The Federal High Court in Lagos has scheduled Monday, January 20, 2025, for the arraignment of the Chairman of Honeywell Group, Chief Oba Otudeko, and a former Managing Director of First Bank, Stephen Olabisi Onasanya, over an alleged N12.3 billion fraud involving First Bank.
Otudeko, who is a former Chairman of FBN Holdings, and Onasanya will appear in court alongside Soji Akintayo, a former board member of Honeywell, and Anchorage Leisure Limited, a firm linked to Otudeko.
According to the Economic and Financial Crimes Commission (EFCC), the accused are alleged to have orchestrated the fraudulent activities between 2013 and 2014 in Lagos, involving tranches of N5.2 billion, N6.2 billion, N6.15 billion, N1.5 billion, and N500 million.
The 13-count charge, filed by EFCC counsel Bilikisu Buhari on January 16, 2025, alleges conspiracy, forgery, and false representation to obtain credit facilities under false pretences.
The charges also include money laundering, fraudulent false accounting, and failure to declare personal interest in transactions.
The EFCC alleged that the defendants forged documents, including loan applications and authorizations, to deceive First Bank into disbursing funds to entities such as V-Tech Dynamic Links Limited, Stallion Nigeria Limited, and Honeywell Flour Mills Plc.
The arraignment will take place before Justice Chukwujekwu Aneke.
The case, registered as FHC/L/20C/2025, accuses the defendants of violating provisions of the Advance Fee Fraud and Other Fraud-Related Offences Act, the Money Laundering (Prohibition) Act, and the Banks and Other Financial Institutions Act.
Some of the charges highlight the transfer of billions of naira to various accounts under false pretences, the retention of funds deemed proceeds of unlawful activities, and the forging of documents to mislead the bank.
If found guilty, the defendants face severe penalties under the applicable laws.
All rights reserved. The content on this website, including text and other digital materials, may not be reproduced, published, broadcast, rewritten, or redistributed, in whole or in part, without the express written consent of THE NEWS ACCELERATOR NETWORK.
For advertising inquiries, news coverage, or press releases, please contact us at thenewsacceleratornetwork@gmail.com or call 08144048512, 08051017159.
إرسال تعليق