Dr. Oba Otudeko, the former chairman of First Bank of Nigeria (FBN), has reportedly left Nigeria amid serious fraud allegations. The Economic and Financial Crimes Commission (EFCC) has filed a 13-count charge against him and three co-defendants, including Stephen Olabisi Onasanya, a former group managing director of FBN, and Soji Akintayo, an ex-board member of Honeywell Flour Mills. They are accused of acquiring loans totaling N30 billion under false pretenses.
Sources indicate that Otudeko exited the country through a land border, specifically at the Nigeria-Benin border, accompanied by a family member. Efforts to reach him for comments were unsuccessful, as his phone was reportedly switched off and he did not respond to messages sent via WhatsApp.
In a statement from Honeywell Group, Otudeko denied the allegations and highlighted that he had not been formally summoned by the EFCC. He expressed his intention to fully cooperate with authorities and defend his reputation. The case is set for arraignment at the Federal High Court in Lagos on Monday.
