Court strikes out charges after full repayment, AGF orders withdrawal in interest of justice
In a dramatic courtroom development, the Federal High Court in Ikoyi, Lagos, on Monday struck out the ₦12.3 billion fraud charges filed by the Economic and Financial Crimes Commission (EFCC) against Honeywell Group Chairman, Dr Oba Otudeko; former Managing Director of First Bank, Olabisi Onasanya; and others.
Justice Chukwujekwu Aneke gave the ruling after the EFCC, represented by Senior Advocate of Nigeria, Rotimi Oyedepo, announced its decision to discontinue the case. According to Oyedepo, the move followed a full recovery of the disputed funds by First Bank, the nominal complainant in the matter. He disclosed that letters dated July 16 and 21 confirmed the resolution of the financial dispute and withdrawal of the complaint.
"The Honourable Attorney-General of the Federation, in the exercise of his powers under Section 174 of the Constitution and Section 107 of the Administration of Criminal Justice Act, 2015, has directed the withdrawal of the charges in the interest of justice and to prevent abuse of court process," Oyedepo told the court.
Lawyers representing the defendants, including Bode Olanipekun (SAN), Kehinde Ogunwumiju (SAN), and Adeyinka Olumide-Fusika (SAN), confirmed that the financial obligations had been met and raised no objections to the withdrawal.
Justice Aneke, after hearing the parties, struck out the 13-count charge filed against Otudeko, Onasanya, Soji Akintayo, and Anchorage Leisure Limited.
Reacting to the development, Olasumbo Abolaji, General Counsel of Honeywell Group, described the withdrawal of the case as “a welcome development which affirms Dr. Otudeko’s long-standing position that the allegations lacked merit.”
She further noted, “This case arose from a purely commercial dispute that was amicably resolved several years ago. We appreciate the professionalism of all parties involved in bringing closure to this matter.”
The EFCC had in October 2023 accused the defendants of conspiracy to obtain money under false pretence, forgery, and fraudulent use of documents to obtain a ₦12 billion credit facility from First Bank. With Monday’s ruling, the long-running saga has finally been laid to rest.