Loan Controversy: Otudeko, Others Must Appear Before Challenging Jurisdiction, Court Rules

•Adjourns for settlement report as AGF intervenes

Wale Igbintade

Justice Chukwujekwu Aneke of the Federal High Court, Lagos, ruled yesterday that Oba Otudeko, a former chairman of FBN Holdings Plc and three others must appear for arraignment before their applications challenging the court’s jurisdiction would be heard.

The Economic and Financial Crimes Commission (EFCC) had filed a 13-count charge against Otudeko, former First Bank’s Managing Director Olabisi Onasanya; former Honeywell board member Soji Akintayo, and the company Anchorage Leisure Ltd. The case was marked FHC/L/20C/2025.

The defendants were accused of allegedly obtaining N12.3 billion from First Bank under false pretenses.

During the proceedings, only Onasanya and Akintayo were present in court.

Mrs. Bilikisu Buhari-Bala appeared for the prosecution.

Chief Wole Olanipekun (SAN) represented the first defendant (Otudeko), Mr. Olumide Fusika (SAN) represented the second defendant (Onasanya), Mr. Kehinde Ogunwumiju (SAN) represented the third defendant (Akintayo), while Dr. Charles Adeogun-Philips (SAN) represented the fourth defendant (Anchorage Leisure Ltd).

Mr. Babajide Koku (SAN) held a watching brief for the nominal complainant (First Bank of Nigeria).

Ruling on various applications challenging the court’s jurisdiction, Justice Aneke held that, based on Section 396(2) of the Administration of Criminal Justice Act (ACJA), all defendants must first appear for arraignment before any jurisdictional objections can be considered.

Citing legal precedents, the judge emphasised that preliminary objections cannot be entertained until the defendants are arraigned and their pleas taken.

He referenced the Court of Appeal’s ruling in the Yahaya Bello versus EFCC’s case, which established that no applications could be heard before arraignment.

Following the ruling, Olanipekun, counsel to Otudeko, informed the court that on March 12, 2025, counsel for all parties and the prosecution met at the Attorney General of the Federation’s (AGF) office to explore an amicable resolution.

He stated that substantial progress was made at the meeting and that the AGF had directed all parties to avoid actions that could jeopardise the settlement process.

Furthermore, the AGF instructed that no additional applications should be filed while settlement discussions were ongoing.

Olanipekun also informed the court that the next meeting with the AGF was scheduled for April 9, 2025, in Abuja, and requested an adjournment for a settlement report.

EFCC’s prosecutor Bilikisu Buhari-Bala opposed the request, arguing that the case should be adjourned for both a settlement report and the defendants’ arraignment.

At this point, Olanipekun reiterated that, as a senior member of the Bar, he could not mislead the court and confirmed that the AGF had indeed brokered the settlement talks.

He urged the court to support the peaceful resolution process by granting an adjournment solely for a settlement report, rather than arraignment.

Other defence counsel, including Ogunwumiju (SAN), Fusika (SAN), Adeogun-Philips (SAN), and Koku (SAN) (representing First Bank), confirmed their presence at the settlement meeting and unanimously supported the request for an adjournment solely for a settlement report.

Justice Aneke granted the request and adjourned the case to May 8, 2025, for a settlement report.