First Bank vs. Otudeko: Counsel for defendants’ protest N12.3 billion charge in court 

Counsel for the defendants in the N12.3 billion charge against Oba Otudeko, the Chairman of Honeywell Group and former Managing Director of First Bank Plc and others, announced an appearance in protest of the charge on Monday.

The charge, FHC/L/20C/2025, alleged that the defendants fraudulently obtained the sum of N12.3 billion from the last holder bank, First Bank.

Soji Akintayo, the former director of Honeywell, Aristech Global Limited, as well as Otudeko himself, had previously been served a 13-count charge by the EFCC, Economic and Financial Crimes Commission relevant to the use of the funds.

Between 2013 and 2014, the Commission alleges these funds were obtained in various Naira tranches: N6 billion, N5.2 billion, N1.5 billion, N6.2 billion, N6.1 billion, and N500 million.

“I am here in protest,” said Bode Olanipekun (SAN) when stating that he was serving his client in charge, “this document had not been served to my client.” The second defendant’s law firm, as represented by Olumide Fusika (SAN), stated that he had printed the charging document already.

The third and fourth defendants were heard in a protest by Adeogun Philips, while the third defendant was defended by Kehinde Ogunwumiju (SAN). He claimed that his client did not have the charge.

Justice Chukwujekwu Aneke cross-examined the defence counsel during proceedings and Olanipekun stated that last week, it was gathered from the news that there were plans to arraign the defendants today.

He showed them a number of the major national dailies and he was able to obtain the parts where it was reported that the defendants were to be facilitated before Justice Aneke, which he dubbed as very rude behaviour because his client had not been served with a charge yet.

Prosecutor Rotimi Oyedepo (SAN) informed the court that his attempts to serve the remaining defendants had not yielded any results. Consequently, he applied to serve the documents by substituted means at their last known addresses, and the court granted the application.

After moving his application, the second defence counsel said he would be able to accept service of the charge because he had already printed a copy. PUnderthe ruling of the court, he handed the prosecutor the charge during the session, and the prosecutor marked it for identification as Fusika.

The court put the matter on adjournment till February 13, for the arraignment of the defendants.