Kehinde Fajobi
The Federal High Court in Lagos, on Monday, approved substituted service of charges on the Chairman of the Honeywell Group, Oba Otudeko, and former First Bank Managing Director, Stephen Onasanya, in a ₦12.3bn fraud case.
The defendants, who are facing 13 counts of alleged fraud, failed to appear in court for arraignment before Justice C.J. Aneke, prompting their lawyers to claim they had not been served the charges.
Other defendants include a former Honeywell board member, Soji Akintayo, and Anchorage Leisure Limited, a company allegedly linked to Otudeko.
The Economic and Financial Crimes Commission (EFCC) accused them of obtaining funds from First Bank under false pretences.
During the hearing, Otudeko’s lawyer, Mr Bode Olanipekun (SAN), stated, “I am appearing in protest because my client has not been served.” Similarly, Onasanya’s lawyer, Mr Adeyinka Olumide-Fusika (SAN), noted that while his client was not served, he had a printed copy of the charge sheet.
Justice Aneke questioned how the defence counsel were aware of the case if their clients were not served.
Olanipekun responded, saying, “We learnt about it through national newspapers on Friday, which carried screaming headlines about the arraignment.”
The EFCC prosecutor, Mr Rotimi Oyedepo (SAN), argued that attempts to serve the defendants had been unsuccessful, prompting him to request substituted service, which the judge granted.
However, Olumide-Fusika agreed to accept the charge sheet on behalf of his client.
The court adjourned the case to 13 February 2025 for arraignment.
According to the EFCC, the defendants conspired to fraudulently obtain funds from First Bank between 2013 and 2014.
They allegedly secured multiple tranches amounting to ₦12.3bn under the guise of credit facilities for Tech Dynamic Links Limited and Stallion Nigeria Limited.
The charges include violations of the Advance Fee Fraud and Other Fraud Related Offences Act 2006, with penalties under Section 1(3) of the same law.