Family sources: Otudeko did not flee — he went on medical trip

Family sources say Oba Otudeko, the former chairman of the First Bank of Nigeria (FBN), did not run away from Nigeria.

TheCable was informed that Otudeko left the country on a medical trip.

Although the family sources said he did not leave Nigeria through land borders, they were silent on the airport through which the octogenarian exited the country.

TheCable had earlier reported how the businessman left the country on Thursday evening after a family member dropped him off at the Nigeria-Benin border.

Otudeko faces imminent arraignment by the Economic and Financial Crimes Commission (EFCC) on a 13-count charge of alleged fraud.

“As an elderly citizen, Dr. Oba Otudeko prioritises his health above all. He is routinely out of the country to access health care and attend to other personal matters. This is not a recent development as Oba Otudeko has divided his time between his abodes in Nigeria and the UK for the last four decades,” the family source said.

“This trip is in line with his usual travel plans and was not a surprise.”

The family asked the public to respect Otudeko’s privacy, saying he does not need to share his long-term itinerary with third parties without cause.

The family said Otudeko remains committed to fully addressing all matters “appropriately and transparently if and when necessary”.

The EFCC has filed charges against Otudeko and three others at the federal high court in Lagos for allegedly obtaining a N30 billion loan under false pretences. The anti-graft agency said the defendants would be arraigned on Monday.

The three other defendants are Stephen Olabisi Onasanya, a former group managing director of FBN; Soji Akintayo, an ex-board member of Honeywell Flour Mills plc; and Anchorage Limited, a company linked to Otudeko.

In the charge sheet seen by TheCable, the EFCC accused Otudeko and the other defendants of obtaining tranches of loans—N12.3 billion, N5.2 billion, N6.2 billion, N6.1 billion, and N1.5 billion—from First Bank under the pretence that the funds were obtained by some firms.

The anti-graft agency said the credit facilities were obtained between 2013 and 2014.

Otudeko, however, refuted the allegations against him, saying he would defend his reputation.