Crime
Court strikes out N12.3bn fraud case against Otudeko after settlement
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“First Bank, the nominal complainant, has formally withdrawn its complaint.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He stated that a follow-up letter on July 21, 2025, reaffirmed the bank’s position and requested that the charge be withdrawn.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.
The Niger State Police Command has arrested a 10-man syndicate in Minna suspected of specialising in the international trafficking of unsuspecting victims, along with 36 undocumented youths of different nationalities.
According to the command’s spokesman, SP Wasiu Abiodun, the syndicate operated under false pretences as travel agents, engaging in the extortion of their victims.
Abiodun revealed that the suspects were arrested on July 18, 2025, at about 12:30 pm, following credible intelligence received about their activities along 123 Quarters, Minna.
Those arrested include Sokou Doumbia, Thiarno Balbe, Hashimu Dauda Kolo, Usman Doumbia, Musa Konate, Lamine Watara, Acine Diouf, Adamu Zarbu, Alhassan Konde and Dango Aminatu.
They were discovered to be nationals of various neighbouring West African countries and primarily spoke French, except for their Nigerian collaborator, Hashimu, who provided accommodation for the syndicate in Minna.
The operation led to the rescue of 36 undocumented youths from countries such as Senegal, Côte d’Ivoire, Mali, Burkina Faso and Guinea.
He disclosed that, during interrogation, they claimed to have come to Nigeria for an online business.
All the suspects and victims have been transferred to Interpol for further investigation and other necessary actions.
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The only female among the suspects said her only connection to the illegal miners was her proficiency in speaking Mandarin, a widely spoken language in China.
At least seven Chinese and four Nigerians have been arrested for alleged illegal mining of ilmenite in Akwa Ibom state.
The suspects were arrested by men of the Economic and Financial Crimes Commission (EFCC).
Dele Oyewale, EFCC Head, Media and Publicity, said Monday, July 28, that Operatives of the Uyo Zonal Directorate of the anti-graft agency apprehended the suspects on Thursday last week, July 24, at Emem-Asuk, Eastern Obolo Local Government Area (LGA) of the State.
Oyewale said, “The Chinese suspects are Yang Chaobao, 32, Zhong Dun Yi , 33, Cheng Jiang , 35, Zhong Dun Long , 37, Pan Peiming , 33, Lai Yiping, 37 and Zhu Lekun, 35.
“Their Nigerian accomplices are: David Israel, 18, Jonah Bartholomew Jim , 24, Samuel Samuel Timothy, 20, and a female translator named Comfort Gabriel Ajaga , 23.
“They are operating in the Eastern Obolo area, where they were arrested whilst setting up mining equipment at a second location. They were already engaged in the illegal activities at their first location, mining ilmenite, locally called black sand.”
The only female among the suspects said her only connection to the illegal miners was her proficiency in speaking Mandarin, a widely spoken language in China.
“I am a student studying Chinese language at a Learning Centre in Anambra State and I only work with them as a translator,” she said.
“The suspects will be charged to court upon conclusion of investigation,” Oyewale disclosed.
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The suspect allegedly sold one of the stolen televisions for N40,000.
A 22-year-old carpenter, Auwal Mohammed has been arrested for stealing.
Men of the Bauchi State Police Command arrested Mohammed for allegedly stealing four brand new plasma televisions from his client’s house.
The spokesperson of the command, CSP Ahmed Mohammed Wakil, who disclosed this in a statement on Monday, July 28, 2025 said the suspect allegedly sold one of the stolen televisions for N40,000.
“On July 26, 2025, at about 16:00 hours, the Bauchi State Police Command apprehended Auwal Mohammed, a 22-year-old carpenter residing in the Sabon Railway area of Bauchi metropolis, in connection with the theft of four 43-inch plasma televisions,” the statement read.
“Auwal Mohammed, who was working as a carpenter at the residence of an unidentified individual, allegedly discovered the new televisions in one of the rooms of the premises.
“It is reported that he subsequently relocated the televisions to a concealed area within the house, where they remained for around two weeks. Following this period, he is said to have taken the televisions to the residence of a neighbor for safekeeping and received a sum of N50,000 as credit.
“Further investigation has indicated that the suspect later sold one of the stolen 43-inch televisions to an individual known to deal in stolen goods for N40,000. Efforts are currently being made to apprehend his accomplice and recover the stolen property.
“The investigation is ongoing, and upon its conclusion, Auwal Mohammed will be formally profiled and charged to court of law.”
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