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N12.3bn fraud: EFCC to arraign Otudeko, ex-First Bank MD Monday

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The Federal High Court in Lagos on Thursday fixed January 20, 2025, for the Economic and Financial Crimes Commission to arraign the Chairman of Honeywell Group, Chief Oba Otudeko, and a former First Bank Managing Director, Stephen Onasanya, for allegedly looting N12.3bn from First Bank.

Otudeko, a former Chairman of First Bank of Nigeria Holdings, and Onasanya are to be arraigned alongside a former board member of Honeywell, Soji Akintayo, and a firm, Anchorage Leisure Limited, allegedly connected to Otudeko.

According to EFCC, the four defendants allegedly committed fraud in tranches of N5.2bn, N6.2bn, N6.150bn, N1.5bn and N500m, between 2013 and 2014 in Lagos.

In the 13 counts, filed by EFCC counsel, Mrs Bilikisu Buhari, on January 16, 2025, EFCC further claimed that the defendants made and uttered and forged documents to deceive the bank.

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Otudeko, Onasanya, Akintayo and Anchorage will be brought before Justice Chukwujekwu Aneke, to whom the case, registered as FHC/L/20C/2025, has been assigned.

In count one, the EFCC accused the defendants of conspiring to obtain the sum of N12.3bn from First Bank Limited on the pretence that the said sum represented credit facilities applied for by Tech Dynamic Links Limited and Stallion Nigeria Limited, a representation they knew was false.

The commission also alleged that on or about November 26, 2013, in Lagos, the defendants obtained the sum of N5.2 bn from First Bank on the pretence that the said sum represented credit facilities applied for by V Tech Dynamic Links Limited, a representation they knew was false.

The anti-graft agency claimed that the defendants, between 2013 and 2014 in Lagos, obtained N6.2bn from First Bank Limited on the pretence that the said sum represented credit facilities applied for and disbursed to Stallion Nigeria Limited, a representation they knew was false.

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In the fourth count, they were accused of conspiring to spend the N6.15bn out of the funds.

According to the commission, the offences contravened Section 8(a) of Advance Fee Fraud and Other Fraud Related Offences Act 2006 and are punishable under Section 1(3) of the same Act.

In counts five and six, the EFCC said on or about December, 11, 2013, in Lagos, the four defendants procured Honeywell Flour Mills Plc to retain the sum of N1.5bn, which sum they reasonably ought to have known forms part of proceeds of their unlawful activities to obtaining by false pretense, an offence

contrary to Section 18(c), 15 (2) (d) of the Money Laundering (Prohibition) Act, 2011 (as amended) and punishable under Section 15(3) of the same Act.

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Chief Oba Otudeko, Stephen Olabisi Onasanya, Soji Akintayo, and Anchorage Leisure Limited were said to have on or about December, 17, 2013 in Lagos, converted to the use of Honeywell Flour Mills Plc the sum of N500m, which sum you reasonably ought to have known forms part of proceeds of your unlawful activities to obtaining by false pretence, an offence contrary to Section 15(2 (b)) of the Money Laundering (Prohibition) Act, 2011 (as amended) and punishable under Section 15(3) of the same Act.

In count eight, they were alleged to have on or about September 3, 2013, in Lagos conspired amongst themselves to commit an offence by uttering a forged document – titled “Letter of Application” with the intent that it may be used by the First Bank in the belief that the said document was genuine and emanated from V-Tech Links Dynamic Limited, an offence contrary to Section 3(6) of the miscellaneous offences Act, Cap M17 Laws of the Federation of Nigeria 2004 and punishable under Section 1(2)(c) of same Act.

The EFCC said on September 3, 2013, the defendants conspired amongst themselves and made a false document titled “Authorisation to issue Investment Certificate to First Bank with the intent that it may be used by First Bank in the belief that the said document is genuine and emanated from V-Tech Links Dynamic Limited, and you thereby committed an offence contrary to Section 3(6) of the miscellaneous offences Act, Cap M17 Laws of the Federation of Nigeria 2004 and punishable under Section 1(2)(c) of same Act.

The commission also alleged that on or about October 31, 2014, in Lagos, the first to third defendants procured Abiodun Olatunji and Raymond Eze to transfer the sum of N6,200,000,000 to Stallion Nigeria Limited’s account number “2015708429” domiciled with First Bank, which sum they “reasonably ought to have known formed part of the proceeds of unlawful activities to wit: Fraudulent False Accounting and you thereby committed an offence contrary to Sections 18 (c) and 15(2 (b) of the money laundering (Prohibition) Act, 2011 (as amended) and punishable under Section 15(3) of the same Act.”

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In count 12, the EFCC said that on or about December 11, 2013, in Lagos, the first and second defendants procured Abiodun Olatunji and Raymond Eze to transfer the sum of N2, 090, 000,000 from Stallion Nigeria Limited’s account number “2015708429” domiciled with First Bank, to Emmerado Logistics Limited’s account number “0688985010” domiciled with First City Monument Bank, “which sum you reasonably ought to have known formed part of the proceeds of unlawful activities to commit fraudulent false accounting an offence contrary to Sections 18 (c) and 15(2 (b) of the Money Laundering (Prohibition) Act, 2011 (as amended) and punishable under Section 15(3) of the same Act.

