A Federal High Court, sitting in Ikoyi, Lagos, on Thursday, May 8, 2025, adjourned an alleged N12.3bn fraud brought against Oba Otudeko and others by the Lagos Directorate 1 of the Economic and Financial Crimes Commission, EFCC, Ikoyi, Lagos till June 11, 2025.
Presiding Judge, Justice Chukwujekwu Aneke on Thursday adjourned the case “for a report on settlement and/or arraignment” of the Chairman of Honeywell Group, alongside a former Managing Director of First Bank Plc, Olabisi Onasanya; a former board member of Honeywell, Soji Akintayo, and a firm, Anchorage Leisure Limited, on a 13-count charge bordering on obtaining by false pretense to the tune of N12.3 billion.
At the last adjourned sitting on March 17, 2025, Otudeko’s lawyer, Wole Olanipekun SAN had informed the court that a meeting involving all counsel had been convened at the instance of the Attorney General of the Federation, AGF, towards reaching a peaceful settlement of the matter. The meeting in the office of the AGF took place on April 9, 2025 but a resolution was not reached, thus the parties were still negotiating settlement and have not concluded talks regarding settlement negotiations.
As a result, prosecution counsel, Bilkisu Buhari-Bala , agreed that the case be adjourned for a report of settlement or an arraignment.
