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The Federal Excessive Court docket in Lagos has mounted Monday, January 20, 2025, for the Financial and Monetary Crimes Fee (EFCC) to arraign the Chairman of Honeywell Group, Chief Oba Otudeko and a former First Financial institution Managing Director, Stephen Olabisi Onasanya, for allegedly looting N12.3billion from First Financial institution.
Otudeko – former Chairman of First Financial institution of Nigeria (FBN) Holdings – and Onasanya are to be arraigned alongside a former board member of Honeywell Soji Akintayo and a agency, Anchorage Leisure Restricted linked to Otudeko.
In keeping with the EFCC, the 4 dedicated the fraud in tranches of N5.2billion, N6.2billion, N6.150billion, N1.5billion and N500million, between 2013 and 2014 in Lagos,
The 13-count cost, filed by EFCC counsel, Bilikisu Buhari, on January 16, 2025, additional claimed that the defendants,made and uttered solid paperwork to deceive the financial institution.
Otudeko, Onasanya, Akintayo and Anchorage will likely be introduced earlier than Justice Chukwujekwu Aneke, to whom the case, registered as FHC/L/20C/2025, been assigned.
Particularly, depend 1 accused the defendants of conspiring “to acquire the sum of N12.3Billion from First Financial institution Restricted on the pretence that the mentioned sum represented credit score amenities utilized for by V-TECH DYNAMIC LINKS LIMITED and Stallion Nigeria Restricted, which illustration you realize to be false.”
In Depend 2, it was alleged that the defendants, on or about twenty sixth day of November, 2013 in Lagos, “obtained the sum of N5.2 Billion from First Financial institution Restricted on the pretence that the mentioned sum represented credit score amenities utilized for by V TECH DYNAMIC LINKS LIMITED which illustration you realize to be false.”
The third depend claimed that
the defendants, between 2013 and 2014 in Lagos, obtained N6.2billion from First Financial institution Restricted on the pretence that the mentioned sum represented credit score amenities utilized for and disbursed to Stallion Nigeria Restricted, which illustration you realize to be false.”
Within the 4th depend, they have been accused of conspiring to spend the N6.15billion, out of the monies.
In keeping with the Fee, the offences contravened Part 8(a) of Advance Charge Fraud and Different Fraud Associated Offences Act 2006 and was punishable below Part 1(3) of the identical Act.
Counts 5 and 6 learn: “That you just, CHIEF OBA OTUDEKO, STEPHEN OLABISI ONASANYA, SOJI AKINTAYO AND ANCHORAGE LEISURE LIMITED on or about eleventh day of December, 2013 in Lagos, procured Honeywell Flour Mills Plc to retain the sum of N1,5 Billion, which sum you fairly should have recognized varieties a part of proceeds of your illegal actions to wit: Acquiring by False Pretense and also you thereby dedicated an offence opposite to Part 18(c), 15 (2) (d) of the Cash Laundering (Prohibition) Act, 2011 (as amended) and punishable below Part 15(3) of the identical Act.
“That you just, CHIEF OBA OTUDEKO, STEPHEN OLABISI ONASANYA, SOJI AKINTAYO, AND ANCHORAGE LEISURE LIMITED on or about seventeenth day of December, 2013 in Lagos, transformed to the usage of Honeywell Flour Mills Pic the sum of N500 Million Naira Solely which sum you fairly should have recognized varieties a part of proceeds of your illegal actions to wit: Acquiring by False Pretense and also you thereby dedicated an offence opposite to Part 15(2 (b)) of the Cash Laundering (Prohibition) Act, 2011 (as amended) and punishable below Part 15(3) of the identical Act.””
Different fees are as follows: “Depend 7. That you just, CHIEF OBA OTUDEKO, STEPHEN OLABISI ONASANYA, SOJI AKINTAYO AND ANCHORAGE LEISURE LIMITED on or concerning the third day of September, 2013 in Lagos and inside the jurisdiction of this Honourable Court docket conspired amongst yourselves to commit an offence to wit: uttering a solid doc – titled “Letter of Utility” with intent that it might be utilized by the First Financial institution within the perception that the mentioned doc is real and emanated from V-Tech Hyperlinks Dynamic Restricted, and also you thereby dedicated an offence opposite to Part 3(6) of the MISCELLANEOUS OFFENCES ACT, Cap M17 Legal guidelines of the Federation of Nigeria 2004 and punishable below Part 1(2)(c) of similar Act.
