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EFCC to Arraign Oba Otudeko, Onasanya, Others for Alleged N12.3bn Fraud

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The Economic and Financial Crimes Commission (EFCC) has filed a 13-count criminal charge against the Chairman, Honeywell Group, Oba Otudeko and a former Managing Director of First Bank, Olabisi Onasanya for allegedly obtaining the sum of N12.3billion from First Bank.

They are to be arraigned on Monday, January 20, 2025, before Justice Chukwuejekwu Aneke of the Federal High Court, Lagos.

They will be arraigned alongside, a former member of the board of directors of Honeywell Flour Mills Plc, Soji Akintayo and a company linked to Otudeko, named Anchorage Leisure Ltd.

All four were listed as defendants in the suit filed by an EFCC prosecutor, Bilkisu Buhari-Bala on January 16, 2025.

According to the EFCC, the four committed the fraud in tranches of N5.2billion, N6.2billion, N6.150billion, N1.5billion and N500million, between 2013 and 2014 in Lagos.

In proof of the charge against the defendants, the EFCC intends to call representatives of First Bank including Cecelia Majekodunmi, Ola Michael Aderogba, Abiodun Olatunji, Raymond Eze, Abiodun Odunbola and Adeeyo David all of whom are expected to give evidence of the fraudulent misrepresentation of the Defendants and tender relevant documents.

The EFCC will also rely on the testimonies of representatives of Central Bank of Nigeria, representatives of Stallion Nigeria Limited and representatives of V-tech Dynamics Ltd.

Also included in the EFCC’s list of witnesses are one Farida Abubakar and Adaeze Nwakoby.

According to the Commission, the offences contravene Section 8(a) of Advance Fee Fraud and Other Fraud Related Offences Act 2006 and were punishable under Section 1 (3) of the same Act.

Count 1 of the charge says that Chief Oba Otudeko, Stephen Olabisi Onasanya, Soji Akintayo and Anchorage Leisure Limited between 2013 and 2014 in Lagos, within the jurisdiction of this Honourable Court conspired amongst  yourselves to obtain the sum of N12,300,000,000.00 (Twelve Billion, Three Hundred Million Naira Only),from First Bank Limited on the pretence that the said sum represented credit facilities applied * for by V- Tech Dynamic Links Limited and Stallion Nigeria Limited, which representation you know to be false, and you thereby committed an offence contrary to Section 8(a) of Advance Fee Fraud and other Fraud Related Offences Act 2006 and punishable under Section 1(3) of the same Act.

In Count 2, it was alleged that the defendants, on or about 26th day of November, 2013 in Lagos, “obtained the sum of N5.2 Billion from First Bank Limited on the pretence that the said sum represented credit facilities applied for by V Tech Dynamic Links Limited which representation you know to be false.”

The 3rd count claims that the defendants, between 2013 and 2014 in Lagos, obtained N6.2 Billion from First Bank Limited on the pretence that the said sum represented credit facilities applied for and disbursed to Stallion Nigeria Limited, which representation you know to be false.”

County 4 reads, that you, Chief Oba Otudeko, Stephen Olabisi Onasanya, Soji Akintayo and Anchorage Leisure Limited on or about 26th day of November 2013 in Lagos, within the jurisdiction of this Honourable Court conspired amongst yourselves to use the total sum of N6,150,000,000,.00 (Six Billion, One Hundred and Fifty Million Naira Only.), which sum you reasonably ought to have known forms part of proceeds of your unlawful activities to wit: Obtaining by False Pretence and you thereby committed an offence contrary to Sections 18(a), 15 (2) (d) of the Money Laundering (Prohibition) Act, 2011 (as amended) and punishable under Section 15(3) of the same Act.

Count 5 accuses Chief Oba Otudeko, Stephen Olabisi Onasanya, Soji Akintayo and Anchorage Leisure Limited on or about 11th day of December, 2013 in Lagos, procured Honeywell Flour Mills Plc to retain the sum of N1.5 billion, which sum you reasonably ought to have known forms part of proceeds of your unlawful activities to wit: Obtaining by False Pretence and you thereby committed an offence contrary to Section 18(c), 15 (2) (d) of the Money Laundering (Prohibition) Act, 2011 (as amended) and punishable under Section 15(3) of the same Act.

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Decomposing Body of Kidnapped Anambra Lawmaker Found on 2nd Niger Bridge

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The decomposing body of a member of the Anambra State House of Assembly, Justice Azuka, has been discovered on the 2nd Niger Bridge.

Azuka’s body was discovered by a combined team of security agencies.

