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By Lukman Olabiyi
The Federal High Court in Lagos has fixed Monday, January 20, for the arraignment of the Chairman of Honeywell Group, Chief Oba Otudeko and a former First Bank of Nigeria (FBN) Managing Director, Stephen Olabisi Onasanya for allegedly looting N12.3 billion from First Bank.
Otudeko, former chairman of FBN Holdings – and Onasanya alongside a former board member of Honeywell Soji Akintayo and a firm, Anchorage Leisure Limited connected to Otudeko were dragged before the court by the Economic and Financial Crimes Commission (EFCC).
According to the EFCC, the four committed the fraud in tranches of N5.2billion, N6.2billion, N6.150billion, N1.5billion and N500million, between 2013 and 2014 in Lagos,
The 13-count charge, filed by EFCC counsel Bilikisu Buhari on January 16, 2025, further claimed that the defendants,made and uttered forged documents to deceive the bank.
Otudeko, Onasanya, Akintayo and Anchorage will be brought before Justice Chukwujekwu Aneke, to whom the case, registered as FHC/L/20C/2025, has been assigned.
Specifically, count 1 accused the defendants of conspiring “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.”
In Count 2, it was alleged that the defendants, on or about 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 3rd count claimed that 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.”
In the 4th count, they were accused of conspiring to spend the N6,15 billion out of the monies.
According to the commission, the offences contravened Section 8(a) of Advance Fee Fraud and Other Fraud Related Offences Act 2006 and was punishable under Section 1(3) of the same Act.
