The Federal High Court in Lagos, on Monday, approved an application for substituted service of charges against the Chairman of Honeywell Group, Oba Otudeko, and a former Managing Director of First Bank, Stephen Onasanya, who are facing 13 counts of alleged fraud involving N12.3 billion.
The defendants were scheduled for arraignment before Justice C.J. Aneke but were absent, with their lawyers arguing that the Economic and Financial Crimes Commission (EFCC) had not served the charges on them. Alongside Otudeko and Onasanya, the case involves Soji Akintayo, a former board member of Honeywell, and Anchorage Leisure Limited, a company allegedly linked to Otudeko.
The EFCC accuses the defendants of obtaining N12.3 billion from First Bank under false pretenses. When the case was called, the defence lawyers protested that their clients had not been served the charges, despite being aware of the case through media reports. Mr. Bode Olanipekun (SAN), representing Otudeko, stated that his client had only learned of the proceedings through newspaper headlines.
Justice Aneke questioned how the lawyers were aware of the case if their clients had not been served, to which Olanipekun explained that the charges had been widely reported in national newspapers. The lawyer argued that the EFCC’s public announcement of the case was unfair to his client.
In response, EFCC prosecutor Mr. Rotimi Oyedepo (SAN) explained that multiple attempts had been made to serve the charges but were unsuccessful. He requested an order for substituted service, which Justice Aneke granted. Onasanya’s lawyer, Mr. Adeyinka Olumide-Fusika (SAN), expressed his willingness to accept service on behalf of his client, as he had already received a printed copy of the charge sheet.
Following the court’s approval, the charge sheet was handed to Olumide-Fusika, and the case was adjourned to February 13, 2025, for the defendants’ arraignment.
The charges allege that between 2013 and 2014, the defendants conspired to obtain N12.3 billion from First Bank under the false pretense that the funds were for credit facilities applied for by Tech Dynamic Links Limited and Stallion Nigeria Limited. The EFCC claims the funds were obtained in four separate transactions and that the defendants knew the representations were false. The charges contravene the Advance Fee Fraud and Other Fraud Related Offences Act of 2006.
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