‘Dismissed!’ Court Postpones Otudeko’s, Ex-FBN Arraignment Over EFCC’s Failure to Serve Charges

The scheduled arraignment of Oba Otudeko, a former chairman of First Bank Nigeria (FBN), and other defendants was postponed on Monday due to the Economic and Financial Crimes Commission‘s (EFCC) inability to serve court papers.

The EFCC had filed a 13-count charge against Otudeko and co-defendants, including Stephen Onasanya, former group managing director of FBN; Soji Akintayo, ex-board member of Honeywell Flour Mills Plc; and Anchorage Limited, a company linked to Otudeko.

The charges allege that the defendants obtained several loans amounting to billions of naira under false pretenses. The amounts include N12.3 billion, N5.2 billion, N6.2 billion, N6.1 billion, and N1.5 billion, purportedly acquired on behalf of various firms.

Claims of Departure Amid Legal Controversy
Amid the pending arraignment, Otudeko reportedly left Nigeria via a land border. According to security sources, he was dropped off at the Nigeria-Benin border last Thursday evening. While family sources claimed he traveled for medical reasons, his sudden departure has sparked speculation.

Monday’s Court Session
During Monday’s session, none of the defendants were present. Counsel to Otudeko, Bode Olanipekun, informed the court that his client had not been served with the EFCC charges, despite widespread media reports on January 17.

Olanipekun criticized the release of charge sheets to the public before formal service, calling it an unfair practice.

Similarly, Olumide Fusika, counsel to Onasanya, expressed discontent over what he described as a “media trial,” emphasizing that his client had not been served or formally invited by the EFCC.

“My Lord, it is concerning that my client has been unduly exposed to media trial without being formally served,”

Fusika said.

This is a procedural anomaly that undermines his right to a fair hearing and personal dignity.”

Counsels to Akintayo and Anchorage Limited, Kehinde Ogunwumiju and Adeogun Philips, respectively, also noted that their clients had not received the charges.

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EFCC’s Response
EFCC counsel Rotimi Oyedepo refuted allegations of a media trial, explaining that the agency did not release any official statements on the charges. He attributed media access to information to other sources.

Oyedepo informed the court that the EFCC had made several attempts to serve the defendants but had been unsuccessful, prompting the agency to seek substituted service at their last known addresses.

Fusika opposed the motion for substituted service, maintaining that his client was ready to proceed and should be served directly in court.

“This application is unwarranted and speculative. My client has neither avoided service nor absented himself from this matter,”

“Since I am here and my client is ready to go ahead with this case, I ask to be served the charge and the proof of evidence here in the court,”

Fusika argued.

Court’s Ruling
Justice Chukwujekwu Aneke dismissed the EFCC’s motion for substituted service for Onasanya, ordering that the charges and proof of evidence be served in open court.

The case was adjourned to February 13, 2025, for further proceedings.