US EditionNigeria: EFCC Withdraws Case Against Oba Otudeko
LAGOS, NIGERIA, JUL 23 – EFCC withdrew a 13-count fraud case against Oba Otudeko after full repayment of disputed N12.3 billion loan and an out-of-court settlement with First Bank and the Attorney General.
- On Wednesday, July 23, 2025, the EFCC withdrew its 13-count fraud case, prompting Justice Chukwujekwu Aneke to strike out the charges at the Federal High Court in Lagos.
- Following a review of representations, the AGF exercised his constitutional discretion, and Rotimi Oyedepo, SAN, confirmed the case was discontinued after full repayment of funds.
- On Wednesday, July 23, 2025, the Federal High Court in Lagos struck out the N12.3 billion fraud case against Oba Otudeko after the EFCC withdrew charges following full repayment and settlement.
- First Bank of Nigeria, nominal complainant, withdrew its complaint, restoring certainty to Nigeria’s financial sector after full repayment of disputed funds.
- Financial analysts say the case withdrawal reaffirms Nigeria's judicial credibility and institutional safeguards protecting commercial transactions.
28 Articles
28 Articles
Alleged N12.3bn fraud: Court throws out case against...
A Federal High Court in Ikoyi, Lagos has struck out the charges against the former chairman of Honeywell Flour Mills and the First Bank Nigeria (FBN) Holdings Plc, Dr Oba Otudeko and three others. Justice Chukwujekwu Aneke on Wednesday struck out the charges following their withdrawal by the Economic and Financial Crimes Commission (EFCC). Justice Aneke ruled that the decision was based on Section 180 of the Administration of Criminal Justice Ac…
Nigeria: EFCC Withdraws Case Against Oba Otudeko
The Economic and Financial Crimes Commission (EFCC) has formally withdrawn the 13-count charge filed before the Federal High Court in Lagos against Chief Oba Otudeko, Chairman of Honeywell Group, and three other defendants.
EFCC withdraws fraud case against Otudeko, others after recovering funds
The Federal High Court in Lagos has dismissed the 13-count charge brought against Oba Otudeko, former chairman of First Bank of Nigeria, FBN. The EFCC had previously filed a 13-count charge against Oba Otudeko, former First Bank MD, Bisi Onasanya, former Honeywell board member Soji Akintayo, and a company, Anchorage Leisure Ltd, accusing them of fraudulently obtaining N12.3 billion, N5.2 billion, N6.2 billion, N6.1 billion, and N1.5 billion fro…
EFCC withdraws charges against Oba Otudeko
The Economic and Financial Crimes Commission (EFCC) has officially withdrawn the 13-count charge filed at the Federal High Court in Lagos against Chief Oba Otudeko, along with three othersThe withdrawal marks the end of legal proceedings initiated in January 2025 over alleged non-performing loan transactions. Otudeko, a prominent industrialist and philanthropist, had consistently maintained that the matter was civil in nature and had been fully …
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