently obtain N12.3 billion from First Bank by misrepresenting the funds as credit facilities requested by V-TECH Dynamic Links Ltd. and Stallion Nigeria Ltd.

    At Wednesday’s proceedings, Otudeko’s counsel, Bode Olanipekun SAN, informed the court that all issues leading to the charge had been resolved. 

    Oyedepo, for the EFCC, confirmed that both parties had settled and that the resolution was formally communicated to the Attorney General of the Federation (AGF).

    He referred to several correspondences between the parties and the AGF documenting the settlement terms. He also stated that the first defendant had fully repaid the funds at the heart of the matter.

    “In the interest of justice and to prevent abuse of the court process, the Attorney General has decided to discontinue the prosecution,” Oyedepo said.

    He further explained that after the charge was filed, the AGF received applications from the defence proposing an amicable resolution. This led to a meeting convened by the AGF with all parties.

    According to him, in a letter dated July 16, 2025, First Bank formally withdrew its complaint, confirming that the matter had been settled. On the same date, Otudeko’s counsel also wrote to the AGF affirming the settlement. A follow-up letter from First Bank on July 21 reiterated that the parties had resolved their differences and requested that the charge not be pursued.

    “Upon thorough review of the allegations, and considering that the depositor funds involved in the charge have been fully recovered and returned to First Bank’s treasury, the AGF decided—under Section 180 of the ACJA—to withdraw the charge,” Oyedepo submitted.

    All defence counsel, including Adeyinka Olumide-Fusika (SAN) for Onasanya, Tunde Afe Babalola (SAN) for Akintayo, and Dr. Charles Adeogun-Phillips (SAN) for Anchorage Leisure Ltd., confirmed that the matter had been amicably resolved.

    In a brief ruling, Justice Aneke struck out the charge.

    Honeywell Group, in a statement signed by its General Counsel, Olasumbo Abolaji, welcomed the development, describing it as a reaffirmation of Dr. Otudeko’s integrity.

    “Honeywell Group confirms that the legal proceedings initiated by the EFCC against our Chairman, Dr. Oba Otudeko, CFR, in connection with matters relating to First Holdco Plc, have been formally withdrawn.

    “This development marks the closure of a chapter that, while challenging, never diminished our confidence in Dr. Otudeko’s integrity or our belief in the principles that have guided his life and leadership.

    Read Also: Otudeko exits First Holdco in N323b deal

    “At no point was there any finding or admission of wrongdoing, and this conclusion further affirms what we have always maintained — that this was a commercial transaction, investigated by the EFCC and resolved eight years ago.

    “Dr. Otudeko’s service, enterprise, and nation-building record stand firm and unblemished. For over six decades, he has contributed significantly to Nigeria’s economic and institutional development, including distinguished tenures across banking, industry, and public service. His leadership of First Bank was marked by stability, stewardship, and strategic vision.”

    The Group reaffirmed its commitment to creating value through enterprise in food, energy, infrastructure, and financial services.

  • Court adjourns Otudeko’s case to June 11 for ongoing settlement talks

    Court adjourns Otudeko’s case to June 11 for ongoing settlement talks

    A Federal High Court sitting in Lagos has adjourned proceedings in a suit involving the Chairman of the Honeywell Group, Oba Otudeko, and others to June 11, 2025, to allow for continued settlement discussions.

    Justice Chukwujekwu Aneke postponed the matter following an update from the first defence counsel, Mr. Bode Olanipekun (SAN), who informed the court that negotiations between the parties were still ongoing.

    Olanipekun clarified that the settlement process had not collapsed and that both sides remained engaged in talks aimed at resolving the dispute amicably.

    Recall that at the last adjourned date of March 17, Chief Wole Olanipekun had informed the court that a meeting involving all counsel had been convened at the instance of the Attorney General.

    He had said that this was aimed at reaching a peaceful settlement of the case.

    On her part, the prosecutor, Mrs Bilikisu Buhari, confirmed the position to the court, but added that the case be adjourned for report of settlement or arraignment.

