General
EFCC to Arraign Oba Otudeko, Bisi Onasanya, Others Over Alleged N12.3bn Fraud
By Adedapo Adesanya
The Economic and Financial Crimes Commission (EFCC) will arraign the Chairman of Honeywell Group, Mr Oba Otudeko, and three other defendants on Monday, January 20, 2025, over an alleged fraud worth about N12.3 billion.
The anti-graft agency on Thursday filed a 13-count criminal charge against the respected businessman and others. They will be brought before Justice Chukwujekwu Aneke of the Federal High Court, Lagos next week.
Mr Otudeko will be arraigned alongside a former Managing Director of First Bank, Mr Olabisi Onasanya; a former member of the board of directors of Honeywell Flour Mills Plc, Mr Soji Akintayo; and a company linked to Mr Otudeko, Anchorage Leisure Ltd.
All four were listed as defendants in the suit filed by an EFCC prosecutor, Mrs Bilkisu Buhari-Bala, on January 16, 2025.
The EFCC alleged the four committed fraud in tranches of N5.2 billion, N6.2 billion, N6.150 billion, N1.5 billion and N500 million, between 2013 and 2014 in Lagos.
In proof of the charge against the defendants, the EFCC intends to call representatives of First Bank, including Mrs Cecelia Majekodunmi, Mr Ola Michael Aderogba, Mr Abiodun Olatunji, Mr Raymond Eze, Mr Abiodun Odunbola and Mr Adeeyo David, all of whom are expected to give evidence of the fraudulent misrepresentation of the defendants and tender relevant documents.
The agency will also rely on the testimonies of representatives of the Central Bank of Nigeria (CBN), Stallion Nigeria Limited, and V-tech Dynamics Ltd.
Also included in the EFCC’s list of witnesses are one Ms Farida Abubakar and Ms Adaeze Nwakobi.
Some of the Counts
According to the commission, the offences contravene Section 8(a) of Advance Fee Fraud and Other Fraud Related Offences Act 2006 and were punishable under Section 1 (3) of the same Act.
Count 1 of the charge says that Chief Oba Otudeko, Stephen Olabisi Onasanya, Soji Akintayo and Anchorage Leisure Limited between 2013 and 2014 in Lagos, within the jurisdiction of this Honourable Court conspired amongst yourselves to obtain the sum of N12,300,000,000.00 (Twelve Billion, Three Hundred Million Naira Only), from First Bank Limited on the pretence that the said sum represented credit facilities applied for by V- Tech Dynamic Links Limited and Stallion Nigeria Limited, which representation you know to be false, and you thereby committed an offence contrary to Section 8(a) of Advance Fee Fraud and other Fraud Related Offences Act 2006 and punishable under Section 1(3) of the same Act.
In Count 2, it was alleged that the defendants, on or about 26th day of November, 2013 in Lagos, “obtained the sum of N5.2 Billion from First Bank Limited on the pretence that the said sum represented credit facilities applied for by V Tech Dynamic Links Limited which representation you know to be false.”
The 3rd count claims that the defendants, between 2013 and 2014 in Lagos, obtained N6.2 Billion from First Bank Limited on the pretence that the said sum represented credit facilities applied for and disbursed to Stallion Nigeria Limited, which representation you know to be false.”
Count 4 reads, that you, Chief Oba Otudeko, Stephen Olabisi Onasanya, Soji Akintayo and Anchorage Leisure Limited on or about 26th day of November 2013 in Lagos, within the jurisdiction of this Honourable Court conspired amongst yourselves to use the total sum of N6,150,000,000,.00 (Six Billion, One Hundred and Fifty Million Naira Only.), which sum you reasonably ought to have known forms part of proceeds of your unlawful activities to wit: Obtaining by False Pretence and you thereby committed an offence contrary to Sections 18(a), 15 (2) (d) of the Money Laundering (Prohibition) Act, 2011 (as amended) and punishable under Section 15(3) of the same Act.
Count 5 accuses Chief Oba Otudeko, Stephen Olabisi Onasanya, Soji Akintayo and Anchorage Leisure Limited on or about 11th day of December, 2013 in Lagos, procured Honeywell Flour Mills Plc to retain the sum of N1.5 billion, which sum you reasonably ought to have known forms part of proceeds of your unlawful activities to wit: Obtaining by False Pretence and you thereby committed an offence contrary to Section 18(c), 15 (2) (d) of the Money Laundering (Prohibition) Act, 2011 (as amended) and punishable under Section 15(3) of the same Act.
