Alleged N12.3bn Fraud: EFFC To Arraign Oba Otudeko, Onasanya, Two Others

The Economic and Financial Crimes Commission (EFCC) has announced that it will arraign four individuals, including Chief Oba Otudeko, the Chairman of Honeywell Group, and Stephen Olabisi Onasanya, a former Managing Director of First Bank, over an alleged N12.3 billion fraud.

The other two individuals to be arraigned are Soji Akintayo, a former board member of Honeywell, and Anchorage Leisure Limited, a firm connected to Otudeko. The four will face a 13-count charge, including conspiracy, obtaining by false pretense, and money laundering.

According to the EFCC, the alleged fraud was committed in tranches of N5.2 billion, N6.2 billion, N6.150 billion, N1.5 billion, and N500 million between 2013 and 2014 in Lagos. The commission alleges that the four individuals conspired to defraud the Federal Government of Nigeria and First Bank of Nigeria Limited of the said amount.

The arraignment is scheduled to take place on Monday, January 20, 2025, at the Federal High Court in Lagos. The EFCC has been investigating the alleged fraud for several years and has gathered evidence to prove the case against the four individuals.

The alleged fraud is said to have been perpetrated through a series of complex transactions involving Honeywell Group, First Bank, and other companies. The EFCC alleges that the four individuals used their positions to siphon funds from the companies and launder them through various means.

The arraignment of Oba Otudeko, Onasanya, Akintayo, and Anchorage Leisure Limited is a significant development in the EFCC's efforts to combat corruption and financial crimes in Nigeria. The commission has been working tirelessly to investigate and prosecute cases of corruption and financial crimes, and this arraignment is a testament to its commitment to justice.

The case is expected to be closely watched by the public and the business community, as it involves high-profile individuals and companies. The outcome of the case will have significant implications for the fight against corruption and financial crimes in Nigeria.

In a statement, the EFCC said that it is committed to ensuring that those who engage in corrupt practices are brought to justice. "The EFCC will continue to work tirelessly to investigate and prosecute cases of corruption and financial crimes, and to recover stolen assets," the statement said.

The arraignment of Oba Otudeko, Onasanya, Akintayo, and Anchorage Leisure Limited is a reminder that corruption and financial crimes will not be tolerated in Nigeria. The EFCC's efforts to combat these crimes are crucial to the country's economic development and stability.

https://www.channelstv.com/2025/01/16/alleged-n12-3bn-fraud-effc-to-arraign-oba-otudeko-onasanya-two-others/