The Economic and Financial Crimes Commission (EFCC) may seek a bench warrant for the arrest of former Chairman of First Bank of Nigeria (FBN) Holdings Oba Otudeko, who is in the middle of a N12.3 billion advanced fee fraud suit alongside three others.
Penpushing reports the crimes is said to be considering the option if Otudeko failed to show for his arraignment alongside with others already scheduled for Monday as unconfirmed report said he has flown to London ahead of the arraignment.
The Economic and Financial Crimes Commission (EFCC), which is the prosecutor, however, said it was not aware of the said travel, but a source familiar with Otudeko’s itinerary said he left the country on Thursday on a British Airways flight to London.
Penpushing further reports that it is recalled that the anti-graft on Thursday opened a can of worms after filing various charges against Otudeko, who holds the controlling stake in Honeywell Flour Mills,listed in Lagos which include falsification, diversion of loan proceeds and fraud.
The other defendants include Bisi Onasanya, who was the Chief Executive Officer of First Bank of Nigeria(FBN) Holdings during part of the time when Otudeko was Chairman, and Soji Akintayo, a former Director of Honeywell Flour Group and Anchorage Leisure Limited.
Penpushing also reports that the Economic and Financial Crimes Commission (EFCC) filing the charges at the Federal High Court, Lagos, on Thursday alarmed that one of the shocking discovery was the allegation that the defendants acquired Honeywell Flour Mills for N1.5 billion from proceeds of unlawful activities in December 2013.
The duo of Otudeko and Onasanya were said to have procured one Abiodun Olatunji and Raymond Eze to move N6.2 billion from proceeds of unlawful activities to an account of Stallion Nigeria domiciled with First Bank.
Penpushing reports that they were equally alleged to procure Olatunji and Eze to transfer N2.1 billion from an account of Stallion Nigeria Limited with First Bank to Emmerado Logistics Limited’s account with First City Monument Bank.
“Oba Otudeko, Stephen Olabisi Onasanya, Soji Akintayo and Anchorage Leisure Limited on or about the third day of September 2013 in Lagos and within the jurisdiction of this Honourable Court made a forged document titled authorization to issue investment certificate to first bank’, the prosecution stated.
Penpushing further reports that the commission explained that the four defendants intended that First Bank may use the certificate under the impression that the document was genuine and came from V-Tech Links Dynamic Limited.
The Central Bank of Nigeria(CBN) it is recalled in 2021 ousted Otudeko from the financial services group’s chairmanship for violating the institution’s corporate governance principles, as the regulator cited his role in the unlawful removal of Adesola Adeduntan, the then- Chief Executive Officer of the institution.
Penpushing also reports that the far-reaching shake-up equally led to the dismissal of the entire board of First Bank of Nigeria (FBN), the commercial banking subsidiary of the group.
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