AGF Blocks EFCC From Arraigning Oba Otudeko Over N12.3bn Fraud

In a dramatic power tussle between two top government institutions, Attorney General of the Federation (AGF), Lateef Fagbemi (SAN), has overruled the Economic and Financial Crimes Commission (EFCC), halting the planned arraignment of billionaire businessman Oba Otudeko in an alleged N12.3 billion fraud case.

Sources familiar with the matter told the press that a high-level meeting was convened due to a growing crisis in the handling of the case. The EFCC insisted that Otudeko must enter a plea before any form of settlement could be considered—citing the precedent set in the case of former Kogi State Governor Yahaya Bello.

But the AGF intervened, telling the court that his office had assumed control of the case and that negotiations toward a possible out-of-court settlement were already underway. This move prompted Justice Chukwujekwu Aneke to adjourn the matter to June 11, 2025.

“The AGF overruled the EFCC, preventing the agency from forcing Oba Otudeko to appear for arraignment,” a source revealed. “They argued over the Yahaya Bello precedent, but the AGF made it clear the case was now under his purview and talks were ongoing.”

Otudeko, Chairman of Honeywell Group, is standing trial alongside former First Bank MD Olabisi Onasanya, ex-Honeywell board member Soji Akintayo, and Anchorage Leisure Limited. The EFCC alleges they conspired to commit fraud and obtain money under false pretenses.

Otudeko’s lawyer, Wole Olanipekun (SAN), had informed the court at an earlier sitting that the AGF called a meeting with all parties on March 12, 2025, followed by another on April 9, to explore a settlement path. However, no agreement has been reached yet.

Despite the EFCC’s call for immediate arraignment, the court has repeatedly adjourned the matter since February—first to rule on preliminary objections, and now to await the outcome of negotiations led by the AGF.

The case was initially slated for arraignment on March 17, where Justice Aneke ruled that the defendants must be docked before their objections to jurisdiction would be heard.

Neither the AGF’s spokesperson nor EFCC officials have publicly commented on the apparent standoff.

The next hearing is set for June 11, 2025, for what the court described as a “report on settlement and/or arraignment.”

credit: Sahara Reporters.