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Otudeko, Onasanya Arraignment Stalled Amidst Service of Process Controversy

Genesis Obong
By Genesis Obong
Published: January 21, 2025
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4 Min Read
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The much-anticipated arraignment of prominent Nigerian businessman, Oba Otudeko, and former First Bank Managing Director, Stephen Onasanya, took an unexpected turn when their legal teams vehemently protested the lack of proper service of the charges. This procedural hurdle effectively stalled the proceedings, leaving the courtroom in a state of uncertainty.

The Economic and Financial Crimes Commission (EFCC) has leveled a 13-count indictment against Otudeko, Onasanya, and several others, including former Honeywell board member, Soji Akintayo, and Anchorage Leisure Limited. These charges stem from allegations of obtaining a substantial N12.3 billion from First Bank through fraudulent means.

The courtroom drama unfolded as defense lawyers, led by renowned legal luminaries Bode Olanipekun (SAN) and Olumide Fusika (SAN), argued that their clients had not been duly served with the charges, a fundamental requirement for a fair legal process.

Fusika, representing Onasanya, expressed deep concern over the media trial his client had endured, emphasizing that such premature publicity could severely prejudice public opinion and undermine his right to a fair hearing.

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“My Lord, it is deeply concerning that my client has been subjected to intense media scrutiny without the formal service of charges. This not only compromises his right to a fair trial but also infringes upon his fundamental right to dignity,” Fusika stated, his voice laced with a sense of urgency.

The EFCC, represented by Rotimi Oyedepo (SAN), countered these claims, asserting that multiple attempts had been made to serve the defendants at their last known addresses. While acknowledging the presence of media reports on the impending arraignment, Oyedepo vehemently denied any involvement by the EFCC in disseminating such information. He suggested that journalists may have independently gathered information through other sources.

“My Lord, we categorically deny any involvement in the release of any information to the media regarding this case,” Oyedepo stated, seeking to distance the commission from any perceived attempts to influence public opinion.

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Despite the initial impasse, the court ultimately allowed Fusika to accept service of the charges on behalf of his client. This procedural maneuver paved the way for the court to adjourn the proceedings until February 13th, a date set for the formal arraignment of the defendants.

The EFCC alleges that the defendants engaged in a complex web of fraudulent activities between 2013 and 2014. These alleged offenses include conspiracy to defraud First Bank, obtaining loans under false pretenses, and engaging in sophisticated money laundering schemes.

The charges further allege the use of forged documents to deceive the bank and secure credit facilities for various entities, including V-Tech Dynamic Links Limited and Stallion Nigeria Limited.

This case has captivated public attention, highlighting the gravity of financial crimes and the ongoing efforts of law enforcement agencies to combat such illicit activities. The upcoming arraignment promises to be a pivotal moment in this legal saga, with far-reaching implications for the defendants and the financial landscape of Nigeria.

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TAGGED:EFCCFirst BankLoan FraudOnasanyaOtudeko
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ByGenesis Obong
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Genesis Obong is a Journalist with relevant experience in Business, Finance and Economic matters in Nigeria and across the West African space.
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