The Economic and Financial Crimes Commission (EFCC) has filed a 13-count charge against Honeywell Group Chairman, Chief Oba Otudeko, and former First Bank Managing Director, Olabisi Onasanya, for allegedly defrauding First Bank of ₦12.3 billion.
The accused, including ex-Honeywell Flour Mills director Soji Akintayo and Anchorage Leisure Ltd., are to be arraigned on 20 January 2025 before Justice Chukwuejekwu Aneke at the Federal High Court, Lagos.
The EFCC alleges that between 2013 and 2014, the defendants obtained funds under false pretences, including ₦5.2bn, ₦6.2bn, ₦6.15bn, ₦1.5bn, and ₦500m. The commission claims the sums were misrepresented as credit facilities for V-Tech Dynamics Ltd. and Stallion Nigeria Ltd.
The prosecution plans to call witnesses, including First Bank and Central Bank of Nigeria representatives, to provide evidence of fraudulent misrepresentation and present supporting documents.
The offences allegedly contravene provisions of the Advance Fee Fraud Act 2006 and the Money Laundering (Prohibition) Act, 2011 (as amended). The EFCC will rely on testimonies and exhibits to prove its case.