A Federal High Court in Lagos has adjourned a case involving Oba Otudeko, the Chairman of Honeywell Group, until May 8, 2025, for a report on settlement talks.
The case, which has attracted considerable attention, is centred on a 13-count charge filed by the Economic and Financial Crimes Commission (EFCC) against Otudeko, alongside a former Managing Director of First Bank Plc, Olabisi Onasanya, and other individuals.
The charges, which total N12.3 billion, also include allegations against Soji Akintayo, a former board member of Honeywell Group, and a firm, Anchorage Leisure Ltd.
The case is marked FHC/L/20C/2025, and its significance has been amplified by the involvement of high-profile business figures.
The matter was initially set for arraignment on January 20, but the defendants were absent, citing the claim that they had not been served with the charges.
At a subsequent hearing on February 13, defence counsels argued that the court should first address their preliminary objections before proceeding with the case.
Chief Wole Olanipekun (SAN), representing one of the defendants, cited numerous legal authorities to support the objections, while other defence counsels also made their arguments.
In response, the prosecutor, Mr Rotimi Oyedepo (SAN), presented his own legal authorities, advocating for the arraignment to take place without delay.
After considering the arguments, Justice Chukwujekwu Aneke delivered his ruling on March 17, 2025, emphasizing that under established legal principles, the plea of the defendants must be taken before any applications or objections can be considered.
The court relied on past decisions, including Onnoghen V FRN and Bello v FRN, to clarify that arraignment is a necessary step before any legal motions can be heard.
He ruled that preliminary objections related to the validity of the charges could only be addressed after the defendants had formally entered their pleas.
After the ruling, Chief Olanipekun expressed gratitude for the court’s decision and informed the judge that steps were being taken to resolve the matter amicably.
He explained that on March 12, 2025, counsel for all parties involved, including the prosecution, had convened a meeting under the auspices of the Attorney General (AG) of the Federation.
According to Olanipekun, the purpose of the meeting was to explore the possibility of reaching a peaceful resolution to the case.
Other defence counsels, including Messrs. Kehinde Ogunwumiju (SAN), Olumide Fusika (SAN), and Charles Adeosun-Phillips (SAN), also confirmed the ongoing settlement discussions.
They collectively urged the court to grant an adjournment to allow for the continuation of these talks, expressing their hope that the matter could be resolved without the need for further legal proceedings.
Despite the prosecutor’s request for the court to either proceed with the arraignment or grant an adjournment for a report on the case, the defence argued that an adjournment for the settlement report would be the best course of action.
They emphasized that allowing the parties to continue negotiating in good faith could lead to a resolution that would benefit all involved.
Ogunwumiju, in particular, reminded the court that the Attorney General had advised the parties not to file any further processes in the suit to foster the settlement discussions.
After considering all arguments, the court agreed to grant the adjournment, scheduling the next hearing for May 8, 2025, to receive an update on the status of the settlement talks.
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