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

    The court has now adjourned the case until June 11, for report of settlement or arraignment.

    EFCC had preferred a 13-count charge against Otudeko and a former Managing Director of First Bank Plc, Olabisi Onasanya. Also charged is a former board member of Honeywell, Soji Akintayo, and a firm, Anchorage Leisure Ltd. The charge is marked FHC/L/20C/2025

    The case was earlier scheduled for arraignment on Jan. 20, but the defendants were absent because the EFCC had not served them with any charge.

  • 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.

  • UPDATED: EFCC, Otedola vs. Otudeko Case adjourned as parties enter settlement talks

    UPDATED: EFCC, Otedola vs. Otudeko Case adjourned as parties enter settlement talks

    The Federal High Court sitting in Ikoyi, Lagos, has adjourned the case between the Economic and Financial Crimes Commission (EFCC) and Oba Otudeko, and others. 

    The adjournment, however, allowed for settlement talks, initiated under the supervision of the office of the Attorney General of the Federation, between FBN Chairman Femi Otedola and Dr Oba Otudeko to progress. 

    The discussions began the week prior, and the judge requested an update on their progress at the next hearing on 8th May 2025. 

    This is after Justice Aneke ruled that preliminary objections about jurisdiction would be heard after the defendants take their pleas. 

    The judge then directed both parties to report on the settlement discussions at the next hearing. 

    Prior to the court appearance on 17th March 2025, all parties met with the Attorney General of the Federation, who weighed in on the case and requested that the parties enter settlement talks to resolve the issue.

    It should be recalled that this case, although firmly decided on in 2017, was revisited at the behest of the FBN under Otedola despite the fact that all parties, including the FBN and the EFCC, agreed to the terms of the resolution. 

    In a similar development on the same day, the FBN vs. Barbican Ltd case concerning the convening of an extraordinary general meeting reached the same adjournment conclusion. 

    FBN requested a further court date to allow for the settlement discussion to be concluded. 

    The presiding judge also adjourned the case until 8th May.

    There continues to be strong public interest in the case. Settlement talks between the involved parties will be critical to reaching a resolution that will not injure the bank’s legacy. 

    Given FBN’s history as not just Nigeria’s oldest bank but its pivotal role in the Nigerian banking sector, the need to protect the bank’s integrity and stability remains uppermost in the minds of the public, government, and stakeholders.

  • Alleged N12.3bn fraud: Court orders arraignment of Otudeko, others

    Alleged N12.3bn fraud: Court orders arraignment of Otudeko, others

    A Federal High Court sitting in Lagos has ordered the arraignment of former First Bank of Nigeria Plc chairman, Oba Otudeko, and its former managing director, Bisi Onasanya, over an alleged N12.3 billion fraud.

    Delivering ruling on Monday, Justice Aneke, held that it is now a settled principle of law that the plea of a defendant must first be taken before any application.

    The court relied on the authority of Onnoghen V FRN, Bello v 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 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, no preliminary objection can be taken without arraignment of the defendants.

    “This is my view ” the court held 

    Olanipekun then informed the court that parties were exploring settlement and urged the court to adjourn for report of settlement.

    Read Also: Otudeko: Court adjourns for report of settlement as A-G intervenes

    In a swift reaction, counsel for prosecution Bilkisu Buhari- Bala thanked the court for the ruling and urged it to grant an adjournment for either arraignment or report of settlement 

    Despite repeated arguments by counsel arguing that the matter should be for report of settlement, Buhari maintained her application that the case should be adjourned for either arraignment or report of settlement.

    The court has now adjourned the case to May 8, for report. 

    According to the charge, the defendant was said to have committed the offence sometime in September 2023, at Lagos Island .

    He was said to have impersonated one Amanda Glory on Instagram by holding out himself as such, in order to obtain fraudulent gains 

    The offence contravene the provisions of sections 22(2)(b) of the Cyber Crime Prohibition Act 2015 and section 18(1)(a) of the EFCC Act 2004.

