EFCC’s N12.3 Billion Fraud Charge Against Oba Otudeko Faces Legal Setback

Counsel representing Oba Otudeko, Chairman of the Honeywell Group, appeared before a Federal High Court in Lagos on Monday, protesting the N12.3 billion fraud charge leveled against him. Mr. Bode Olanipekun (SAN), who represents Otudeko and two other defendants, informed the court that they were protesting the charge as it had not yet been formally served on Otudeko or the co-defendants.

The 13-count charge, filed by the Economic and Financial Crimes Commission (EFCC), accuses Otudeko, the former Managing Director of FirstBank Plc., Olabisi Onasanya, and former Honeywell board member Soji Akintayo, along with the company Anchorage Leisure Ltd., of obtaining the sum under false pretenses.

Olanipekun’s protest comes as part of a broader legal strategy to challenge the allegations, and the matter is expected to progress as further details emerge.