EFCC begins settlement talks as Judge suspends ruling on Oba Otudeko’s appearance

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2 months ago

A Federal High Court sitting in Ikoyi, Lagos, presided over by Justice Chukwujekwu Aneke, has adjourned the case involving Oba Otudeko, Chairman of Honeywell Group, and others until May 8, 2025.

Notably, Oba Otudeko has not been required to appear in court, as the judge explained that a ruling would be deferred until all parties provide a settlement report.

The adjournment was granted following a request by Chief Wole Olanipekun (SAN), counsel for the first defendant, who informed the court that settlement discussions were ongoing. Initiated at the instance of the Attorney General of the Federation, these discussions involve all parties, including First Bank of Nigeria (the nominal complainant), chaired by Femi Otedola. The negotiations aim to resolve the alleged ₦12.3 billion fraud case amicably.

Chief Olanipekun revealed that during a March 12 meeting overseen by the Attorney General, all parties agreed to pursue an out-of-court settlement. He further noted that the Attorney General requested a pause on all legal filings to allow for progress in the negotiations. A follow-up meeting has been scheduled for April 9 to finalize settlement terms.

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The prosecution counsel, Bilikisu Buhari, representing the Economic and Financial Crimes Commission (EFCC), acknowledged the settlement talks but requested the court to set a date for either a settlement report or arraignment should negotiations fail. However, the defense opposed scheduling an arraignment, emphasizing the importance of ongoing discussions.

After hearing both sides, Justice Aneke adjourned the case until May 8. The judge also dismissed preliminary objections from the defense seeking to halt proceedings, affirming that jurisdictional challenges could not prevent the trial from progressing at this stage under criminal law.

At previous hearings, the defense argued that the case stemmed from a civil banker-customer relationship resolved over eight years ago and should not be treated as a criminal matter. They maintained that payments had been made in full and that the EFCC’s involvement in the resolution process further supported their position.

The EFCC, however, disputed these claims, alleging that fraudulent misrepresentations were made to secure loans totaling ₦12.3 billion between 2013 and 2014.

Justice Aneke’s ruling on May 8 will determine whether the case proceeds to trial or is resolved through an out-of-court settlement. Until then, all parties remain engaged in efforts to reach an amicable resolution.

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