The lawmaker representing Onitsha North Constituency 1 was kidnapped on December 24, 2024, along Ugwunabankpa Road, Inland Town, Onitsha.

After weeks of investigation, security operatives from Abuja apprehended the suspects late Wednesday. The arrested individuals later led authorities to the location where they had dumped the lawmaker’s remains.

Police authorities in Anambra State said details of the incident are sketchy.

However, the spokesman of the command, Tochukwu Ikenga, said police operatives have been deployed to the scene.

According to him, further details would be made known to the public in due time.

The incident marks the second kidnapping and murder of a sitting Anambra lawmaker in recent years.

In 2022, Okey Okoye, popularly known as “Okey Di Ok” from Aguata, was abducted and beheaded.

His body was later found around the Nnobi axis of the South-East state. The region has experienced a slew of violence in recent years. Gunmen have at various times attacked public facilities and killed scores of persons despite repeated assurances from government and security agencies.

The calls for secession have also reached new highs in the region in recent years. But no group has claimed responsibility for the wave of violence in the South-East.

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EFCC Boss Knocks Nigerians for Celebrating Corrupt Leaders

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Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has argued that Nigeria’s under-development would be a thing of the past if everyone begins to see corruption as a common enemy and tackle it.

He stated this on Friday when officials of the Centre for Crisis Communication (CCC) led by the Director of its Board of Trustees (BoT), Major General Chris Olukolade (rtd) paid him a courtesy visit at the EFCC corporate headquarters, Abuja.

He said: “One of the major problems in Nigeria which when tackled, will make under-development a thing of the past, is corruption and financial crimes. A society that is ready to move forward is a responsibility not only of the government, but of the citizens. This is what has actually led some of us to be very committed to this cause.

“We are ready to go the whole hog to do what we need to do within the confines and provisions of the law and the power that the Constitution has conferred on us. If everybody makes up his or her mind to do the right thing, we’ll move forward in this country.”

Olukoyede, who expressed delight at the proposal of the CCC delegation for collaboration and synergy in the areas of strategic communication and public engagement, re-emphasized that the work and successes of the EFCC run on the wheels of public engagement and advocacy.

“We thank you for proposing a synergy and collaboration with us to support the work we do. One of the strong pillars of our mandate is the issue of public engagement and public advocacy. We will partner with you in that respect. We have so many projects and programmes with respect to letting the public know what we’re doing and we are doing everything possible to ensure that we create awareness on the part of Nigerians with respect to the need for us to be careful and play by the rules.

“However, it is so unfortunate that the same people who approbate also reprobate at the same time. Everybody is crying that Nigerians are corrupt, that the system is corrupt; that corruption is killing us and destroying our system, but when we investigate high profile cases and arraign people in court, the same people will carry placards and be supporting corrupt leaders.

“It doesn’t show that we are serious about this fight. The fight is supposed to be a collaborative effort. No single agency can do it alone. It is practically impossible for us as EFCC to fight all the battles. The society has a role to play; policy has a role to play and the issue of welfare of the citizens has a role to play,” he said.

Speaking on the trajectory of his leadership, he disclosed that he has prioritized prevention over enforcement since coming on board.

“Now we are laying more emphasis on prevention which is a critical aspect of our mandate. We don’t have to always be waiting for money to be stolen before we start working in EFCC. To drive prevention, I established a new directorate called Fraud Risk Assessment and Control, FRAC and now we are doing more of blocking of the leakages. We have access to GIFMIS (government payment platform). We want to track and see where every money released is going.

“We want to ensure that every capital project is executed. With prevention, we discovered that there will be less to enforce. We are not dropping our mandate on enforcement. As a matter of fact, we are scaling it up. But we believe that it is important for us to prevent because it costs less to prevent than to react when the deed must have been done. So that is one of our areas of focus as of now.”

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Gunmen Abduct Abia Electoral Commission Chairman

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The Chairman of Abia State Independent Electoral Commission (ASIEC), Professor George Chima, has been abducted by gunmen.

A family source said Chima was abducted on Friday from his Okigwe residence in Imo State while hosting some lecturers from Abia State University, Uturu.

Spokesperson of the State Police Command, DSP Henry Okoye, confirmed the incident, adding that the police are on the trail of the hoodlums with the aim of rescuing the victim.

He said “Yes, we are aware of the kidnap of the Prof and we have commenced investigations.

“As I speak to you now, the Commissioner of Police, Aboki Danjuma, personally led the team of police operatives to Okigwe.

“The police are assuring all that we will catch the kidnappers,” Okoye said.

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