In a recent court session at the Federal High Court in Lagos, drama unfolded as the legal team for Oba Otudeko, Chairman of Honeywell Group, protested the fraud charges against him. The charges, amounting to ₦12.3 billion, were brought by the Economic and Financial Crimes Commission (EFCC), which accuses Otudeko and his co-defendants—Olabisi Onasanya, former Managing Director of First Bank Plc, and Soji Akintayo, a former Honeywell board member—of obtaining the funds through fraudulent activities.

Bode Olanipekun (SAN), who represents all three defendants, expressed dissatisfaction with the procedure, arguing that the charges had not been formally served to Otudeko or the other two individuals involved. Furthermore, the EFCC has implicated a company, Anchorage Leisure Ltd., in the alleged fraud.

This development follows a series of legal proceedings involving high-profile figures and highlights ongoing concerns over financial misconduct in the country. The case remains to be resolved in the coming weeks.