Justice Aneke Rules Otudeko Must Take Plea Before Jurisdiction Challenge
A Federal High Court sitting in Lagos has ordered Nigerian billionaire and former Chairman of Honeywell Group, Oba Otudeko, to appear in court and take a plea regarding the N30 billion fraud charges filed against him by the Economic and Financial Crimes Commission (EFCC).
The ruling, delivered by Justice Chukwujekwu Aneke on Monday, March 17, 2025, underscores the seriousness of the allegations, as the court insists that Otudeko must first be arraigned before any challenge to its jurisdiction can be entertained.
EFCC’s Case Against Otudeko
The EFCC has filed a 13-count charge against Otudeko and three other defendants, accusing them of involvement in an alleged fraudulent N30 billion loan scheme.
The details of the case suggest that the anti-graft agency is investigating alleged financial mismanagement and fraudulent transactions linked to Honeywell Group’s dealings with certain financial institutions.
At the court hearing, Justice Aneke ruled that Otudeko must appear to formally enter a plea before the court can consider an application challenging its jurisdiction. This ruling puts increased pressure on the billionaire, who has previously denied any wrongdoing.
Legal Tussle: Otudeko’s Defense Fights Back
Otudeko’s legal team, led by Bode Olanipekun (SAN), has been pushing back against the allegations.
Last month, on January 20, 2025, Olanipekun filed a strong protest in the Lagos Court, questioning the legal basis of the charges.
While Otudeko has consistently maintained his innocence, arguing that the charges are “baseless and politically motivated,” the court’s latest ruling means he will have to physically appear for trial to enter a plea before any jurisdictional argument can be considered.
Next Steps in the Case
With the court ruling in favor of proceeding with the plea, the case has now been adjourned to May 8, 2025. This means:
- Otudeko must appear in court on the adjourned date.
- The court will formally read out the 13-count charges against him.
- Otudeko will be required to plead either guilty or not guilty.
- Only after his plea will his lawyers be allowed to challenge the court’s jurisdiction.
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What This Means for the Nigerian Business Community
This case is closely watched within Nigeria’s corporate and financial circles, as Otudeko is a highly influential figure in the Nigerian business world.
- As the former Chairman of First Bank Nigeria, his past financial dealings are now under intense scrutiny.
- His association with Honeywell Group, a major player in Nigeria’s manufacturing and financial sector, has further heightened public interest in the case.
- A conviction in such a high-profile case could have far-reaching consequences for corporate accountability in Nigeria.
Otudeko’s Position: Denial and Reputation Management
Otudeko, through his representatives, has maintained that the allegations are politically motivated and based on false claims.
His defense team argues that:
- The loan transactions in question were legitimate and fully accounted for.
- The EFCC’s case lacks concrete evidence of fraudulent intent.
- The charges are a tactic to damage his reputation and business empire.
Despite these claims, the court’s ruling means he will have no choice but to appear and formally address the accusations in a legal setting.
Final Thoughts: What to Expect on May 8
As the case progresses, legal experts suggest that Otudeko’s legal team may file fresh motions to challenge the case even after he takes his plea. However, with the court’s current stance, any attempt to delay proceedings may be met with resistance.
The business community, legal observers, and the public will now be watching closely to see how the trial unfolds and whether Nigeria’s judicial system will deliver a fair and transparent process.
For now, all eyes are set on May 8, 2025, when the billionaire businessman will finally have to stand before the court and respond to the charges against him.