Dr. Oba Otudeko, Chairman of Honeywell Group and Former Chairman of First Bank Plc, has reportedly left Nigeria shortly after reports of his impending arraignment by the Economic and Financial Crimes Commission, EFCC, for fraud emerged.
POLITICS NIGERIA learned that Otudeko left the country via one of Nigeria’s land borders on Thursday evening. Security operatives disclosed that he was dropped off at the Nigeria-Benin border by a family member.
The anti-graft commission had filed a 13-count charge at the Federal High Court in Lagos against Oba Otudeko and three others. The charges revolve around allegations of fraudulently obtaining a ₦30 billion loan under false pretenses.
Among the co-defendants are Stephen Olabisi Onasanya, a former Group Managing Director of First Bank; Soji Akintayo, a former board member of Honeywell Flour Mills Plc; and Anchorage Limited, a company reportedly connected to Otudeko.
The EFCC alleged that Otudeko and his co-defendants secured multiple loan tranches from First Bank, totaling ₦12.3 billion, ₦5.2 billion, ₦6.2 billion, ₦6.1 billion, and ₦1.5 billion. These funds were reportedly obtained under the guise of being issued to various companies.
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