The Chairman of Honeywell Group, and Olabisi Onasanya, former Managing Director of First Bank, Oba Otudeko, were absent from the Federal High Court in Lagos on Monday for their scheduled arraignment on a 13-count charge involving the alleged misappropriation of N12.3bn from First Bank.
However, both individuals were represented by legal counsel. Bode Olanipekun (SAN), counsel for Otudeko, informed Justice Chukwuejekwu Aneke that he was appearing to express protest, as the charge had not been served on his client or the other defendants in the case.
In addition to Onasanya, the other defendants include Soji Akintayo, a former board member of Honeywell Flour Mills Plc, and Anchorage Leisure Ltd, a company linked to Otudeko.
Olanipekun told the court that despite not being formally served, the defendants were surprised to learn of the planned arraignment through media reports when the news broke last Thursday.