The Economic and Financial Crimes Commission (EFCC) has withdrawn the fraud charges filed against the former Chairman of First Bank, Oba Otudeko.
The EFCC counsel, Rotimi Oyedepo (SAN), announced the withdrawal before the Federal High Court in Lagos on Wednesday, July 23, 2025.
The presiding judge, Justice Chukwujekwu Aneke, struck out the charges, following EFCC’s information to the court that parties had achieved full settlement in the case.
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The anti-graft agency had, in January 2025, filed the charges against Otudeko and three others over an alleged N30 billion loan fraud.
The three others are former Managing Director of First Bank, Olabisi Onasanya; a former board member of Honeywell, Soji Akintayo; and a firm, Anchorage Leisure Limited.
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