Court strikes out N12.3bn fraud case against Otudeko after EFCC settlement - Newstrends
Connect with us

metro

Court strikes out N12.3bn fraud case against Otudeko after EFCC settlement

Published

on

Chairman of the Honeywell Group, Oba Otudeko

Court strikes out N12.3bn fraud case against Otudeko after EFCC settlement

The Federal High Court in Lagos has dismissed the Economic and Financial Crimes Commission’s N12.3 billion fraud charge against Honeywell Group Chairman Dr Oba Otudeko and three others after the anti-graft agency formally withdrew the case on Wednesday.

The EFCC had charged Otudeko, former First Bank Managing Director Olabisi Onasanya, former Honeywell board member Soji Akintayo, and Anchorage Leisure Limited with 13 counts (Suit No. FHC/L/20C/2025).

The defendants were accused of conspiring to fraudulently obtain N12.3 billion from First Bank of Nigeria in the name of credit facilities for V-TECH Dynamic Links Ltd. and Stallion Nigeria Ltd.

At Wednesday’s sessions, EFCC counsel Rotimi Oyedepo informed Justice Chukwujekwu Aneke that First Bank and the first defendant, Otudeko, had reached an amicable settlement.

Oyedepo said, “The parties have reached a full and final settlement.

“First Bank, the nominal complainant, has formally withdrawn its complaint. The funds at the heart of the matter have been fully repaid, and there is no further interest in pursuing the charge.

“In the interest of justice and to prevent abuse of the court process, the Attorney General of the Federation, having reviewed the facts and the full recovery of the disputed funds, decided to discontinue the prosecution.”

According to Oyedepo, after the defence filed petitions for settlement, the AGF called a meeting with all stakeholders.

This resulted in a formal conclusion communicated through a letter from First Bank dated July 16, 2025, and another from Otudeko’s counsel confirming the settlement.

READ ALSO:

He added that a follow-up letter, dated July 21, 2025, restated the bank’s position and requested that the charge be dropped.

Bode Olanipekun, Otudeko’s counsel, told the court that “all issues leading to the institution of this charge have been completely resolved.”

Other defence lawyers, Adeyinka Olumide-Fusika, SAN (for Onasanya), Tunde Afe Babalola (for Akintayo), and Dr Charles Adeogun-Phillips (for Anchorage Leisure Ltd.), confirmed the amicable agreement.

After hearing the arguments, Justice Aneke declared, “In view of the application by the prosecution and the confirmation by the defence, this case is hereby struck out.”

In a statement issued following the court’s verdict, its General Counsel, Olasumbo Abolaji, hailed the development, calling it a reaffirmation of Dr Otudeko’s integrity.

Abolaji said, “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.

“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 company reaffirmed its dedication to producing value through business in food, energy, infrastructure, and financial services.

“As we move forward, we do so strengthened by experience, focused on the future, and anchored in the enduring values that have always shaped our journey,” the statement added.

Court strikes out N12.3bn fraud case against Otudeko after EFCC settlement

Loading

metro

Missing Robbery Suspect: Anambra CP Queries DPO, Orders Probe

Published

on

Missing Robbery Suspect: Anambra CP Queries DPO, Orders Probe
Anambra State Commissioner of Police, CP Nnanna Oji Ama

Missing Robbery Suspect: Anambra CP Queries DPO, Orders Probe

The Anambra State Commissioner of Police, CP Nnanna Oji Ama, has ordered queries for the Divisional Police Officer (DPO) of 3-3 Police Station, Onitsha, and a Deputy Superintendent of Police (DSP) following allegations that an armed robbery suspect arrested and taken to the station could no longer be accounted for.

The commissioner also directed the immediate commencement of disciplinary proceedings against an Inspector of Police linked to the matter.

The action followed the circulation of a viral video alleging that the suspect, who had reportedly been arrested and brought to the police station, subsequently disappeared from custody.

Ama personally interviewed the complainant and officers connected to the incident before issuing the directives.

The commissioner described the allegation as serious, stressing that conduct capable of undermining public confidence in the Nigeria Police Force would not be tolerated.