“COUNT 8: That you just, CHIEF OBA OTUDEKO, STEPHEN OLABISI ONASANYA, SOJI AKINTAYO AND ANCHORAGE LEISURE LIMITED on or concerning the third day of September, 2013 in Lagos and inside the jurisdiction of this Honourable Court docket uttered a solid doc titled “Letter of Utility” with intent that it might be utilized by the First Financial institution within the perception that the mentioned doc is real and emanated from V-Tech Dynamic Hyperlinks Restricted, and also you thereby dedicated an offence opposite to Part 1(2)(c) of the MISCELLANEOUS OFFENCES ACT, Cap M17 Legal guidelines of the Federation of Nigeria 2004 and punishable below similar Act.
“COUNT 9 That you just, CHIEF OBA OTUDEKO, STEPHEN OLABISI ONASANYA, SOJI AKINTAYO AND ANCHORAGE LEISURE LIMITED on or concerning the third day of September, 2013 in Lagos and inside the jurisdiction of this Honourable Court docket conspired amongst yourselves to commit an offence to wit: making false doc titled “AUTHORIZATION TO ISSUE INVESTMENT CERTIFICATE TO FIRST BANK” with intent that it might be utilized by First Financial institution within the perception that the mentioned doc is real and emanated from V-Tech Hyperlinks Dynamic Restricted, and also you thereby dedicated an offence opposite to Part 3(6) of the MISCELLANEOUS OFFENCES ACT, Cap M17 Legal guidelines of the Federation of Nigeria 2004 and punishable below Part 1(2)(c) of similar Act.
“COUNT 10: That you just, CHIEF OBA OTUDEKO, STEPHEN OLABISI ONASANYA, SOJI AKINTAYO AND ANCHORAGE LEISURE LIMITED on or concerning the third day of September, 2013 in Lagos and inside the jurisdiction of this Honourable Court docket made a solid doc titled “AUTHORIZATION TO ISSUE INVESTMENT CERTIFICATE TO FIRST BANK” with Intent that it might be utilized by the First Financial institution within the perception that the mentioned doc is real and emanated from V-Tech Hyperlinks Dynamic Restricted, and also you thereby dedicated an offence opposite to Part 1(2) (c) of the MISCELLANEOUS OFFENCES ACT, Cap M17 Legal guidelines of the Federation of Nigeria 2004 and punishable below similar Act.
“COUNT 11: That you just, CHIEF OBA OTUDEKO AND STEPHEN OLABISI ONASANYA on or about thirty first day of October, 2014 in Lagos, inside the jurisdiction of this Honourable Court docket procured Abiodun Olatunji and Raymond Eze to switch the sum of N6,200,000,000 (Six Billion, Two Hundred Million Naira Solely), to STALLION NIGERIA LIMITED’s account quantity “2015708429” domiciled with First Financial institution, which sum you fairly should have recognized shaped a part of the proceeds of illegal actions to wit: Fraudulent False Accounting and also you thereby dedicated an offence opposite to Sections 18 (c) and 15(2 (b) of the Cash Laundering (Prohibition) Act, 2011 (as amended) and punishable below Part 15(3) of the identical Act.
“COUNT 12: That you just, CHIEF OBA OTUDEKO AND STEPHEN OLABISI ONASANYA on or about eleventh day of December, 2013 in Lagos, inside the jurisdiction of this Honourable Court docket procured Abiodun Olatunji and Raymond Eze to switch the sum of N2, 090, 000,000 (Two Billion, Ninety Million Naira Solely), from STALLION NIGERIA LIMITED’s account quantity “2015708429” domiciled with First financial institution, to Emmerado Logistics Restricted’s account quantity “0688985010” domiciled with First Metropolis Monument Financial institution, which sum you fairly should have recognized shaped a part of the proceeds of illegal actions to wit: Fraudulent False Accounting and also you thereby dedicated an offence opposite to Sections 18 (c) and 15(2 (b) of the Cash Laundering (Prohibition) Act, 2011 (as amended) and punishable below Part 15(3) of the identical Act.
“COUNT 13: That you just, CHIEF OBA OTUDEKO on or about third day of September, 2013 in Lagos, inside the jurisdiction of this Honourable Court docket while being the Chairman of First financial institution Plc not directly had private curiosity in a mortgage facility searched for by V Tech Dynamics Hyperlinks Restricted within the sum of N6,150,000,000.00 (Six Billion, One Hundred and Fifty Million Naira Solely), which curiosity was not declared to the Financial institution and also you thereby dedicated an offence opposite to Part 18(1) BANKS AND OTHER FINANCIAL INSTITUTIONS ACT 2004 and punishable below Part 18(2) of similar Act.”
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