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EFCC to Arraign Oba Otudeko, Bisi Onasanya, Others Over Alleged N12.3bn Fraud

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Oba Otudeko Bisi Onasanya

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.

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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Nigeria Records 57 Electricity-Related Accidents in Three Months

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Electricity-Related Accidents

By Adedapo Adesanya

Nigeria recorded 57 recorded cases of  electricity-related mishaps, according to the latest electricity sector data released by the Nigerian Electricity Regulatory Commission (NERC).

The data, which covers the third quarter of 2025 (Q3 2025), spotlighted how 33 people lost their lives and another 33 sustained various degrees of injuries in power-related accidents across the country.

According to the Q3 2025 report, a total of 57 power-related accidents were reported across the country during the period under review.

The accidents were spread across several distribution zones, with Ikeja and Kano electricity distribution areas recording the highest number of incidents during the quarter.

Both zones reported 10 accidents each. Ikeja also recorded six injuries and four deaths, while Kano posted six deaths and four injuries.

While Abuja, Jos, Aba, Port Harcourt, Enugu, and Yola recorded varying but still troubling levels of incidents, Eko, Kaduna, and the Transmission Company of Nigeria (TCN) also featured prominently. In many of these cases, accidents resulted in either severe injuries or fatalities, or both.

Unsafe acts and hazardous conditions accounted for the highest number of injuries and tied for the highest number of fatalities, while wire snaps emerged as one of the deadliest hazards, accounting for 10 fatalities and seven injuries during the quarter.

The report noted that 10 deaths and 18 injuries were attributed to unsafe practices or conditions, pointing to a mix of human error, poor safety culture, and inadequate enforcement of operational standards by licensees.

Illegal or unauthorised access to electricity installations also contributed to the casualty figures, leading to two fatalities and three injuries during the period under review.

Vandalism, while responsible for fewer casualties in the quarter, still resulted in two deaths.

The report also noted that the TCN recorded four cases of damage to property and infrastructure arising from explosions, fire outbreaks, or acts of vandalism during the quarter.

However, NERC said it initiated investigations into all reported accidents and signalled its intention to enforce appropriate actions where necessary.

The regulator said it organised periodic health and safety managers’ meetings aimed at improving safety performance across the industry, where it brings together health and safety officers from electricity companies to review incident reports, share lessons learned, and identify areas requiring urgent improvement.

During the period under consideration, the regulator disclosed that it supervised the successful conclusion of two compensation negotiations between electricity companies and families of victims, an indication of ongoing efforts to address the aftermath of such incidents.

However, the report showed that in the previous quarter (Q2), 38 fatalities were recorded, 19 persons were injured, and 60 accidents were reported.

“Relative to 2025/Q2, the number of accidents decreased from 60 to 57, the number of fatalities decreased from 38 to 33, but the number of injuries increased from 19 to 33,” the NERC report stressed.

“During the quarter, all the accidents occurred at the distribution level, i.e., neither TCN nor any of the Gencos recorded safety accidents. Although all Discos recorded casualties, the licensees with the highest number of casualties out of the total 66 recorded during the quarter are Ikeja and Kano (10), Eko and Kaduna (8), representing 15.15 per cent and 12.12 per cent of the total, respectively.

“This quarter continues the trend of the distribution sub-segment being the biggest driver of safety accidents in the sector. Discos accounted for 93.33 per cent, 100 per cent, and 100 per cent in 2024/Q4, 2025/Q1, and 2025/Q2, respectively,” the NERC report pointed out.

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Akwa Ibom Assembly Denies Criminalising Romantic Affairs With Married Men

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Akwa Ibom Assembly

By Modupe Gbadeyanka

Contrary to reports making the rounds, the Akwa Ibom State House of Assembly is not considering passing a bill to make it a criminal offence for single ladies having romantic affairs with married men in the state.

On Monday, unconfirmed news went viral, purporting that a phantom Deputy Governor of Akwa Ibom State, Mrs Akon Etim, had sponsored a bill to ensure single ladies having sexual relationship with married men spend 10 years in prison, while the men pay a fine of N2 million.

It was claimed that the bill was to be passed by the state parliament, today, Tuesday, January 13, 2026.

Business Post reports that the Deputy Governor of Akwa Ibom State is Mrs Akon Eyakenyi, not Mrs Akon Etim.

Reacting to the reports, the chairman of the House Committee on Information, Mr Jerry Anson Otu, described the reports as “false.”

“The Akwa Ibom State House of Assembly wishes to categorically state that this report is entirely false and has no basis in fact. The Assembly has not received or considered any such bill, and the Deputy Governor has not sponsored it.

“We condemn this malicious attempt to tarnish the image of the Deputy Governor and the Assembly, and urge the public to disregard this fake news and any associated commentaries.

“The House remains committed to its constitutional role of law-making, and will not be swayed by mischievous attempts to undermine its integrity,” parts of the statement issued by the parliament stated.

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Nigeria Eyes Stronger Diplomatic Ties in Sustainable Development

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tinubu in UK

By Adedapo Adesanya

Nigeria is eyeing stronger diplomatic and strategic ties when it comes to sustainable development as it participates in the 2026 edition of Abu Dhabi Sustainability Week (ADSW).

President Bola Tinubu arrived in Abu Dhabi, United Arab Emirates (UAE), on Sunday. His plane landed at the Presidential Wing of Zayed International Airport at exactly 11:30 pm local time.

He was received by Sheikh Shakhboot Nahyan Al Nahyan, UAE Minister of State for Foreign Affairs; the UAE Ambassador to Nigeria, Salem Saeed Al-Shamsi; Nigeria’s Minister of Foreign Affairs, Ambassador Yusuf Maitama Tuggar; and members of the Nigerian diplomatic mission in Abu Dhabi.

Several other ministers, including the Minister of Budget and Planning, Mr Atiku Bagudu; the Minister of Industry, Trade and Investment, Mrs Jumoke Oduwole; and the Director-General of the National Intelligence Agency, Mr Mohammed Mohammed, welcomed President Tinubu at his hotel.

President Tinubu arrived in Abu Dhabi from Europe, where he spent part of his end-of-year break, engaging in fruitful discussions with Rwandan President Paul Kagame and French President Emmanuel Macron, according to a statement by the presidency.

The 2026 Abu Dhabi Sustainability Week, with the theme The Nexus of Next, All Systems Go, is a global platform that brings together world leaders, policymakers, investors, and experts to advance dialogue and action on sustainable development, climate action, energy transition, and inclusive economic growth.

This visit further reinforces the strong diplomatic and economic ties between Nigeria and the United Arab Emirates (UAE), while positioning Nigeria as an active contributor to global conversations on sustainable development.

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