  • Otudeko: Court adjourns for report of settlement as A-G intervenes

    Otudeko: Court adjourns for report of settlement as A-G intervenes

    A Federal High Court in Lagos on Monday adjourned a case against the Chairman of Honeywell Group, Oba Otudeko, and others until May 8 for a report on settlement.

    Justice Chukwujekwu Aneke granted the adjournment after the first defence counsel, Chief Wole Olanipekun, (SAN), informed the court that the parties were exploring a settlement.

    He stated that a meeting involving all counsel had been convened at the Attorney General’s instance to facilitate a peaceful resolution.

    The News Agency of Nigeria (NAN) reports that the Economic and Financial Crimes Commission (EFCC) had filed a 13-count charge against Otudeko, former First Bank Managing Director Olabisi Onasanya, former Honeywell board member Soji Akintayo, and Anchorage Leisure Ltd.

    The N12.3 billion case is marked FHC/L/20C/2025.

    The case was initially set for arraignment on Jan. 20, but the defendants were absent, claiming they had not been served with the charge.

    At the last hearing on Feb.13, defence counsel argued that the court should first hear their preliminary objections rather than proceed with the arraignment.

    Read Also: Oba Otudeko – A little about the national treasure – By JOHNSON AKESODE

    Delivering a ruling on Monday, Justice Aneke held that it was a settled legal principle that a defendant’s plea must be taken before any preliminary objection can be heard.

    The court relied on precedents, including Onnoghen v. FRN and Bello v. FRN, and ruled that arraignment must precede any objections.

    Following the ruling, Olanipekun informed the court that settlement discussions were ongoing.

    He said a meeting was held on March 12 involving all parties, including the prosecution, under the Attorney General’s supervision.

    He requested an adjournment for a report on the settlement.

    Other defence counsel, including Messrs Kehinde Ogunwumiju (SAN), Olumide Fusika, (SAN), and Charles Adeosun-Phillips (SAN), supported the request.

    They urged the court to grant an adjournment solely for a settlement report, without setting an arraignment date, to avoid prejudicing the discussions.

    Although the prosecution’s counsel, Mrs Bilikisu Buhari, suggested an adjournment for either a settlement report or arraignment, the defence insisted on allowing settlement efforts to proceed uninterrupted.

    The court granted the defence ’s request and adjourned the case until May 8 for a report on the settlement.

    (NAN)

  • Alleged N6b fraud: Otudeko fails to appear in court

    Alleged N6b fraud: Otudeko fails to appear in court

    • Lawyers refuse undertaking to produce him •March 17 fixed for ruling on jurisdiction

    Chairman of Honeywell Group, Oba Otudeko, yesterday failed to appear before the Federal High Court in Lagos for arraignment in the N6 billion fraud case against him and others.

    The others are former First Bank Group Managing Director Bisi Onasanya; ex-board member of Honeywell Flour Mills Plc, Soji Akintayo and Anchorage Leisures Limited.

    The prosecution’s legal team was led by Rotimi Oyedepo (SAN).

    Babajide Koku (SAN) and Buchi Ofulue held watching briefs for First Bank as the complainant.

    The defendants were represented by Chief Wole Olanipekun (SAN) and Bode Olanipekun (SAN) for Otudeko; Olumide Fusika (SAN) and Supo Shasore (SAN) for Onasanya and Kehinde Ogunwumiju (SAN) for Akintayo.

    Otudeko’s lawyers urged Justice Chukwujekwu Aneke to hear their preliminary objection challenging the court’s jurisdiction.

    It is on the ground that the allegations against Otudeko related to a loan facility, boardroom politics and schemes by other shareholders to wrestle control of the bank.

    They argued that the charge was deeply rooted in malice, adding that the proof of evidence discloses no prima facie case against Otudeko and the other defendants.

    Economic and Financial Crimes Commission (EFCC) lawyer Oyedepo opposed Olanipekun’s application.

