Oba Otudeko Leaves Nigeria Ahead Of EFCC Arraignment

A former chairman of First Bank of Nigeria (FBN), Oba Otudeko, has reportedly left Nigeria ahead of his scheduled arraignment by the Economic and Financial Crimes Commission (EFCC) on fraud charges.

According to sources familiar with the matter, Otudeko exited the country via one of Nigeria’s land borders on Thursday evening. Security operatives disclosed that he was dropped off at the Nigeria-Benin border by a family member.

The development came just hours after the EFCC filed a 13-count charge against Otudeko and three others at the Federal High Court in Lagos. The anti-graft agency accused them of obtaining a N30 billion loan under false pretenses.

The other defendants in the case include Stephen Olabisi Onasanya, a former Group Managing Director of First Bank; Soji Akintayo, a former board member of Honeywell Flour Mills Plc; and Anchorage Limited, a company linked to Otudeko.

Sources indicated that the EFCC had scheduled the arraignment of the defendants for Monday. However, with Otudeko’s sudden departure, it remains unclear how the anti-graft agency will proceed with its case.

Efforts to reach the businessman or his representatives for comments were unsuccessful at the time of filing this report.