Lagos, July 23, 2025 – The Federal High Court in Lagos has struck out the N12.3 billion fraud charge against Oba Otudeko, the Chairman of Honeywell Group, by the Economic and Financial Crimes Commission (EFCC).
The development followed the withdrawal of the charge on Wednesday by the EFCC.
Chukwujekwu Aneke, the trial judge, struck out the case on Wednesday after the EFCC lawyer, Rotimi Oyedepo, had told the court that the matter had been resolved between the parties.
The EFCC had filed the13-count charge against Otudeko; a former Chairman of the bank, and three others.
The others are Olabisi Onasanya, a former Chief Executive of the bank, Soji Akintayo, a board member of Honeywell and Anchorage Leisure Limited.
The EFCC had accused them of fraudulently obtaining N12.3 billion from the bank by presenting the funds as credit facilities requested by V-Tech Dynamic Links Ltd and Stallion Nigeria Ltd between 2013 and 2014.
On Wednesday, Otudeko’s lawyer, Bode Olanipekun, told the court that all issues leading to the charge had been resolved.
Oyedepo, the EFCC layer, also confirmed that the case had been resolved and the resolution formally communicated to the Attorney General of the Federation (AGF).
