Judge strikes out fraud case against Otudeko, Onasanya, others after EFCC withdrew charges

The judge dismissed the case on Wednesday after EFCC dropped the 13-count charge brought against the  defendants. 

By Kehinde Okeowo

The Economic and Financial Crimes Commission (EFCC) has withdrawn the fraud charges brought against the former chairman of First Bank of Nigeria, (FBN), Oba Otudeko, ex-First Bank MD, Bisi Onasanya, former Honeywell board member, Soji Akintayo, and Anchorage Leisure Ltd.

Subsequently, a Federal High Court in Lagos dismissed the 13-count charge brought against them by the anti-graft agency.

‎EFCC had earlier accused the defendants of fraudulently obtaining N12.3 billion, N5.2 billion, N6.2 billion, N6.1 billion, and N1.5 billion from First Bank under the guise that the funds were secured by various companies.

However, after counsel to the commission, Rotimi Oyedepo (SAN), withdrew the case on Wednesday, ‎‎Justice Chukwujekwu Aneke struck out the charges.

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According to ‎‎the senior advocate, the EFCC and the Attorney general of the Federation, who initially convened the settlement talks had decided to withdraw the charges, after a thorough review of the various allegations and various correspondence from the bank that the depositors’ funds which is the subject of the charge have been fully recovered and returned to its treasury.

‎“Upon thorough review of the allegations, and considering that the depositor funds involved in the charge have been fully recovered and returned to First Bank’s treasury, the AGF decided, under Section 180 of the ACJA, to withdraw the charge,” Oyedepo submitted.

‎‎Counsel for the first defendant, Bode Olanipekun (SAN), also confirmed that the funds in question, which were alleged to be loans, have been fully repaid.

‎‎Adeyinka Olumide-Fusika (SAN), representing the second defendant, informed the judge that they were invited to a meeting where it was clarified that the matter solely concerns the nominal complainant and the first defendant.

While ‎Kehinde Ogunwumiju (SAN), counsel for the third defendant, expressed agreement with the position taken by the second defendant, while Elija Akefe, representing the fourth defendant, stated he had no objection to the withdrawal of the charges.