EFCC to arraign Honeywell Group Chairman Oba Otudeko for ‘obtaining over N30bn loan under false pretence’

THE CABLE

The Economic and Financial Crimes Commission (EFCC) has filed a 13-count charge against Oba Otudeko, a former chairman of First Bank Nigeria (FBN), and three others over alleged fraud.

The three other defendants are Stephen Olabisi Onasanya, a former group managing director of FBN; Soji Akintayo, an ex-board member of Honeywell Flour Mills plc; and Anchorage Limited, a company linked to Otudeko.

The anti-graft agency filed the charges at the federal high court in Lagos on Thursday.
The EFCC said the defendants will be arraigned on Monday.
In the charge sheet seen by TheCable, the EFCC accused Otudeko and the other defendants of obtaining tranches of loans—N12.3 billion, N5.2 billion, N6.2 billion, N6.1 billion, and N1.5 billion—from First Bank under the pretence that the funds were obtained by some firms.
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