‘Challenging!’ Otudeko Fails to Appear in Court in Alleged N6b Fraud Case

OwelekeTV — Chairman of Honeywell Group, Oba Otudeko, yesterday failed to appear before the Federal High Court in Lagos for arraignment in the N6 billion fraud case against him and others.

The prosecution’s legal team was led by Rotimi Oyedepo (SAN).

Babajide Koku (SAN) and Buchi Ofulue held watching briefs for First Bank as the complainant.

The defendants were represented by Chief Wole Olanipekun (SAN) and Bode Olanipekun (SAN) for Otudeko; Olumide Fusika (SAN) and Supo Shasore (SAN) for Onasanya and Kehinde Ogunwumiju (SAN) for Akintayo.

Otudeko’s lawyers urged Justice Chukwujekwu Aneke to hear their preliminary objection challenging the court’s jurisdiction.

It is on the ground that the allegations against Otudeko related to a loan facility, boardroom politics and schemes by other shareholders to wrestle control of the bank.

They argued that the charge was deeply rooted in malice, adding that the proof of evidence discloses no prima facie case against Otudeko and the other defendants.

Economic and Financial Crimes Commission (EFCC) lawyer Oyedepo opposed Olanipekun’s application.

Relying on the Court of Appeal decision in the case of Yahaya Bello, he urged the court not to take any application by the defendants challenging jurisdiction until they appeared in court for arraignment and their plea taken.

Debunking the defendants’ claim, Oyedepo referred the court to the charges.

He added that the facts and circumstances of the case revealed that the depositors’ funds in First Bank were fraudulently converted to the use of the defendants.

Oyedepo submitted that the court had the power and requisite jurisdiction to hear and determine each of the counts contained in the criminal charge.

He argued:

“The current charge was filed in accordance with the provisions of the Administration of Criminal Justice Act, 2015.

“The ACJA did not impose on the prosecution additional obligation of filing affidavit completion of investigation before filing a criminal charge.”

He insisted that the charge stemmed from a detailed investigation, revealing that the first and second defendants colluded to defraud First Bank.

From the charge and supporting documentation, the prosecution’s case is that the allegations against the defendants neither arose from nor are founded on a civil/contractual relationship between First Bank and V- Tech Dynamic Links Limited.

EFCC said the charge rather emanated from a detailed investigation that revealed the meeting of the minds of Otudeko and Onasanya to use their positions as principal officers of First Bank to defraud the bank in conjunction with the other defendants.

According to Oyedepo, Otudeko, Onasanya and their subordinates fraudulently transferred about N6,000,000,000 on November 26, 2013, to an account surreptitiously opened in the name of V-Tech Dynamic Links Limited.

Otuteko as Chairman and Onasanya as Managing Director of the First Bank, caused the said sum to be transferred to Anchorage’s account, EFCC said.

At the close of oral submissions, the court adjourned the matter to March 17, 2025, to decide whether or not Otudeko must appear in court for arraignment before his application challenging jurisdiction can be heard.

Oyedepo then applied for an order against Otudeko to make himself available in court on March 17.

He prayed that Olanipekun should undertake to produce him on that day as the other counsel in the case had done for the other defendants.

Olanipekun declined to undertake to produce Otudeko, citing his (Otudeko’s) ill health as the excuse for not being in a position to give such an undertaking.

It was noted that the purported medical examination that Otudeko is currently undergoing had his last doctor visit on February 14.

Justice Aneke responded that March 17 is enough time for Otudeko to make himself available in court.