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Court strikes out N12.3bn fraud case against Otudeko after settlement

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The Federal High Court in Lagos has struck out the N12.3bn fraud charge filed by the Economic and Financial Crimes Commission against the Chairman of Honeywell Group, Dr. Oba Otudeko, and three others, after the anti-graft agency formally withdrew the case on Wednesday.

The EFCC had in suit No. FHC/L/20C/2025, filed 13-count charges against Otudeko, former First Bank Managing Director Olabisi Onasanya, former Honeywell board member Soji Akintayo, and Anchorage Leisure Limited.

The defendants were accused of conspiring to fraudulently obtain N12.3bn from First Bank of Nigeria under the guise of credit facilities for V-TECH Dynamic Links Ltd. and Stallion Nigeria Ltd.

At Wednesday’s proceedings, EFCC counsel, Rotimi Oyedepo, told Justice Chukwujekwu Aneke
that the matter had been amicably resolved between the nominal complainant, First Bank, and the first defendant, Otudeko.

Oyedepo said, “The parties have reached a full and final settlement.

“First Bank, the nominal complainant, has formally withdrawn its complaint. The funds at the heart of the matter have been fully repaid, and there is no further interest in pursuing the charge.

“In the interest of justice and to prevent abuse of the court process, the Attorney General of the Federation, having reviewed the facts and the full recovery of the disputed funds, decided to discontinue the prosecution.”

According to Oyedepo, following applications for settlement by the defence, the AGF convened a meeting involving all stakeholders.

This led to a formal resolution communicated via a July 16, 2025, letter from First Bank and another from Otudeko’s counsel confirming the settlement.

He stated that a follow-up letter on July 21, 2025, reaffirmed the bank’s position and requested that the charge be withdrawn.

Otudeko’s counsel, Bode Olanipekun, informed the court that “all issues leading to the institution of this charge have been completely resolved.”

Other defence lawyers Adeyinka Olumide-Fusika, SAN (for Onasanya), Tunde Afe Babalola (for Akintayo), and Dr. Charles Adeogun-Phillips (for Anchorage Leisure Ltd.) confirmed the amicable settlement.

After hearing the submissions, Justice Aneke ruled, “In view of the application by the prosecution and the confirmation by the defence, this case is hereby struck out.”

In a statement following the court’s ruling, signed by its General Counsel, Olasumbo Abolaji, welcomed the development, describing it as a reaffirmation of Dr. Otudeko’s integrity.

Abolaji said, “Honeywell Group confirms that the legal proceedings initiated by the EFCC against our Chairman, Dr. Oba Otudeko, CFR, in connection with matters relating to First Holdco Plc, have been formally withdrawn.

“This development marks the closure of a chapter that, while challenging, never diminished our confidence in Dr. Otudeko’s integrity or our belief in the principles that have guided his life and leadership.

“At no point was there any finding or admission of wrongdoing, and this conclusion further affirms what we have always maintained that this was a commercial transaction, investigated by the EFCC and resolved eight years ago.

“Dr. Otudeko’s service, enterprise, and nation-building record stand firm and unblemished. For over six decades, he has contributed significantly to Nigeria’s economic and institutional development, including distinguished tenures across banking, industry, and public service. His leadership of First Bank was marked by stability, stewardship, and strategic vision.”

The group reaffirmed its commitment to creating value through enterprise in food, energy, infrastructure, and financial services.

“As we move forward, we do so strengthened by experience, focused on the future, and anchored in the enduring values that have always shaped our journey,” the statement added.

 

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Crime

Police detain officer for firing at moving car in Delta

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A police officer who was filmed shooting at the tyre of a moving vehicle in front of Toscana Hotel along Okpanam Road, Asaba, Delta State, has been identified and detained by the authorities.

The incident, which occurred on Tuesday night, sparked outrage after the video surfaced on social media. The video showed the officer firing towards the car as it attempted to drive off.

The act has been widely condemned as reckless and a violation of the rules of engagement on firearm usage in public spaces.

Reacting to the incident in a post on X on Wednesday, the Police Public Relations Officer for the Delta State Command, SP Bright Edafe, described the officer’s conduct as “embarrassing, shameful, careless, unprofessional, and unjustified.”

