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Alleged N12.3bln fraud: Otudeko, others’ arraignment stalled, court adjourns until Feb. 13

Economic and Financial Crimes Commission(EFCC)

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Justice Chukwujekwu Aneke of the Federal High Court in Lagos has adjourned the arraignment of the Chairman of the Honeywell Group, Oba Otudeko, and others, who are facing N12.3 billion fraud charges, following their absence in court.

The defence counsel objected to the charge when the case was called on Monday, claiming that the defendants had not been properly served.

Persecondnews recalls that the Economic and Financial Crimes Commission(EFCC) had, on January 16, filed a 13-count charge against Otudeko and a former Managing Director of First Bank Plc, Olabisi Onasanya.

Otudeko was charged alongside Soji Akintayo, a former board member of Honeywell, and Anchorage Leisure Ltd., a corporate entity.

The EFCC, in the charge marked FHC/L/20C/2025, alleged that the defendants obtained N12.3 billion from First Bank under false pretenses.

It alleged that the defendants committed the offence by transferring funds in multiple tranches, totaling N5.2bn, N6.2bn, N6.1bn, N1.5bn, and N500m, between 2013 and 2014 in Lagos.

According to the commission, the defendants allegedly created and submitted forged documents to deceive the bank and facilitate the fraudulent transactions.

It said the offences contravened Section 8(a) of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006, as well as Sections 15(2), 15(3), and 18(c) of the Money Laundering (Prohibition) Act, 2011.

They also contravened Section 3(6) of the Miscellaneous Offences Act, Cap M17, Laws of the Federation, 2004.

Mr. Bode Olanipekun (SAN), representing Otudeko, told the court that he was appearing in protest as the charge had not been served on him.

Also, Mr. Adeyinka Olumide-Fusika (SAN), representing the second defendant, notified the court that he had obtained a personal copy of the charge, which he had procured on his own.

In the same vein, two other counsel, Mr. Kehinde Ogunwumiju (SAN) for the third defendant, and Dr. Charles Adeogun-Philips (SAN) for the fourth defendant, said the defendants had not been served.

Justice Aneke queried the defence counsel’s presence in court, given their claim that the defendants had not received proper service.

In response to the court’s inquiry, Olanipekun pointed out that various media outlets had extensively reported the defendants’ scheduled arraignment on January 17, 2025, with many headlines explicitly stating their required court appearance.

To support his claim, Olanipekun submitted copies of the news reports to the court.

Olanipekun deemed the situation unjust, emphasizing that despite the widespread media coverage, the defendants had yet to receive formal notification of the charges through official service.

In his defence, EFCC prosecutor Rotimi Oyedepo (SAN) told the court that despite multiple attempts, the defendants still hadn’t been successfully served.

Oyedepo revealed that the last known addresses of the defendants were: Otudeko’s at No. 6b Mekunwen Street, Ikoyi, and the second defendant’s at No. 21, Ribadu Road, Ikoyi.

He further stated that the prosecution had filed a motion for substituted service at the defendants’ last known addresses, which the court subsequently granted after the motion was presented.

Olumide-Fusika voluntarily accepted service of the charge on behalf of his client, despite having already obtained a copy independently.

Pursuant to the court’s directive, the prosecutor formally handed Olumide-Fusika the charge in open court and he voluntarily accepted service of the charge on behalf of the defendant, despite having already obtained a copy independently.

Consequently, the court adjourned the case until February 13, 2025, to facilitate the arraignment of the defendants.

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