    Relying on the Court of Appeal decision in the case of Yahaya Bello, he urged the court not to take any application by the defendants challenging jurisdiction until they appeared in court for arraignment and their plea taken.

    Debunking the defendants’ claim, Oyedepo referred the court to the charges.

    Read Also: Dr. Oba Otudeko and the Consequences of System Manipulation

    He added that the facts and circumstances of the case revealed that the depositors’ funds in First Bank were fraudulently converted to the use of the defendants.

    Oyedepo submitted that the court had the power and requisite jurisdiction to hear and determine each of the counts contained in the criminal charge.

    He argued: “The current charge was filed in accordance with the provisions of the Administration of Criminal Justice Act, 2015.  

    “The ACJA did not impose on the prosecution additional obligation of filing affidavit completion of investigation before filing a criminal charge.”

    He insisted that the charge stemmed from a detailed investigation, revealing that the first and second defendants colluded to defraud First Bank.

    From the charge and supporting documentation, the prosecution’s case is that the allegations against the defendants neither arose from nor are founded on a civil/contractual relationship between First Bank and V- Tech Dynamic Links Limited.

    EFCC said the charge rather emanated from a detailed investigation that revealed the meeting of the minds of Otudeko and Onasanya to use their positions as principal officers of First Bank to defraud the bank in conjunction with the other defendants.

    According to Oyedepo, Otudeko, Onasanya and their subordinates fraudulently transferred about N6,000,000,000 on November 26, 2013, to an account surreptitiously opened in the name of V-Tech Dynamic Links Limited.

    Otuteko as Chairman and Onasanya as Managing Director of the First Bank, caused the said sum to be transferred to Anchorage’s account, EFCC said.

    At the close of oral submissions, the court adjourned the matter to March 17, 2025, to decide whether or not Otudeko must appear in court for arraignment before his application challenging jurisdiction can be heard.

    Oyedepo then applied for an order against Otudeko to make himself available in court on March 17.

    He prayed that Olanipekun should undertake to produce him on that day as the other counsel in the case had done for the other defendants.

    Olanipekun declined to undertake to produce Otudeko, citing his (Otudeko’s) ill health as the excuse for not being in a position to give such an undertaking.

    It was noted that the purported medical examination that Otudeko is currently undergoing had his last doctor visit on February 14.

    Justice Aneke responded that March 17 is enough time for Otudeko to make himself available in court.

  • Dr. Oba Otudeko and the Consequences of System Manipulation

    Dr. Oba Otudeko and the Consequences of System Manipulation

    The transformation of public opinion from a tool of democratic oversight into a weapon of systematic destruction represents a critical inflection point in our societal discourse. In this new landscape, carefully orchestrated narratives supplant empirical evidence, while strategic media manipulation replaces impartial investigation. The consequences are far-reaching: Reputations built over decades can crumble within hours, and truth becomes subordinate to the loudest voice in the room.

    As a result, we’re witnessing an unprecedented erosion of public trust, which strikes at the heart of societal integrity. While the court of public opinion has historically served as democracy’s informal checks-and-balances system, its manipulation by strategic actors now threatens to undermine the foundations of justice and accountability.

    The Architecture of Opinion Engineering

    Recent events surrounding Chief Oba Otudeko, Chairman of the Honeywell Group, illustrate this phenomenon. The 81-year-old grew up in Odogbolu, Ogun State, and became a chartered banker, chartered accountant, and chartered corporate secretary. He is the holder of the Nigerian National Honour of Commander of the Order of the Federal Republic (CFR), a consummate entrepreneur, and chairman of several boards globally.

    Yet today, this illustrious career faces the harsh spotlight of public scrutiny, where decades of achievement risk being overshadowed by the capricious winds of media narrative and public opinion. It serves as a poignant reminder that even titans of industry must navigate the complex waters of modern corporate governance and public perception. In his desire for peace, maybe fear, or confused by the buffet of media punches and Twitter pugilism, the prominent businessman has had to remonstrate with the public, and whoever intends to consume the spoils from the current warfare, that he has no desire to regain positions he has already left. Most people in the Nigerian financial industry have taken this to mean First Bank.