General
Dangote Petitions ICPC, Seeks Farouk Ahmed’s Prosecution
By Aduragbemi Omiyale
A petition has been filed against the chief executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Mr Ahmed Farouk.
The petition was written by the president of the Dangote Group, Mr Aliko Dangote, to the Independent Corrupt Practices and Other Related Offences Commission (ICPC).
Mr Dangote asked the agency to look into the finances of the head of the petroleum industry regulator, alleging the man is living far above his legitimate means as a public officer.
In the protest letter filed by his legal counsel, Mr Ogwu Onoja (SAN), the businessman claimed the NMDPRA chief spent over $7 million to educate his children, four in number, in Switzerland.
The petition, dated and submitted on Tuesday, December 16, 2025, and received by the office of the ICPC Chairman, also claimed that Mr Ahmed paid upfront for a six-month period, without any lawful source of income to justify such expenditure.
It also alleged that NMDPRA boss used his office to siphon and divert public funds for personal gain and private interests, actions which he claimed had fuelled public outrage and recent protests by various groups.
“That Engr Farouk Ahmed has grossly abused his office contrary to the extant provisions of the Code of Conduct for Public Officers and, in doing enmeshed himself in monumental corruption and unlawful spending of Public funds running into millions of dollars.
“That Engr Farouk Ahmed spent without evidence of lawful means of income humongous amount of money of over 7million dollars of Public funds, for the education of his four children in different schools in Switzerland for a period of six years upfront,” a part of the petition read.
“It is without doubt that the above facts in relation to abuse of office, breach of the Code of Conduct for public officers, corrupt enrichment and embezzlement are gross acts of corrupt practices for which your Commission is statutorily empowered under Section 19 of the ICPC Act to investigate and prosecute,” another part added.
“Any public officer who uses his office or position to gratify or confer any corrupt or unfair advantage upon himself or any relation or associate of the public officer or any other public officer shall be guilty of an offence and shall on conviction be liable to imprisonment for five (5) years without option of fine,” it reminded the ICPC, urging it to act decisively by investigating the allegations against Mr Ahmed and prosecuting him if found culpable, stressing that the matter is already in the public domain, as this would help uphold justice and protect the image of the administration of President Bola Tinubu.
Mr Dangote promised to provide evidence to substantiate his allegations of corrupt enrichment, abuse of office and impunity against the NMDPRA chief when required.
General
Former Chief Justice of Nigeria Ibrahim Tanko Muhammad Passes Away at 71
By Adedapo Adesanya
A former Chief Justice of Nigeria (CJN), Justice Ibrahim Tanko Muhammad, has died at the age of 71.
Justice Muhammad reportedly passed away at a hospital in Saudi Arabia, about two weeks before his 72nd birthday, which would have fallen on December 31.
His death was confirmed on Tuesday in Abuja by the Bauchi State Governor, Mr Bala Mohammed, in a condolence message issued on Tuesday by his Special Adviser on Media and Publicity, Mr Mukhtar Gidado.
Governor Mohammed noted that Justice Muhammad was a distinguished son of Bauchi State whose life and career were marked by dedication, integrity, and an unwavering commitment to the rule of law.
“The late jurist was a venerable and accomplished legal icon who rose through the ranks of the judiciary with diligence and distinction, serving as a Judge of the High Court, Justice of the Court of Appeal, Justice of the Supreme Court, and ultimately as Chief Justice of Nigeria from 2019 to 2022,” he said.
According to the governor, Justice Muhammad was widely respected for his legal acumen, discipline, and immense contributions to the growth and development of Nigeria’s judicial system.
He added that the conferment of the national honour of Grand Commander of the Order of the Niger (GCON) on the late jurist was a testament to his outstanding service to the nation.
Mr Mohammed extended heartfelt condolences to the family of the deceased, his friends, colleagues in the legal profession, and the people of Bauchi State and Nigeria as a whole.
Also, the Nigerian Association of Muslim Law Students (NAMLAS) lauded the former jurist in its condolence message.
In the statement titled NAMLAS Condolence Message on the Passing of Hon. Justice Ibrahim Tanko Muhammad, GCON, Former Chief Justice of Nigeria, the association described his death as a monumental loss to the Nigerian judiciary and the nation.
