Ex-First Bank Chairman Oba Otudeko Flees Nigeria Ahead of EFCC Arraignment

Oba Otudeko, the former chairman of First Bank of Nigeria (FBN), has reportedly fled Nigeria just before his scheduled arraignment by the Economic and Financial Crimes Commission (EFCC) on fraud charges. Sources familiar with the matter revealed that Otudeko left the country through one of Nigeria’s land borders on Thursday evening, with security operatives confirming that he was dropped off at the Nigeria-Benin border by a family member.

This development came just hours after the EFCC filed a 13-count charge against Otudeko and three others, accusing them of obtaining a N30 billion loan under false pretenses. The other defendants named in the case include Stephen Olabisi Onasanya, a former Group Managing Director of First Bank; Soji Akintayo, a former board member of Honeywell Flour Mills Plc; and Anchorage Limited, a company linked to Otudeko.

The EFCC had scheduled the arraignment for Monday, but with Otudeko’s sudden departure, it is now unclear how the agency will proceed with the case. Attempts to contact Otudeko or his representatives for comment were unsuccessful at the time of filing this report.