He said the command would take firm action against unprofessional conduct, dereliction of duty, abuse of office and violations of established police procedures.

READ ALSO:

Following the interviews, Ama ordered the command’s X-Squad to conduct a comprehensive investigation into the circumstances surrounding the suspect’s arrest, detention and documentation, as well as what happened after the suspect was taken into custody.

The investigation will also establish the roles played by the officers involved and determine whether any police personnel breached established procedures.

The commissioner further said operational measures had been put in place to facilitate the rearrest of the suspect, although the police have not publicly disclosed his current whereabouts.

Ama assured the public that the findings of the investigation would be communicated once the facts had been established.

He also warned against the circulation of unverified information that could prejudice the investigation, stressing the need for the matter to be handled based on established facts.

The commissioner reiterated his commitment to police accountability and professional conduct, saying officers entrusted with protecting members of the public must also be subject to scrutiny when allegations of misconduct arise.

The development has drawn attention to the procedures governing the arrest, detention and documentation of suspects in police custody, particularly the responsibility of officers to maintain accurate records and ensure that detainees remain properly accounted for.

For now, the exact circumstances surrounding the suspect’s alleged disappearance remain unclear. The ongoing X-Squad investigation is expected to determine how the suspect allegedly went missing and whether any police officer bears responsibility.

Missing Robbery Suspect: Anambra CP Queries DPO, Orders Probe

Loading

Continue Reading

metro

Four NAF Engineers Died Days Before Foreign Course Deployment — Sources

Published

on

Four NAF Engineers Died Days Before Foreign Course Deployment — Sources

Four NAF Engineers Died Days Before Foreign Course Deployment — Sources

Four Nigerian Air Force (NAF) engineers killed in the Ondo aircraft crash had reportedly travelled to Abuja for documentation ahead of specialised foreign training courses.

The personnel were identified as Master Warrant Officer Matini BA, Flight Sergeant Mohammed AI, Sergeant Izibenikien SI and Sergeant Alafuka C.

According to information surrounding the tragedy, the four engineers had travelled to Abuja as part of preparations for their deployment abroad for professional courses. Their deaths came just days before they were expected to begin the specialised training.

The four were among the 25 people on board the NAF 931 ATR-42 aircraft that crashed in the Igbokoda area of Ilaje Local Government Area of Ondo State. The victims comprised five crew members and 20 passengers.

The aircraft was reportedly on a routine mission when it crashed in the riverine area of Ondo State. Search-and-rescue operations were immediately launched, but the Nigerian Air Force later confirmed that there were no survivors.

The tragedy claimed the lives of several military personnel, including Squadron Leader AP Man-Ugwueje, who was among the aircraft’s crew.

READ ALSO:

Reports following the crash said Man-Ugwueje had recently been promoted and had married about two weeks before the tragedy.

Another victim, Flying Officer IM Adeshina, was also reportedly a relatively recent addition to the NAF and was said to have distinguished himself during his training.

The deaths have sent shockwaves through the Nigerian military, particularly because some of the personnel were reportedly preparing for further professional development when the tragedy occurred.

The Chief of the Air Staff, Air Marshal Sunday Kelvin Aneke, has ordered a comprehensive investigation into the circumstances surrounding the crash.

The Nigerian Air Force has also appealed to the public to avoid speculation and the circulation of unverified information while the investigation continues.

For the four engineers, what was expected to be the beginning of an important phase in their military careers ended in tragedy, with their planned foreign training cut short by the fatal aircraft crash.

Four NAF Engineers Died Days Before Foreign Course Deployment — Sources

Loading

Continue Reading

metro

UCH CMD: After Decades Without Muslim, Agunbiade Demands Fair Chance

Published

on

Mallam Ibrahim Agunbiade

UCH CMD: After Decades Without Muslim, Agunbiade Demands Fair Chance

‘Let Merit, Not Religion, Decide Next Appointment’

IBADAN — A Muslim stakeholder, Mallam Ibrahim Agunbiade, has called for a transparent and merit-driven process in the appointment of the next Chief Medical Director (CMD) of the University College Hospital (UCH), Ibadan, saying a qualified Muslim candidate should be given a fair chance to lead the institution.

