The Economic and Financial Crimes Commission (EFCC) will on Monday arraign the Chairman, Honeywell Group, Chief Oba Otudeko, over alleged N12.3bn fraud.
The suit also names a former Managing Director of First Bank, Olabisi Onasanya; an ex-Honeywell board member, Soji Akintayo and Anchorage Leisure Ltd as defendants.
In a suit marked: FHC/L/20C/2025, the anti-graft agency filed 13 charges against the defendants at the Federal High Court in Lagos, bordering on fraud and forgery among others.
The EFCC accused the defendants of obtaining N12.3bn from First Bank Limited on the pretence that the said sum represented credit facilities applied for by V-tech Dynamic Links Limited and Stallion Nigeria Limited between 2013 and 2014.
They were also accused of obtaining N6.2billion from First Bank Limited on the pretence that the said sum represented credit facilities applied for and disbursed to Stallion Nigeria Limited between 2013 and 2014 in Lagos but the claim was false.
Count 8 read, “That you, Chief Oba Otudeko, Stephen Olabisi Onasanya, Soji Akintayo and Anchorage Leisure Limited on or about the 3rd day of September 2013 in Lagos and within the jurisdiction of this Honourable Court uttered a forged document titled “Letter of Application” with the intent that the First Bank may use it in the belief that the said document is genuine and emanated from V-Tech Dynamic Links Limited, and you thereby committed an offence contrary to Section 1(2)(c) of the miscellaneous offences Act, Cap M17 Laws of the Federation of Nigeria 2004 and punishable under same Act.”
COUNT 13 stated, “That you, Chief Oba Otudeko on or about 3rd day of September 2013 in Lagos, within the jurisdiction of this Honourable Court whilst being the Chairman of First Bank Plc indirectly had a personal interest in a loan facility sought for by V Tech Dynamics Links Limited in the sum of N6,150,000,000.00 (Six Billion, One Hundred and Fifty Million Naira Only), which interest was not declared to the Bank and you thereby committed an offence contrary to Section 18(1) banks and other Financial Institutions Acts 2004 and punishable under Section 18(2) of same Act.”
Madukwe B. Nwabuisi is an accomplished journalist renown for his fearless reporting style and extensive expertise in the field. He is an investigative journalist, who has established himself as a kamikaze reporter.
