Alleged N12.3bn Fraud: Otudeko, Onasanya, Others’ Absence Stall Arraignment

The Chairman of Honeywell Group, Oba Otudeko, and the former Managing Director of First Bank, Olabisi Onasanya, were absent at the Federal High Court, Lagos on Monday for their arraignment on a 13-count charge of allegedly obtaining the sum of N12. 3bn from First Bank.

The duo were however represented by counsel in court. The counsel to Oba Otudeko, Bode Olanipekun (SAN) told Justice Chukwuejekwu Aneke that he was appearing in protest as the charge had not been served on his client and the other defendants in the case.

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Apart from the former Managing Director of First Bank, Olabisi Onasanya, the other defendants are a former member of the board of directors of Honeywell Flour Mills Plc, Soji Akintayo, and a company linked to Otudeko, named Anchorage Leisure Ltd.

Source: Channels TV