The EFCC said Oba Otudeko, on or about September 3, 2013, in Lagos, whilst being the Chairman of First Bank Plc, indirectly had personal interest in a loan facility sought for by V Tech Dynamics Links Limited in the sum of N6,150,000,000.00, “which interest was not declared to the bank, an offence contrary to Section 18(1) Banks and other financial institutions Act 2004 and punishable under Section 18(2) of same Act.”

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SAD! Nigerian Dies In South African Police Custody

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The Nigerian Citizens Association in South Africa (NICASA), has condemned the alleged brutal killing of a 50-year-old Nigerian citizen, Jeremiah Okoye, by the country’s police, while in their custody.

Okoye, a native of Eziniffite Nnewi, in Anambra was said to have died while being detained in Limpopo Province, on Jan. 13.

NICASA President-General, Dr Frank Onyekwelu, in a telephone interview with the News Agency of Nigeria (NAN) on Friday, said investigations were ongoing to unravel the circumstances surrounding the deceased’s death.

“We implore the police authorities to follow the rule of law in discharging their constitutional duties,” he said.

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Onyekwelu said that Okoye, who resided at No. 71, Magazyn Street, Polokwane, Limpopo Province, had lived in the country for 22 years.

He said NICASA had officially informed the Nigerian High Commission and Consulate in South Africa, as well as contacted the Okoye family and friends in Limpopo, following the sad incident.

“Nigerian citizens in South Africa say no to police brutality and killings and demand justice for the late Okoye.

“Our lives matter, nationality is not criminality.

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“We implore all our citizens to be law-abiding and allow the authorities to utilise all their resources, to unravel the circumstances surrounding the death of Okoye,” he said.

Onyekwelu expressed hope that Okoye’s death would not become another statistic like others before him.

“The death of Nigerians in South Africa, particularly under police custody has become a recurring issue that needs to be stopped.

“We fear that these recurring deaths of Nigerians in police custody, if unchecked, will become a dangerous pattern. May his soul rest in perfect peace,” he added.

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Donald Trump’s inauguration moved indoors

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President-elect Donald Trump’s inaugural address on 20 January will take place indoors due to dangerously cold weather being forecast next week in Washington, he has confirmed.

The address, as well as other speeches, will now take place inside the US Capitol’s rotunda, rather than outside the building.

The inaugural parade will also be held indoors at Washington’s Capitol One Arena, along with all three inaugural balls.

The last president to be sworn-in indoors was Ronald Reagan in 1985, when cold weather also plagued the US Capitol.

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How my 34-Yr-Old graduate son took his own life after NYSC Service Year – Mother

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A 34-Year-Old Graduate who recently participated in the Passing-out-Parade of the National Youth Service Corps, Bryant Michael Ogah, in the Chikun Local Government Area of Kaduna State has reportedly killed himself in a hotel in the area after taking a harmful substance suspected to be snipper.

It was gathered that Bryant, who recently concluded his NYSC program, was suspected to be having some mental challenges before his death and had battled the health issue for almost 12 years.

Speaking Punch on the matter, the mother of the deceased who simply identified herself as Mrs Ogah, lamented that her son took his own life despite several efforts by the family to make him feel comfortable amid his health challenges.

She explained that Bryant being the first son and first child of the family had always wished to contribute to the family’s upkeep and growth, but his unstable mental health issues were a major challenge for him to achieve his dreams and aspirations.

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Mrs Ogah further told our correspondent that “his (Bryant’s) sudden decision to commit suicide was because he was tired of his health condition, and also because he could not support the members of his family due to his health condition.”

She added, “It was the mental health issue that affected him. He took poison and killed himself. He was tired of the situation. He could not help himself. He could not help anybody. So he felt there was no need to continue living.

“But as a family, we kept encouraging him to be strong. We told him that despite his health issues, he should stay with us because we are not complaining about his challenges. We also told him that even though he does not take care of us, seeing him alive gives us joy.”

Narrating further on how Bryant took his life, his mother said, “On December 23, 2024, her late son approached the family that he would be going to visit his friend who is resident in another community in the LGA.”

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She added, “We allowed him to go, not knowing that it was an excuse to enable him to execute his negative plans which ended his life.”

According to her, who was very emotional and in tears while speaking with the publication, pointed out that “he (the late Bryant) went to lodge in a hotel in the Television area of Kaduna South, where he drank a chemical which led to his untimely death.

“Due to the shame and embarrassment that his health condition caused him, it became a pain to him. He wanted to turn the family’s story around for good. But he later took his life as a result of the challenges that he was facing.

“On December 23rd, he woke up, took his bath, ate his breakfast, and after some time, he said he was going out to see his friend to rest, that he just needed a change of environment.

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“Instead of going to his friend’s place, he went to a hotel around a place called the Television Area in Kaduna South. He paid for a room and lodged into the hotel.

“After 24 hours that he was supposed to vacate the room, the hotel workers did not see him come out, so they went to knock on the door, but he was not responding.

“They forcefully opened the door and met him on the floor, even though he was still breathing.

“They immediately rushed him to the hospital where he died within a short time of when he was admitted into the hospital,” she added.

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When he was first contacted to speak on the issue, the Public Relations Officer of the Kaduna State Police Command, DSP Mansir Hassan, said he could not readily confirm the incident and implored the publication to call back, saying, “I will get back to you.”

However, when contacted a second time, DSP Mansir Hassan confirmed the sad incident, saying, “the command is investigating the matter.”

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