News
Otudeko’s Counsel Protests N12.3bn Fraud Charge in Court
- Otudeko’s counsel protested in court over the N12.3bn fraud charge.
- The charge had not been served on Otudeko and two other defendants.
- EFCC alleges the defendants fraudulently obtained N12.3 billion under false pretenses.
Counsel to Oba Otudeko, Chairman of the Honeywell Group, on Monday protested a N12.3 billion fraud charge against his client at the Federal High Court in Lagos. Mr. Bode Olanipekun (SAN), representing Otudeko and two other defendants, voiced his objection in court, stating that the charge had not yet been served on his client or the other accused parties.
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The 13-count charge, filed by the Economic and Financial Crimes Commission (EFCC), involves Otudeko, former FirstBank Managing Director Olabisi Onasanya, and former Honeywell board member Soji Akintayo.
They are accused of conspiring to defraud through false pretenses, alongside a company, Anchorage Leisure Ltd.
The EFCC alleges that the defendants obtained the sum of N12.3 billion fraudulently.
However, Otudeko’s legal team has raised concerns about the procedural delay in serving the charge, which has now become a point of contention in the ongoing legal proceedings.
The case has attracted significant attention due to Otudeko’s prominent business role, and the court will continue hearing the matter as it progresses.
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