COURT ADJOURNS EFCC CASE AGAINST OTUDEKO, FIRST BANK EX-MD TO JUNE 11 FOR SETTLEMENT REPORT
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By Aishat Momoh. O.
A Federal High Court sitting in Lagos has adjourned proceedings in the ongoing criminal case involving the Economic and Financial Crimes Commission (EFCC), Honeywell Group Chairman Oba Otudeko, First Bank, and others to June 11, 2025, to allow parties continue with ongoing settlement talks.
Justice Chukwujekwu Aneke adjourned the matter following submissions by counsel that negotiations were still in progress and that an update would be provided at the next sitting.
Appearing for Otudeko, senior advocate Bode Olanipekun, SAN, informed the court that all parties were actively engaging in discussions aimed at resolving the dispute amicably, and requested an adjournment to facilitate continued dialogue.
Counsel for the EFCC, Mrs. Bilikisu Buhari-Bala, confirmed the development, but added that the prosecution would request the arraignment of the defendants should the settlement talks collapse before the next hearing.
The matter, which stems from a 13-count charge filed by the EFCC, involves Otudeko, former First Bank Managing Director Olabisi Onasanya, former Honeywell board member Soji Akintayo, and a company, Anchorage Leisure Ltd. The charges include allegations of financial misconduct and corporate malfeasance.
At a previous hearing on March 17, lead defence counsel Wole Olanipekun, SAN, informed the court that the Attorney General of the Federation (AGF) had convened a meeting with all parties to explore an out-of-court resolution. He further disclosed that considerable progress had been made, and the AGF had urged all involved to refrain from filing further applications or taking steps that could hinder the settlement process.
With negotiations still ongoing, Justice Aneke has adjourned the matter to June 11, 2025, for either a report of settlement or the arraignment of the defendants, depending on the outcome of the talks.
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