The Economic and Financial Crimes Commission (EFCC) is set to arraign the Chairman of Honeywell Group, Chief Oba Otudeko, alongside three others, including a former Managing Director of First Bank, Olabisi Onasanya, over alleged N12.3 billion fraud.
The defendants, who will be arraigned at the Federal High Court in Lagos on Friday, are facing a 13-count charge bordering on fraud and forgery.
The EFCC alleges that they obtained the said sum from First Bank Limited under false pretenses, claiming it was for credit facilities applied for by V-tech Dynamic Links Limited and Stallion Nigeria Specifically, the defendants are accused of
Obtaining N12.3 billion from First Bank Limited under false pretenses
-Uttering forged documents including Letter of Application” purportedly from V-Tech Dynamic Links Limited
Failing to declare personal interests in loan facilities sought by V-Tech Dynamic Links Limited
The EFCC’s case against the defendants (Oba Otudeko, Bisi Onasanya and other )is built around allegations of conspiracy, fraud, and forgery, with the defendants facing charges under various sections of the Miscellaneous Offences Act,