    But how did we get here? The Economic and Financial Crimes Commission (EFCC) recently filed a 13-count charge against Oba Otudeko and others, alleging financial misconduct. These claims, including the case number, were fully revealed through a wide broadcast. Suddenly, a man recognised as a frontrunner in conversations about Nigeria’s economic development, fostering growth and innovation for decades, became a victim of snickers across office desks and social media controversy.

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    His current plight is emblematic of a broader issue: the weaponisation of public systems for personal gain. This erosion threatens to deter genuine contributors from engaging with public life, creating a vacuum where only the unscrupulous thrive. Public systems—the judiciary, media, and institutions of governance—are designed to ensure fairness and accountability. When these systems are co-opted or circumvented, society as a whole suffers. The unchecked rise of bad-faith actors undermines trust, weakens institutions, and perpetuates a culture of impunity.

    Otudeko’s response has been resolute. He categorically denies involvement in misconduct during his tenure at FBN Holdings or First Bank and has emphasised his commitment to defending his reputation through appropriate legal channels. But allegations alone, whether substantiated or not, can irreparably damage reputations, careers, and lives. For Otudeko, whose contributions to Nigeria’s economic landscape span over five decades, this saga is more than a personal affront; it is an indictment of a broken system, a stark reminder of the injustices that can befall even the most respected individuals.

    In the public sphere, arguments abound, and several issues have been raised. Records show that these accusations concern a commercial transaction at First Bank that occurred over 12 years ago, a matter previously investigated by the EFCC and resolved eight years ago. While Dr. Otudeko had already expressed profound disappointment that these allegations were deliberately made public before he was properly notified, the smear campaign has resurfaced at a curious time, especially as a recent BusinessDay report stated that some FBN Holdings shareholders were seeking to stop a proposed private placement. Some shareholders have also called for an Extraordinary General Meeting [EGM], which has not been approved.

    The Mechanics of Manipulation

    The court of public opinion operates with its own rules—ones often divorced from principles of fairness or truth. Emotional narratives take precedence over evidence, and perception quickly solidifies into reality. Social psychologists describe this as the “availability heuristic,” where the repetition of accusations, irrespective of their merit, shapes public belief.

    In Otudeko’s case, the media’s role in amplifying these allegations cannot be ignored. Aggressors manipulate public sentiment to tip the scales in their favour by leveraging strategic leaks and sensationalism. This approach erodes the integrity of public discourse and undermines the judicial process, replacing deliberation with mob justice.

    For decades, Chief Oba Otudeko has been a pillar of Nigeria’s economic development, fostering growth and innovation across sectors. His current plight is emblematic of a broader issue: the weaponisation of public systems for personal gain. This erosion threatens to deter genuine contributors from engaging with public life, creating a vacuum where only the unscrupulous thrive.

    Restoring integrity to the court of public opinion requires bold measures. Stakeholders must commit to protecting public systems and ensuring impartiality. This is not merely an ethical imperative but essential for preserving societal trust and fostering progress. A society that tolerates the erosion of fairness and accountability risks losing its moral and institutional foundations. Only through collective vigilance and commitment to justice can we safeguard these systems, ensuring they serve their true purpose: the equitable pursuit of truth and progress. We have a role in this collective effort, and our actions can make a difference.

  • Oba Otudeko: Targeted negative campaign must stop

    Oba Otudeko: Targeted negative campaign must stop

    By Olasumbo Abolaji

    Dr. Oba Otudeko, CFR notes the furor of false allegations that have been deliberately made public, which are hereby strongly refuted.

    At a Federal High Court sitting in Ikoyi, Lagos, on January 20, 2025, it was confirmed that Dr. Oba Otudeko, CFR had not been formally notified of any filings (which relate to a transaction that took place at First Bank over 12 years ago). Dr. Otudeko expresses disappointment that these false allegations were deliberately made public, leading to an unfortunate media trial prior to being properly notified. He looks forward to addressing this matter comprehensively and appropriately in due course.

