‘N30bn fraud’: Otudeko’s arraignment stalled over absence, non-service of court papers

The inability of the Economic and Financial Crimes Commission (EFCC) to serve court papers stalled the planned arraignment of Oba Otudeko, a former chairman of First Bank Nigeria (FBN), on Monday.

Last Thursday, the EFCC filed a 13-count charge against Otudeko, alongside other defendants Stephen Onasanya, former group managing director of FBN; Soji Akintayo, ex-board member of Honeywell Flour Mills plc; and Anchorage Limited, a company linked to Otudeko.

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.

In wake of his imminent arraignment, TheCable reported that Otudeko suddenly left Nigeria via one of the land borders.

According to security sources, he was dropped off at the Nigeria-Benin border on last Thursday evening by a family member.

Family sources later told TheCable that Otudeko did not run away from Nigeria but left the country on a medical trip.

MONDAY’S COURT PROCEEDINGS

On Monday, all defendants, including Otudeko, Onasanya, Akintayo, and Anchorage Limited, were absent from the court.

When the case was called, Bode Olanipekun, counsel to Otudeko, informed the court that his client had not yet been served with the charges filed by the anti-graft agency.

Olanipekun argued that despite the charges being widely reported in the media on January 17, it was unfair for the EFCC to release the charge sheets before formally serving the defendants.

Similarly, Olumide Fusika, counsel to Onasanya, expressed concern that his client had not been formally served or invited by the EFCC, criticising what he described as a media trial.

Fusika noted that Onasanya was surprised to find his name linked to the loan controversy.

“My Lord, it is concerning that my client has been unduly exposed to media trial without being formally served,” Fusika said.

“This is a procedural anomaly that undermines his right to a fair hearing and personal dignity.”

Kehinde Ogunwumiju, counsel to Akintayo and Adeogun Philips, counsel to Anchorage Limited, also told the court that their clients have not been served.

Responding, Rotimi Oyedepo, counsel to the EFCC, said the agency did not release any press statement on the charge sheets, adding that journalists could have obtained their information from “other means”.

Oyedepo explained that despite numerous attempts, the EFCC had been unable to serve the defendants, prompting a motion for substituted service at their last known addresses.

However, Fusika opposed the motion, insisting that his client had always been available and was ready to proceed with the case.

Fusika requested that the EFCC serve the charges and proof of evidence directly in court.

“This application is unwarranted and speculative. My client has neither avoided service nor absented himself from this matter,” the counsel said.

“The claims of the prosecution are baseless. Since I am here and my client is ready to go ahead with this case, I ask to be served the charge and the proof of evidence here in the court.”

Chukwujekwu Aneke, the trial judge, dismissed the motion for substituted service on Onasanya and ordered that the EFCC should serve the charges in open court.

The case was adjourned to February 13, 2025, for further proceedings.