Dare Babalola
A Federal High Court in Lagos has struck out an alleged N31.3 fraud charge against the Chairman of the Honeywell Group, Oba Otudeko, and a former Managing Director of First Bank Plc, Olabisi Onasanya following successful settlement talks among parties.
The Economic and Financial Crimes Commission (EFCC) had earlier dragged the duo before the court, alongside a former Honeywell board member, Soji Akintayo, and a company, Anchorage Leisure Ltd, accusing them of fraudulently obtaining N12.3 billion, N5.2 billion, N6.2 billion, N6.1 billion, and N1.5 billion from First Bank under the guise that the funds were secured by various companies.
However, Justice Chukwujekwu Aneke struck out the case on Wednesday after lead counsel for the EFCC, Rotimi Oyedepo (SAN) told informed the court that the matter had been amicably resolved between the nominal complainant, First Bank of Nigeria, and the first defendants.
The senior advocate added that the EFCC and the Attorney General of the Federation, who initially convened the settlement talks had decided to withdraw the charges, after a thorough review of the various allegations and various correspondence from the bank that the depositors’ funds which is the subject of the charge have been fully recovered and returned to its treasury.
“Upon thorough review of the allegations, and considering that the depositor funds involved in the charge have been fully recovered and returned to First Bank’s treasury, the AGF decided—under Section 180 of the ACJA—to withdraw the charge,” Mr Oyedepo submitted.
Also, Otudeko’s counsel, Bode Olanipekun (SAN), informed the court that all issues leading to the charge had been resolved, confirming that the funds which is the alleged loan have been fully paid back.
Adeyinka Olumide-Fusika (SAN), appearing for the 2nd defendant, on his part, told the judge that they were invited to a meeting and were told that the issue is strictly between the nominal complainant and the 1st Defendant.
Kehinde Ogunwumiju (SAN) speaking for the 3rd defendant aligned himself with the position of the 2nd defendant, while
Elija Akefe who appeared for the 4th defendant said that he had no objection to the withdrawal of the charge.
Accordingly, the court struck out the charge.