    It is surprising that a commercial transaction, which was investigated by the EFCC and resolved eight years ago has resurfaced in 2025. As the matter is before the court, we are restricted in commenting further. We however reiterate his innocence and will vigorously defend these allegations. 

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    We note the curious timing of this attack and the targeted negative campaign that has followed. This coordinated action appears to be an attempt to distract from critical issues at hand: our expressed concern alongside other shareholders, regarding governance at FBN Holdings Plc. and the misguided initiation of a private placement by the Board prior to the conclusion of a successful rights offering—a decision that seeks to disenfranchise over 1.2 million shareholders of FBN Holdings.

    Dr Otudeko has devoted 60 years of his professional career to Nigeria, a country he loves, creating jobs, driving investments, and positively impacting countless lives and remains passionate about the nation. His unblemished record of integrity and service stands firm against these false allegations, and he will steadfastly defend his reputation.

    Olasumbo Abolaji is General Counsel, Honeywell Group

  • Court denies EFCC’s request for arrest warrant against Otudeko, others

    Court denies EFCC’s request for arrest warrant against Otudeko, others

    …I’ll defend my reputation – Otudeko

    Justice Chukwujekwu Aneke, sitting at the Federal High Court in Ikoyi, Lagos, denied a request by the EFCC to issue an arrest warrant for Dr. Oba Otudeko, Dr. Bisi Onasanya, and others due to a lack of formal service on the defendants.

    The court addressed multiple motions during the session, including the prosecutor’s request for a warrant of arrest, which the judge rejected due to the lack of formal service to the defendants and granted an application for substituted service.

    A 13-count charge preferred by the Economic and Financial Crimes Commission (EFCC) against Otudeko and a former Managing Director of First Bank Plc, Olabisi Onasanya, is yet to be served on them by the EFCC.

    Also to be arraigned is a former board member of Honeywell, Soji Akintayo, and a firm, Anchorage Leisure Ltd. In the charge marked FHC/L/20c/2025, the defendants were accused of allegedly obtaining N12.3 billion from First Bank under pretence.

    When the case was called on Monday, Counsel to Otudeko, Mr. Bode Olanipekun (SAN), informed the court that he was appearing in protest in the case, as the charge had not been served on his client.

    Justice Chukwujekwu Aneke then raised a question as to the appearance of all defence counsel in court if they claim the defendants had not been served.

    In response, Olanipekun sought an order restraining parties from irresponsible use of the media, stating that on January 17, the media was agog with screaming headlines, indicating that the defendants were to be arraigned on Monday.

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    He showed the court several national dailies with the report and read out portions of the report, showing that the defendants were to appear before Justice Aneke.

    He described such conduct as being most unfair, especially as no charge was served on his client.

    In response, the judge advised all parties to exercise restraint in media engagement and urged journalists present to ensure accurate reporting of court proceedings.

    Mr. Olumide Fusika (SAN), who announced the appearance for the second defendant, informed the court that he had a copy of the charge, though not served, but he printed it.

    Mr. Kehinde Ogunwumiju (SAN) appeared for the third defendant, while Mr. Adeogun Philips (SAN) announced an appearance for the fourth defendant in protest.

    Philips also informed the court that his appearance was in protest as his client was never served with any charge.

    Justice Chukwujekwu Aneke then raised a question as to the appearance of all defence counsel in court if they claim the defendants had not been served.

    Responding, the prosecutor, Mr. Rotimi Oyedepo (SAN), told the court that efforts were made severally to effect service on the defendants without success.

    Following a directive by the court to issue service on the second defence counsel who had indicated willingness to accept the same, the prosecutor handed Fusika a copy of the charge in court.

    The court consequently adjourned the case until February 13 for the arraignment of the defendants.

    Dr. Otudeko has denied allegations levelled against him by the EFCC, which centre 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, while 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.”