On Monday, Oba Otudeko, Chairman of Honeywell Group, appeared before a Federal High Court in Lagos, charged with N12.3 billion fraud. Counsel Bode Olanipekun protested the charges, stating they had not been served on Otudeko and two co-defendants. The Economic and Financial Crimes Commission (EFCC) accused Otudeko, former First Bank Managing Director Olabisi Onasanya, and ex-Honeywell board member Soji Akintayo of obtaining funds from First Bank under false pretenses.
During the hearing, defense counsels noted that their clients had not received the charges. Prosecution counsel Rotimi Oyedepo confirmed efforts to serve the charges were unsuccessful and moved for substituted service at the defendants’ last known addresses. The court adjourned the case to February 13 for arraignment. According to the EFCC, the alleged fraud occurred in 2013 and 2014, with altered documents used to deceive the bank.