A Federal High Court in Lagos has ordered Oba Otudeko, founder and chairman of the Honeywell Group, to appear in court to face charges filed by the Economic and Financial Crimes Commission (EFCC). The EFCC has accused Otudeko and three others of involvement in an alleged ₦30 billion loan fraud, leading to a 13-count charge against them.
During a recent proceeding, Justice Chukwujekwu Aneke emphasized that Otudeko must be formally arraigned before any applications challenging the court’s jurisdiction can be considered. The judge stated, “Whatsoever filed by defendant or defendants in a criminal charge can be taken before plea.”
The charges against Otudeko and his co-defendants include conspiracy to defraud First Bank, obtaining loans under false pretenses, and money laundering activities involving the diversion and conversion of bank funds for personal use. The EFCC alleges that between 2013 and 2014, the defendants orchestrated fraudulent transactions totaling ₦12.3 billion through fraudulent credit facilities.
Previously, Otudeko’s arraignment was postponed due to his absence, as his legal team informed the court that he was in London for medical treatment. His counsel emphasized that he left Nigeria lawfully and did not abscond.
The court has adjourned the case to May 8 for further proceedings, during which Otudeko is expected to be present to take his plea.
