Otudeko: Court Adjourns For Conclusion Of Settlement Talks

Justice Chukwujekwu Aneke of the Federal High Court in Lagos on Thursday again adjourned a case involving businessman Chief Oba Otudeko and a former Managing Director of First Bank of Nigeria, Olabisi Onasanya, to June 11 to allow parties to conclude ongoing settlement talks.

Justice Aneke adjourned the trial after Otudeko’s counsel, Bode Olanipekun (SAN), told the court that the defendants and the Economic and Financial Crimes Commission (EFCC) have yet to negotiate an out-of-court settlement.

The EFCC Prosecutor, Mrs. Bilikisu Buhari-Bala, who confirmed the claim, urged the court to adjourn the case for either a report on the settlement or for arraignment.

Based on the development and no objection from other parties, the court adjourned the matter to June 11 for either a report on the settlement or arraignment.

LEADERSHIP recalls that on March 17 this year, Chief Wole Olanipekun had informed the judge that the Attorney General and Minister of Justice, Lateef Fagbemi, had convened a meeting to bring all counsel together to seek a peaceful resolution to the case.

The anti-graft court has filed a 13-count charge against Otudeko, former Managing Director of First Bank Plc, Olabisi Onasanya, former board member of Honeywell, Soji Akintayo, and a company, Anchorage Leisure Ltd.

The EFCC alleged in the charge that the defendants committed fraud in multiple transactions totalling N5.2 billion, N6.2 billion, N6.15 billion, N1.5 billion, and N500 million between 2013 and 2014 in Lagos.

In the charge marked FHC/L/20C/2025 dated January 16, 2025, the Commission also alleged that the defendants created and used forged documents to deceive the bank.

However, the defendants have not entered their pleas because Otudeko has not appeared before the court since the matter started on January 20.

His lawyer claimed that the businessman is abroad on health grounds.