*OBA OTUDEKO
Justice Chukwujekwu Aneke of the Federal Court sitting in Lagos has adjourned ruling till March 17, 2025, to rule on various applications challenging its jurisdiction to hear a N12.3b, 13-count charge filed against Oba Otudeko, the former chairman of First Bank Nigeria (FBN), and three others over alleged fraud.
The ruling follows arguments heard from counsel representing the Economic and Financial Crimes Commission (EFCC) and the defendants.
This is coming as the second Defendant and former CEO of the First Bank Limited, Olabisi Onasanya told the court that he is ready to defend his integrity in the court of law, maintaining the controversial loan has been paid.
Onasanya is refuting allegations of fraud related to a commercial loan transaction at the bank during his time as the Group Managing Director.
Onasanya’s appearance aligns with the commitment made by his lawyer, Adeyinka Olumide-Fusika (SAN), when the matter first came up in court on January 20, 2025.
Another counsel for Onasanya, Olasupo Shashore (SAN), argued that although the former banker is determined to defend his innocence and clear his name, he aligns with the argument of Otudeko’s lawyers that the court should first hear the preliminary application challenging its jurisdiction before proceeding with the case.
“We filed a preliminary objection, but the EFCC has yet to reply. The loan, which is the subject of prosecution, has long been repaid since 2017, when the EFCC initially waded into the matter. There is clear evidence of repayment available. The continued pursuit of this case by the EFCC amounts to nothing but witch-hunting, intimidation, and harassment of the defendants. It is baffling why a matter that was resolved many years ago is suddenly being resurrected.”
At the proceedings, while Otudeko was absent from the court, Stephen Olabisi Onasanya, the former group managing director of FBN, and Soji Akintayo, a former board member of Honeywell Flour Mills PLC, were present.
Rotimi Oyedepo SAN appeared for the prosecution, while Chief Wole Olanipekun SAN, Oladipo Shasore SAN, Kehide Ogunwumiju, and Ade Adedeji SAN appeared for the 1st to 4th defendant. Also, Mr. Jide Koku SAN announced appearance for the compliant (First Bank).
Chief Olanipekun informed the court that Otudeko had filed an application, dated January 28, 2025, explaining his absence.
The application stated that Otudeko left Nigeria on January 16, 2025, for medical treatment in the United Kingdom, arriving at Heathrow Airport the next day. Olanipekun emphasized that Otudeko had left the country lawfully and did not abscond.
In response, Oyedepo reminded the court that the matter had been adjourned for the arraignment of the defendants, and the prosecution had followed the court’s directive to serve the defendants by substituted means.
Counsel for the 2nd, 3rd, and 4th defendants, including Ogunwumiju SAN, Adedeji SAN, and Shasore SAN, argued that the court should first hear their application challenging its jurisdiction before proceeding with the case.
Specifically, Ogunwumiju SAN, in his application dated February 10, 2025, requested the court to quash or decline jurisdiction over counts 1 to 10, alleging abuse of judicial process and a lack of prima facie evidence.
EFCC Prosecutor Oyedepo countered, stating that the allegations in the 13-count charge stemmed from a detailed investigation, revealing that the 1st and 2nd defendants colluded to defraud First Bank.
He asserted that the charge was filed in accordance with the provisions of the Administration of Criminal Justice Act, 2015, and there was no requirement for the prosecution to file an affidavit of investigation completion before filing charges.
Before the court adjourned the matter for ruling, Olumide -Fusika, representing Onasanya urged the court to allow his client to return home and appear in court on the next adjourned date, stating that Onasanya had complied with the earlier assurance by presenting himself before the court as a mark of respect for the judicial process. Justice Aneke granted the request, permitting Onasanya to go home and return for the next hearing on the adjourned date.
Following the submissions.of counsel, Justice Aneke adjourned till March 17 for ruling
