NIGERIAN NEWS

N12.3bn Fraud: EFCC to Arraign Oba Otudeko, Bisi Onasanya, Others Today

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,

 

AddThis Website Tools
Zuleihat Ahmed

Recent Posts

Trump Vows to Save TikTok from ban

In a surprising turn of events, President-elect Donald Trump has promised to intervene and prevent…

4 weeks ago

Ghanaian Music Legend Teddy Osei Passes Away at 88years

Teddy Osei, the renowned Ghanaian saxophonist and founder of the Afro-rock band Osibisa, has died…

4 weeks ago

Rivers State Gas Explosion Claims Five Lives

The death  from a recent gas explosion in the Orazi area of Obio/Akpor Local Government…

4 weeks ago

Nigerian Singer Spyro Opens Up on Discrimination in Music Industry Due to Christian Faith

Nigerian singer, Oludipe David, popularly known as Spyro, has spoken out about the challenges he…

4 weeks ago

ICPC Charges El-Rufai’s Aide with Money Laundering

The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has filed five counts of…

4 weeks ago

Gunmen Kill Akwa Ibom Polytechnic Fresh Graduate

  A fresh graduate of the Akwa Ibom State Polytechnic, Ikot-Osurua, has been killed by…

4 weeks ago