Justice Chukwujekwu Aneke of the Federal High Court in Lagos on Monday adjourned till May 8, 2025, for a report of settlement in an alleged N12.3bn fraud case against the Chairman of the Honeywell Group, Oba Otudeko, and three others.
The court fixed the date following an agreement by all parties to allow the Attorney General of the Federation and Minister of Justice, Lateef Fagbemi, (SAN), to mediate and facilitate an amicable resolution of the matter.
Otudeko, alongside a former Managing Director of First Bank Plc, Olabisi Onasanya, a former board member of Honeywell, Soji Akintayo, and a firm, Anchorage Leisure Ltd, in the charge marked FHC/L/20C/2025, are facing 13 counts bordering on obtaining under false pretences preferred against them by the Economic and Financial Crimes Commission.
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At the Monday proceedings, Otudeko’s lawyer, Chief Wole Olanipekun (SAN), informed the judge that parties were exploring an out-of-court settlement and had on March 12, 2025, met with the AGF.
According to him, substantial progress had been made and the AGF had directed all parties to refrain from actions that could jeopardise the resolution process, including filing further applications.
Olanipekun said another meeting with the AGF had been fixed for April 9, 2025.
Consequently, he urged the court to adjourn the case for a settlement report.
However, the EFCC prosecutor, Bilikisu Buhari, disagreed that the matter be adjourned solely for a report of settlement.
Buhari urged the judge to also note that the next hearing would be for the arraignment of the defendants.
In response, Olanipekun reaffirmed that the AGF was actively mediating a settlement and that it was important to hold actions in order not to jeopardise the settlement process.
However, other defence counsel — Adeyinka Olumide-Fusika (SAN), representing Onasanya; Kehinde Ogunwumiju (SAN), representing Akintayo; and Dr. Charles Adeogun-Philips (SAN), representing Anchorage Leisure Ltd — aligned with Olanipekun on the settlement talks.
After considering their submissions, Justice Aneke granted the request and adjourned the matter to May 8, 2025, for a report on the settlement progress.
Earlier in the proceedings, the judge overruled the defendants’ argument to hear their preliminary objection to the charges before their arraignment.
Justice Aneke held that under Section 396(2) of the Administration of Criminal Justice Act, the defendants must be arraigned before any applications challenging the court’s jurisdiction can be taken.
“It is now a settled principle of law that the plea of a defendant must first be taken before any other application.
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“The issue before the court is whether the processes before the court can be taken before the arraignment of the defendants.
“Any preliminary objection to the validity of a charge can only be heard after plea is taken; this is now a condition precedent and this court is bound by the decision.
“I agree with learned counsel for the prosecution, no preliminary objection can be taken without arraignment of the defendants,” the judge held.
In the charge marked FHC/L/20C/2025,the EFCC alleged that the defendants fraudulently obtained N12.3bn in tranches of N5.2bn, N6.2bn, N6.1bn, N1.5bn and N500m, between 2013 and 2014 in Lagos,
The anti-graft agency further alleged that the defendants made and uttered forged documents to deceive the bank.
The prosecution said they acted contrary to the provisions of Section 8(a) of Advance Fee Fraud and Other Fraud Related Offences Act 2006 and Section 15 (2), 15(3), and 18(c) of the Money Laundering (Prohibition) Act, 2011.
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