Justice Chukwujekwu Aneke of the Federal High Court in Ikoyi, Lagos, on Thursday, May 8, 2025, adjourned proceedings in the N12.3bn fraud case involving the Chairman of Honeywell Group, Oba Otudeko, and three others, until June 11, 2025, for “a report on settlement and/or arraignment.”
Otudeko is to be arraigned alongside former First Bank Managing Director Olabisi Onasanya, former Honeywell board member Soji Akintayo, and Anchorage Leisure Limited.
The defendants face a 13-count charge filed by the Lagos Directorate 1 of the Economic and Financial Crimes Commission (EFCC), accusing them of obtaining money by false pretence amounting to N12.3bn
At the last adjourned sitting on March 17, 2025, Otudeko’s lawyer, Wole Olanipekun SAN, informed the court that a meeting involving all counsel had been convened at the instance of the Attorney General of the Federation, AGF, towards reaching a peaceful settlement of the matter.
“The next date for the meeting in the office of the AGF is slated for April 9, 2025. Pursuant to this development, we’ll be asking for a date after April 9, depending on the outcome of the meeting,” he said.
At the resumed sitting on Thursday, the first defence counsel, Bode Olanipekun SAN, informed the court that the parties were still negotiating a settlement and had not concluded talks regarding the settlement negotiations.
Responding, the prosecution counsel, Bilkisu Buhari-Bala, confirmed the position to the court and prayed that the case be adjourned for a report of settlement or an arraignment.
Justice Aneke adjourned the matter till June 11, 2025, for a report of settlement and/or arraignment.
