Lawyer challenges legitimacy of N12.3bn fraud charges against Otudeko in court

The lawyer representing the Chairman of the Honeywell Group, Oba Otudeko, who is facing charges of alleged N12.3 billion fraud, appeared before a Federal High Court in Lagos on Monday to protest the charges.

Bode Olanipekun (SAN), counsel for Otudeko and two other defendants, informed the court that his protest stemmed from the fact that the charges had not been formally served on his clients.

The Economic and Financial Crimes Commission, EFCC, filed a 13-count charge against Otudeko, a former Managing Director of First Bank Plc, Olabisi Onasanya, and a former Honeywell board member, Soji Akintayo. The case, marked FHC/L/20C/2025, accuses the defendants of misappropriating N12.3 billion from First Bank.

According to the EFCC, the alleged fraud occurred in multiple tranches of N5.2 billion, N6.2 billion, N6.1 billion, N1.5 billion, and N500 million between 2013 and 2014 in Lagos. The commission also alleges that the defendants forged and manipulated documents to mislead the bank.

The charges were filed on Thursday, January 16, by EFCC prosecutor Bilikisu Buhari.