Edafe wrote, “In all honesty, this is embarrassing, shameful, careless, so unprofessional and not justified at all. The Policeman has been identified, detained and will appear before the CP today.”

No casualty was reported as of the time of filing this report.

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Hit-and-run driver kills Lagos director days before retirement

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A director with the Lagos State Government, Serifat Talabi, died four days before her retirement from civil service and at her 60th birthday party.

That the woman was knocked down by a hit-and-run driver on Saturday.

Our correspondent gathered that the incident happened when Talabi was crossing the Lagos-Ibadan Expressway near the Redemption Camp in Ogun State.

A source in the state civil service, who pleaded anonymity because he was not authorised, told our correspondent on Tuesday that Talabi was the Director of Procurement at the Lagos State Resident Registration Agency.

“She was knocked down by a hit-and-run driver while trying to cross the expressway around the Redemption Camp. Efforts were made to take her to the hospital, where she was confirmed dead,” the source disclosed.

Another source in the agency disclosed that Talabi was supposed to retire on Monday, October 13, but the retirement event was postponed to Wednesday, October 22, to allow the agency’s General Manager to attend.

The source added that she had printed a card inviting her co-workers, relatives, and friends to the event, which also marked her birthday.

“She was supposed to retire on October 13, but because the General Manager was not around, she then shifted the date to October 22 so he could attend. Invitations had already been printed and sent to colleagues, friends, and family before the unfortunate incident.”

An invitation card sighted by PUNCH Metro indicated that the event was billed to hold at the NERDC Conference Centre, NERDC Road, Ikeja, adjacent to the Fela Shrine.

Meanwhile, The Eagle Online reports that Talabi’s burial arrangements have been announced by her family.

According to information gleaned from a WhatsApp group by the news platform, the wake will be held on October 23, 2025, with the burial service scheduled for October 24, 2025.

Both events will take place at 10, Ore-Ofe Street, Ara Hall Bus Stop, Ibafo, Ogun State.

The spokesperson for LASSRA, Basirat Lawal, did not respond to calls made to her telephone line on Tuesday. A text message sent to her had yet to be replied to as of the time this report was filed.

Similar efforts to reach the Ogun State Police Public Relations Officer, Omolola Odutola, were futile as she did not pick up calls made to her telephone line. She had yet to reply to a text message sent to her as of the time of filing this report.

Talabi’s death adds to the growing list of pedestrians killed by hit-and-run drivers along the Lagos–Ibadan Expressway and other major highways linking Lagos and Ogun states.

PUNCH Metro reported in August that a motorcyclist and his passenger lost their lives along the Ago-Iwoye/Ilisan Expressway in the Ijebu area of Ogun State after a truck rammed into their motorcycle from behind and fled the scene.

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PHOTOS: Nigerian mom arrested for murd£r after 9-year-old daughter d!es in hot car in US

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A Nigerian mother has been charged with murd£r after her 9-year-old daughter d!ed in a hot car in Texas, US.

Gbemisola Akayinode, 36, was arrested on Friday for the murd£r of 9-year-old Oluwasikemi Akayinode after the girl’s de@th was ruled a homicide as a result of hyperthermia (heat stroke), according to Harris County Sheriff Ed Gonzalez.

Oluwasikemi died on July 1 after she was left in a car for over eight hours on a 99-degree day while her mother went to work at a manufacturing plant in Galena Park near Houston, according to court documents.

When Gbemisola Akayinode parked at work at about 5:45 a.m., she said she left her daughter with food, a rechargeable fan, ice cubes and water, and lowered the car’s back windows down halfway, court documents said. She gave her daughter melatonin and saw her start to fall asleep in the back seat, according to court documents.Nigerian fashion brands

Gbemisola Akayinode said she didn’t check on Oluwasikemi until her shift ended at 1:53 p.m., documents said. When Gbemisola Akayinode reached the car, she said her daughter was unresponsive and blue, and she screamed for help.

Gbemisola Akayinode said she had taken Oluwasikemi to work with her several times previously, including the day before, court documents said. She said she brought her daughter with her because she didn’t have money for day care until her next paycheck, but investigators determined the foreman at her job was paying for day care for her, court documents said.

Officials said in July that they were waiting for the 9-year-old’s autopsy results before deciding if any charges would be filed.

Gbemisola Akayinode is due in court next week.

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