January 20, (THEWILL) – The Federal High Court, sitting in Ikoyi, Lagos, has adjourned until February 13, the arraignment of Chief Oba Otudeko, Chairman of Honeywell Group and three others, including Stephen Onasanya (former First Bank Managing Director), Soji Akintayo (former board member of Honeywell) and a firm, Anchorage Leisure Limited.
On Wednesday, the Economic and Financial Crimes Commission (EFCC) filed a 13-count charge of fraud running into billions of naira against Otudeko, a former Chairman of First Bank of Nigeria (FBN) Holdings and the three co-defendants.
While the defendants had been scheduled for arraignment on Monday, before Justice Chukwujekwu Aneke, at Monday’s sitting, counsel to Otudeko, Bode Olanipekun SAN, informed the court that the charge had not been served on his client.
Asked why all defence counsels were in court, Olanipekun told the court that the media, on January 17, 2025, widely reported that the defendants were to be arraigned on Monday but insisted that his client had not been served any charge.
Olumide Fusika SAN, who announced his appearance for the second defendant; and Kehinde Ogunwumiju SAN, counsel for the third defendant, as well as Adeogun Philips, SAN, who represented the fourth defendant, informed the court that they printed copies of the charge online.
In response, lead prosecutor, Rotimi Oyedepo, SAN, told the court that efforts had been made to effect service on the defendants without success. He told the court that the prosecution had a motion for substituted service at the last known addresses of the defendants.
After moving his application, counsel to the second defendant informed the court that he was willing to undertake service of the charge for his client since he had already taken steps to print the same.
Following a directive by the court to issue service on the second defence counsel, who had indicated willingness to accept the same, the prosecutor handed Fusika a copy of the charge in court.
Justice Aneke consequently adjourned the case till February 13, 2025, for arraignment of the defendants.
THEWILL earlier reported that the EFCC had in its 13-count charge marked FHC/L/20C/2025, alleged that Otudeko, Onasanya, Akintayo and Anchorage, conspired “to obtain the sum of N12.3 Billion from First Bank Limited on the pretence that the said sum represented credit facilities applied for by V-TECH DYNAMIC LINKS LIMITED and Stallion Nigeria Limited, which representation you know to be false.”
Count 2 alleged that the defendants, on or about the 26th day of November 2013 in Lagos, “obtained the sum of N5.2 Billion from First Bank Limited on the pretence that the said sum represented credit facilities applied for by V TECH DYNAMIC LINKS LIMITED which representation you know to be false.”
The defendants, “between 2013 and 2014 in Lagos, obtained N6.2 Billion from First Bank Limited on the pretence that the said sum represented credit facilities applied for and disbursed to Stallion Nigeria Limited, which representation you know to be false.” It further alleged that they conspired to spend the N6,15 Billion, out of the monies.
The offences, the anti-graft agency said, contravened Section 8(a) of the Advance Fee Fraud and Other Fraud Related Offences Act 2006 and were punishable under Section 1(3) of the same Act.
Other Charges alleged: “That you, CHIEF OBA OTUDEKO, STEPHEN OLABISI ONASANYA, SOJI AKINTAYO AND ANCHORAGE LEISURE LIMITED on or about 11th day of December 2013 in Lagos, procured Honeywell Flour Mills Plc to retain the sum of N1,5 Billion, which sum you reasonably ought to have known forms part of proceeds of your unlawful activities to wit: Obtaining by False Pretense and you thereby committed an offence contrary to Section 18(c), 15 (2) (d) of the Money Laundering (Prohibition) Act, 2011 (as amended) and punishable under Section 15(3) of the same Act.
“That you, CHIEF OBA OTUDEKO, STEPHEN OLABISI ONASANYA, SOJI AKINTAYO, AND ANCHORAGE LEISURE LIMITED on or about the 17th day of December 2013 in Lagos, converted to the use of Honeywell Flour Mills Plc the sum of N500 Million Naira Only which sum you reasonably ought to have known forms part of proceeds of your unlawful activities to wit: Obtaining by False Pretense and you thereby committed an offence contrary to Section 15(2 (b)) of the Money Laundering (Prohibition) Act, 2011 (as amended) and punishable under Section 15(3) of the same Act.”
“That you, CHIEF OBA OTUDEKO, STEPHEN OLABISI ONASANYA, SOJI AKINTAYO AND ANCHORAGE LEISURE LIMITED, on or about the 3rd day of September 2013 in Lagos and within the jurisdiction of this Honourable Court, conspired amongst yourselves to commit an offence to wit: uttering a forged document – titled “Letter of Application” with intent that it may be used by the First Bank in the belief that the said document is genuine and emanated from V-Tech Links Dynamic Limited, and you thereby committed an offence contrary to Section 3(6) of the MISCELLANEOUS OFFENCES ACT, Cap M17 Laws of the Federation of Nigeria 2004 and punishable under Section 1(2)(c) of same Act.