“The Nigerian Association of Muslim Law Students receives with profound sorrow the news of the passing of Justice Ibrahim Tanko Muhammad, GCON, former Chief Justice of Nigeria. His demise is a monumental loss to the Nigerian judiciary, the legal profession, the Muslim Ummah, and the nation at large.”
NAMLAS described the late jurist as a towering figure of integrity, humility and unwavering commitment to justice, noting that throughout his judicial career, he exemplified fairness, courage and fidelity to the rule of law.
The association said that as Chief Justice of Nigeria, Muhammad discharged his responsibilities with wisdom and restraint, leaving behind a legacy that would continue to guide generations of legal practitioners.
Beyond his judicial service, NAMLAS highlighted his role as a mentor to young Muslim law students across the country, describing him as a fatherly figure and a source of encouragement.
“To NAMLAS, the late Chief Justice was more than a jurist; he was a fatherly pillar and a source of encouragement to Muslim law students nationwide,” the statement said.
The association extended its condolences to the family of the deceased, the Nigerian judiciary, the Federal Government and the Muslim Ummah, while praying for the repose of his soul.
Justice Ibrahim Tanko Muhammad served as Chief Justice of Nigeria from 2019 until his retirement in 2022.
General
Customs, NMDPRA Strengthen Interagency Efforts Against Fuel Diversion
By Adedapo Adesanya
The Nigeria Customs Service (NCS) and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) are strengthening their collaboration to combat the diversion of petroleum products intended for domestic use and to safeguard Nigeria’s energy security.
This renewed partnership was highlighted during a meeting between Comptroller General of Customs, Mr Adewale Adeniyi and the NMDPRA Executive Director of Distribution Systems, Storage and Retailing Infrastructure, Mr Ogbugo Ukoha, at Customs House, Maitama, Abuja.
During the engagement, Mr Adeniyi reaffirmed the service’s commitment to strengthening inter-agency cooperation, particularly in safeguarding Nigeria’s domestic energy security and ensuring that petroleum products meant for local consumption are not diverted to neighbouring countries.
He noted that collaboration between both agencies had already produced measurable results, especially through Operation Whirlwind, which he described as a model for intelligence sharing, joint enforcement and coordinated field operations.
He said the Nigeria Customs Service remains fully aligned with ongoing reforms in the petroleum regulatory space and will continue to provide technical input, operational feedback and border management expertise to support the implementation of new guidelines being developed by the NMDPRA.
He commended the Authority for its efforts to harmonise legacy processes with the Petroleum Industry Act, stressing that clear and efficient export point procedures are essential as Nigeria moves from being a net importer to an emerging exporter of petroleum products.
“We welcome every initiative that strengthens energy security and ensures that the gains made in reducing cross border diversion are not reversed. Our shared responsibility is to protect national interest, support legitimate trade and maintain a transparent system that stakeholders can rely on. We will continue to work closely with sister agencies to achieve these outcomes,” he stated.
In his remarks, the Executive Director, Mr Ukoha, said the NMDPRA enjoys a longstanding and productive working relationship with the Nigeria Customs Service, noting that Operation Whirlwind remained the high point of that collaboration.
He explained that both agencies deployed personnel, exchanged intelligence and jointly monitored petroleum products in border corridors, leading to a marked reduction in cross border diversion.
Ukoha said the purpose of the visit was to brief the CGC on newly developed guidelines for designating export points for petroleum products as Nigeria’s refining capacity expands.
He said the NMDPRA is engaging key institutions, including Customs, the Central Bank of Nigeria (CBN), the Federal Ministry of Industry, Trade and Investment, and the Nigerian Navy, to ensure the guidelines reflect operational realities before implementation.
The NMDPRA executive recalled several field operations and strategic engagements with the Customs leadership, including the joint launch of Operation Whirlwind in Yola, where both agencies reinforced their commitment to curbing diversion and securing the domestic supply chain.
He added that while enforcement had played a major role in reducing irregular movements of petroleum products, the removal of fuel subsidy had significantly reduced the economic incentive for cross border smuggling.
According to him, the authority will continue to work closely with the Customs Service to sustain progress and ensure that petroleum exports are properly regulated without exposing the country to energy security risks.
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