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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“First Bank, the nominal complainant, has formally withdrawn its complaint.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He stated that a follow-up letter on July 21, 2025, reaffirmed the bank’s position and requested that the charge be withdrawn.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

Gunmen invade ex-Ogun LG chairman’s residence

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An armed gang on Thursday morning invaded the residence of former Ijebu-Ode Local Government Chairman, Alhaji Emilola Gazal, carting away valuables, cash, and his vehicle.

Gazal, who is also the publisher of The Roots Magazine, confirmed the incident in a telephone interview with our correspondent.

“The three armed men broke into my residence at Ijebu-Ode GRA at about 2 a.m. They collected all the cash with me after which they forced me to open my bank apps on my phone and transfer everything there to an account they provided. They left only N5,000 in my account.

“They also made away with my wife’s trinkets and with my ash-colour car. They actually told me they would be going away with my car. I am just going to report the incident to the police at Igbeba and Obalende, Ijebu-Ode”, Gazal told our correspondent.

PUNCH Online reports that this incident comes amid a spate of violent robberies and home invasions reported across Ogun State, particularly in the Ijebu area.

For example, earlier this year, the Ogun State Police Command killed a suspected armed robber in a gun duel along the Sagamu–Ijebu Ode Expressway.

The command, on September 12, 2025, also recently arrested a man linked to a burglary and armed robbery in Ayetoro, amounting to about N1.5 million in stolen goods.

Meanwhile, the regional security network, Amotekun Corps, has in past operations engaged criminal gangs in shootouts, neutralising suspects in Ogun’s border zones.

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Crime

How my father got me trafficked with fake job at Baghdad supermarket — Victim

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Following a six-hour raid by the National Agency for the Prohibition of Trafficking in Persons (NAPTIP) at the Nnamdi Azikiwe International Airport, Abuja, which led to the rescue of 24 suspected victims of human trafficking, one of the victims has vowed to sue her father for deceiving her into being trafficked.

The victim claimed that she was told by her father that his friend had a job for her at a supermarket in Baghdad, and was totally convinced she was going to better her life until her rescue by NAPTIP.

“My father told me that his friend has a job for me at a supermarket in Baghdad. He did not tell me that it is in Iraq.

“I know that Iraq is not a good place to work for now due to the crisis there, but I did not know that Baghdad is in Iraq. I thank the DG and her officers for rescuing me,” the victim said.

Director-General of NAPTIP, Binta Bello, who led a high-powered special operation team to the airport following a tip-off, revealed that among the suspected human traffickers arrested was a retired senior uniformed officer with one of the foremost law enforcement agencies in Nigeria, who is alleged to be a prominent member of the trafficking syndicate operating within the South West region of Nigeria.

In a statement by the National Press Officer of the agency on Wednesday, Bello said: “We observed that the Nnamdi Azikiwe International Airport is becoming a comfort zone for these traffickers, and that is why we have decided to shift attention to this airport.

“We will sustain this raid until they stop this unpatriotic and illicit trade in human beings.”

Expressing confidence in her team following the operation, she said: “We were able to arrest five suspected members of the trafficking gang who have been recruiting and trafficking our citizens to various tension-soaked countries, especially in the Middle East, for exploitation,” the DG said.

Bello explained that the victims, whose ages range between 15 and 26 years, were recruited from Kano, Katsina, Oyo, Ondo, and Rivers States, and were heading to Iraq, Sudan, Egypt, Saudi Arabia, Bahrain, and Afghanistan.

The DG pointed out that a good number of the victims could not communicate in any other language apart from their local dialect, and most did not even know the location of their intended country of destination.

“They told my mother that they were taking me to Europe, where I would work and earn dollars. My parents were happy and they allowed me to follow them,” another victim narrated after the DG explained, with facts, what awaited them at their final destinations after being successfully trafficked.

Speaking further on the development, Bello expressed sadness over the activities of suspected human traffickers and unregistered labour recruiters, who have continued to deceive, recruit, and traffic Nigerians for various forms of exploitation.

“I was amazed that a father, who is a retired law enforcement officer of senior cadre, deceived his daughter and packaged her to be trafficked to Iraq for exploitation.

“This is incredibly unbelievable. All of them will be thoroughly investigated, and they will face the law.”

The NAPTIP boss commended the support of sister agencies at the airport, including the Director-General of the Federal Airport Authority of Nigeria (FAAN) and the Nnamdi Azikiwe International Airport Manager, among others.

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Crime

Soldiers foil terrorists attack in Taraba, kill two suspects

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Troops of 6 Brigade Nigerian Army/ Sector 3, Operation Whirl Stroke, have successfully foiled a terrorist attack and neutralised two suspected terrorists in Taraba.

This is contained in a statement released on Wednesday by Lt. Umar Muhammad, Acting Assistant Director, Army Public Relations, 6 Brigade Nigerian Army, Jalingo.

“Acting on credible intelligence, troops on  October 1, 2025, advanced to Tor-Ikyeghgba village where bandits were reported to be converging.

“On arrival at the general area, the troops made contact with the terrorists along the powerline axis and immediately engaged them with superior firepower, resulting in the neutralisation of two.

“During the operation, the following items were recovered; one locally fabricated pistol, two dane guns, three rounds of 7.62 mm special ammunition, one Baofeng radio, one motorcycle and other items,” it stated.

He quoted Brig. Gen. Kingsley Uwa, Commander of the brigade, commended the troops for their swift response, resilience, and professionalism.

Muhammad also quoted the Commander, as urging the troops to maintain the momentum,  assuring residents of the state that the brigade remained fully committed to ensuring their safety.

He therefore, called on members of the public to continue to support the ongoing operation ‘Lafiya na kowa’  by providing timely and credible information that would aid in the fight against criminality.

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