“That you, CHIEF OBA OTUDEKO, STEPHEN OLABISI ONASANYA, SOJI AKINTAYO AND ANCHORAGE LEISURE LIMITED on or about the 3rd day of September 2013 in Lagos and within the jurisdiction of this Honourable Court uttered a forged document titled “Letter of Application” with intent that it may be used by the First Bank in the belief that the said document is genuine and emanated from V-Tech Dynamic Links Limited, and you thereby committed an offence contrary to Section 1(2)(c) of the MISCELLANEOUS OFFENCES ACT, Cap M17 Laws of the Federation of Nigeria 2004 and punishable under same Act.
“That you, CHIEF OBA OTUDEKO, STEPHEN OLABISI ONASANYA, SOJI AKINTAYO AND ANCHORAGE LEISURE LIMITED on or about the 3rd day of September 2013 in Lagos and within the jurisdiction of this Honourable Court conspired amongst yourselves to commit an offence to wit: making false document titled “AUTHORIZATION TO ISSUE INVESTMENT CERTIFICATE TO FIRST BANK” with intent that it may be used by First Bank in the belief that the said document is genuine and emanated from V-Tech Links Dynamic Limited, and you thereby committed an offence contrary to Section 3(6) of the MISCELLANEOUS OFFENCES ACT, Cap M17 Laws of the Federation of Nigeria 2004 and punishable under Section 1(2)(c) of same Act.
“That you, CHIEF OBA OTUDEKO, STEPHEN OLABISI ONASANYA, SOJI AKINTAYO AND ANCHORAGE LEISURE LIMITED on or about the 3rd day of September, 2013 in Lagos and within the jurisdiction of this Honourable Court made a forged document titled “AUTHORISATION TO ISSUE INVESTMENT CERTIFICATE TO FIRST BANK” with Intent that it may be used by the First Bank in the belief that the said document is genuine and emanated from V-Tech Links Dynamic Limited, and you thereby committed an offence contrary to Section 1(2) (c) of the MISCELLANEOUS OFFENCES ACT, Cap M17 Laws of the Federation of Nigeria 2004 and punishable under same Act.
“That you, CHIEF OBA OTUDEKO AND STEPHEN OLABISI ONASANYA on or about the 31st day of October 2014 in Lagos, within the jurisdiction of this Honourable Court procured Abiodun Olatunji and Raymond Eze to transfer the sum of N6,200,000,000 (Six Billion, Two Hundred Million Naira Only), to STALLION NIGERIA LIMITED’s account number “2015708429” domiciled with First Bank, which sums you reasonably ought to have known formed part of the proceeds of unlawful activities to wit: Fraudulent False Accounting and you thereby committed an offence contrary to Sections 18 (c) and 15(2 (b) of the Money Laundering (Prohibition) Act, 2011 (as amended) and punishable under Section 15(3) of the same Act.
“That you, CHIEF OBA OTUDEKO AND STEPHEN OLABISI ONASANYA on or about the 11th day of December 2013 in Lagos, within the jurisdiction of this Honourable Court procured Abiodun Olatunji and Raymond Eze to transfer the sum of N2,090,000,000 (Two Billion, Ninety Million Naira Only), from STALLION NIGERIA LIMITED’s account number “2015708429” domiciled with First Bank to Emmerado Logistics Limited’s account number “0688985010” domiciled with First City Monument Bank, which sums you reasonably ought to have known formed part of the proceeds of unlawful activities to wit: Fraudulent False Accounting and you thereby committed an offence contrary to Sections 18 (c) and 15(2 (b) of the Money Laundering (Prohibition) Act, 2011 (as amended) and punishable under Section 15(3) of the same Act.
“That you, CHIEF OBA OTUDEKO on or about the 3rd day of September 2013 in Lagos, within the jurisdiction of this Honourable Court whilst being the Chairman of First Bank Plc indirectly had a personal interest in a loan facility sought for by V Tech Dynamics Links Limited in the sum of N6,150,000,000.00 (Six Billion, One Hundred and Fifty Million Naira Only), which interest was not declared to the Bank and you thereby committed an offence contrary to Section 18(1) BANKS AND OTHER FINANCIAL INSTITUTIONS ACT 2004 and punishable under Section 18(2) of same Act.”
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