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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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UK Strengthens Ties With Kano, Jigawa on Sustainable Development

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UK Kano Jigawa

By Adedapo Adesanya

The United Kingdom has reaffirmed its development partnership with Kano and Jigawa States, as part of its long-term commitment to development and reform in northern Nigeria.

The Head of Development Cooperation at the British High Commission Abuja, Ms Cynthia Rowe, recently completed high-level engagements with governors of both states as well as senior government officials and civil society leaders.

The discussions underscored the UK’s modern approach to development as a genuine partnership with Nigeria, which prioritises state-led ownership and sustainable development that delivers lasting impact through strengthening systems and partnerships grounded in investment, trade, climate financing, technical expertise and joint accountability.

According to a statement, the Foreign Commonwealth and Development Office, via the British High Commission, said Nigeria remains one of the UK’s most significant development partners, adding that the engagements underlined the strength and ambition of the bilateral relationship reaffirmed during the recent UK-Nigeria State Visit.

In Kano, Ms Rowe met with Deputy Governor Alhaji Murtala Sule Garo and senior officials, including the newly confirmed Head of Civil Service and Secretary to the State Government. The visit recognised Kano’s progress on climate finance, health system reform and private sector investment supported through UK technical assistance.

In Jigawa, she met with Governor Umar Namadi and heads of key ministries, departments and agencies. The meeting celebrated more than 25 years of UK-Jigawa partnership, one of the most longstanding bilateral development relationships at the subnational level in Nigeria. Discussions covered the state’s continued progress on health systems reform, agriculture, and governance and the path forward under UK technical assistance.

Since 2022, PLANE has supported Kano, Kaduna and Jigawa to strengthen state-led education delivery systems, working through Ministries of Education, SUBEB and key agencies. Its RANA+ foundational learning packages have reached 1.4 million pupils across the three states, alongside wider system strengthening.

Speaking on this, Ms Rowe said, “For more than 25 years, we have worked side by side with state governments, including Jigawa and Kano states, their communities, and civil society to build stronger health systems, improve learning outcomes for millions of children, support farmers to grow their businesses, and help states attract the investment they need to thrive.

These visits have reinforced our confidence in what this partnership can achieve. We are working together to deliver lasting change, and deepening a relationship built on genuine mutual respect and shared ambition for Nigeria’s growth and development.”

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CBN Partners NiMet to Integrate Climate Data Into Economic Planning

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CBN Ways and Means

By Adedapo Adesanya

The Nigerian Meteorological Agency (NiMet) has signed a Memorandum of Understanding (MoU) with the Central Bank of Nigeria (CBN) on data sharing to enhance economic productivity.

This was done at a meeting at CBN Head Office in Abuja, where the weather body led by its Director General, Mr Charles Anosike, on Wednesday, highlighted the importance of integrating weather and climate data into economic research, especially in sectors such as agriculture, energy, and transportation.

He noted that extreme weather events can reduce agricultural productivity and threaten food security.

He added that the collaboration aligns with the Renewed Hope Agenda of President Bola Tinubu, which prioritises food security through major agricultural investment, including the cultivation of 10 million hectares of land and the distribution of mechanised equipment.

Mr Anosike cited a 2026 World Bank report that showed that extreme weather driven by climate change is significantly affecting global food security, with more than 87 million people facing hunger in East and Southern Africa and 52 million in West and Central Africa.

He also referenced the latest Berkeley Earth Report, which projects that 2026 is likely to be the fourth warmest year on record, a trend that continues to shape agricultural and energy market projections.

In his remarks, Mr Muhammad Sani Abdullahi, Deputy Governor, Economic Policy Directorate of the CBN, said the signing of the MoU marked an important step in strengthening the partnership between two key national institutions whose mandates intersect in data, research, and policy support.

He emphasised that, in an increasingly complex and dynamic economic environment, timely and reliable data remain essential for effective policy decisions.

According to him, the Economic Policy Directorate relies heavily on timely and credible statistical information from NiMet, saying that such data are critical for inflation monitoring, agricultural sector assessment, and broader economic policy advisory functions.

He described the initiative as both timely and important, adding that strong institutional partnerships are essential for strengthening evidence-based policymaking and improving the robustness of national data systems.

At the close of the event, Mr Anosike and Mr Sani Abdullahi signed the MoU on behalf of their respective institutions.

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POS Operators Barred Within 200 Metres of Police Stations

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IGP Tunji Disu

By Adedapo Adesanya

The Inspector-General of Police (IGP), Mr Tunji Disu, has ordered an immediate nationwide ban prohibiting Point-of-Sale (POS) operators from running their businesses within a 200-metre radius of any police station, divisional headquarters, or police formation across Nigeria.

This directive, released via an internal police wireless message, addresses critical systemic challenges regarding extortion and corrupt financial practices within law enforcement facilities.

The order is to be strictly enforced nationwide, with senior officers overseeing various formations to be held accountable for any breach of the directive.

The Nigeria Police Force stated that the measure is intended to strengthen transparency, accountability, and public confidence in the policing system.

The decision comes after an alarming proliferation of POS businesses near police facilities, with investigations and public complaints revealing that some operators were actively complicit in facilitating extortion, bribery, and illegal cash transfers forced upon civilians or suspects during police encounters.

Under the directive, Assistant Inspectors-General of Police (AIGs), State Commissioners of Police (CPs), and heads of formations will be held vicariously liable for any breach within their jurisdictions.

The IGP’s order states: “Any officer or POS merchant found flouting the 200-metre operational boundary or colluding in illicit transactions will face immediate disciplinary and criminal actions under extant laws.

“If you are a POS agent or looking into regulatory compliance for financial services in Nigeria, let me know. I can provide details on current Central Bank of Nigeria (CBN) radius registration guidelines or share methods to report officer misconduct directly to the Force Headquarters.”

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