Court gavel
By OLA MODUPE, Lagos-
Federal High Court in Lagos has struck out a 13-count charge filed by the Economic and Financial Crimes Commission (EFCC) against the Chairman of Honeywell Group, Oba Otudeko and three others.
The charges were withdrawn following a comprehensive review of the representations submitted by all relevant parties, including those from First Bank of Nigeria and the defence counsel.
The EFCC had accused Otudeko, former First Bank Managing Director Olabisi Onasanya, former Honeywell board member Soji Akintayo, and Anchorage Leisure Limited of fraudulently obtaining N12.3 billion from First Bank through misrepresentation of credit facilities.
However, the prosecution counsel, Rotimi Oyedepo, informed the court that the matter had been amicably resolved between the nominal complainant and the defendants.
*Court’s Decision*
Justice Chukwujekwu Aneke struck out the charge, citing Section 180 of the Administration of Criminal Justice Act (ACJA), which allows the Attorney General to discontinue prosecution in the interest of justice and public policy.
Oyedepo stated, “Upon thorough review of the allegations, and considering that the depositor funds involved in the charge have been fully recovered and returned to First Bank’s treasury, the AGF decided to withdraw the charge”.
*Reaction from Honeywell Group*
Honeywell Group welcomed the development, describing it as a reaffirmation of Otudeko’s integrity.
According to Olasumbo Abolaji, Counsel to Honeywell Group, “This development marks the closure of a chapter that, while challenging, never diminished our confidence in Dr. Otudeko’s integrity or our belief in the principles that have guided his life and leadership”.
The group emphasized that the case was a commercial transaction investigated by the EFCC and resolved eight years ago, with no finding or admission of wrongdoing.