Agunbiade, in a statement on Monday, argued that the leadership history of the premier teaching hospital showed that Muslims had not occupied the position of Chief Medical Director for decades.

He said the situation deserved serious consideration as the process for selecting a successor to the incumbent CMD, Prof. Jesse Abiodun Otegbayo, gets underway.

According to him, Otegbayo, who became CMD in 2019, was reappointed for a second term in 2023.

Agunbiade said the succession of UCH chief executives had included Prof. E. O. Akande (1978–1984), Prof. A. O. K. Johnson (1984–1985), Prof. B. O. Osuntokun (1986–1990), Prof. O. O. Ajayi (1990–1998), Prof. M. O. Olatawura (1998–2003), Prof. A. O. Ilesanmi (2003–2011), Prof. T. O. Alonge (2011–2019) and Otegbayo.

He stressed that his intervention was not intended to question the professional records or achievements of the past CMDs.

Rather, he said, the issue was whether a qualified Muslim professional should continue to be excluded from the highest executive position at the institution.

“How long should a qualified section of the institution’s community wait before it sees one of its own given a genuine opportunity to lead?”

Agunbiade said the question was particularly important because UCH was a federal teaching hospital with a national mandate, serving Nigerians irrespective of religion, ethnicity or background.

‘Not Asking For Religious Favour’

The stakeholder rejected the suggestion that his position amounted to a demand for religious preference.

READ ALSO:

He said his argument was that merit and representation should work together, rather than treating them as opposing principles.

“The demand, therefore, is not that UCH should appoint a Muslim because he is Muslim,” he said.

“The demand is that if a Muslim candidate is professionally qualified, experienced, competent and suitable, his religion must not become an invisible barrier to his appointment.”

He noted that the advertised position carried stringent requirements, including medical registration, post-qualification experience, specialist fellowship, consultancy experience, integrity and administrative competence.

According to him, once a candidate meets the professional requirements and emerges as the best person through a credible selection process, religion should not disqualify the candidate.

‘Muslim CMD Will Serve All Nigerians’

Agunbiade also dismissed the notion that appointing a Muslim as CMD would change the character of UCH.

He said the successful candidate would remain the head of a federal institution responsible for providing healthcare to Nigerians of all faiths.

“A Muslim CMD will not turn UCH into a Muslim hospital. He will remain the Chief Medical Director of a federal institution serving every Nigerian who walks through its doors,” he said.

He argued that religious identity should not be an obstacle to professional service.

“Just as a Christian CMD can serve Muslim patients without difficulty, a Muslim CMD can serve Christian patients with the same professionalism,” he added.

‘Let Credentials Decide’

Agunbiade urged the authorities to ensure that all qualified candidates are subjected to the same standards during the selection process.

He called for candidates’ academic and professional credentials, experience, integrity, administrative competence and vision to be carefully assessed.

“Let every qualified candidate compete. Let credentials be examined. Let professional experience be assessed. Let integrity and vision determine the outcome,” he said.

He also referred to wider concerns about religious representation in the leadership of institutions linked to UCH and the University of Ibadan, saying the issue had generated concerns among Muslim stakeholders.

He, however, warned against turning the matter into a religious confrontation.

“This is not a call for religious confrontation. It is not an attack on Christians. It is not a rejection of merit. It is a call for inclusion within merit,” he said.

Agunbiade maintained that if a Muslim candidate emerged as the strongest candidate through a transparent and credible process, his faith should not count against him.

He said giving a qualified Muslim a genuine opportunity after decades without a Muslim CMD would send a powerful message about inclusion and equal opportunity in Nigeria’s public institutions.

According to him, UCH belongs to all Nigerians, and its leadership selection should reflect that principle.

UCH CMD: After Decades Without Muslim, Agunbiade Demands Fair Chance

Loading

Continue Reading

Trending