{"id":170937,"date":"2025-07-24T09:16:15","date_gmt":"2025-07-24T08:16:15","guid":{"rendered":"https:\/\/www.africa-press.net\/nigeria\/uncategorized\/efcc-withdraws-case-against-oba-otudeko-business-icon"},"modified":"2025-07-24T10:15:44","modified_gmt":"2025-07-24T09:15:44","slug":"efcc-withdraws-case-against-oba-otudeko-business-icon","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/nigeria\/economy\/efcc-withdraws-case-against-oba-otudeko-business-icon","title":{"rendered":"EFCC Withdraws Case Against Oba Otudeko Business Icon"},"content":{"rendered":"

Africa-Press – Nigeria. <\/strong><\/span>The Economic and Financial Crimes Commission (EFCC) has formally withdrawn the 13-count charge filed before the Federal High Court in Lagos against Chief Oba Otudeko, CFR, Chairman of Honeywell Group, and three other defendants. This marks a decisive conclusion to proceedings initiated in January 2025 regarding alleged non-performing loan transactions.<\/p>\n

The foremost industrialist and philanthropist has long expressed confidence in the robustness of Nigeria\u2019s judicial system, asserting from the outset that the matter was civil in nature and had been fully resolved eight years ago.<\/p>\n

In a statement by Olasumbo Abolaji, Counsel to Honeywell Group, she reaffirmed the company\u2019s unwavering commitment to good governance, transparency, and responsible corporate conduct. \u201cDr. Otudeko has for over six decades contributed to Nigeria\u2019s economic and institutional development, including distinguished tenures across banking, industry, and public service. His leadership of First Bank was defined by stability, stewardship, and strategic vision.\u201d<\/p>\n

According to the group, \u201cthe development marks the closure of a chapter that, while challenging, never diminished our confidence in Dr. Otudeko\u2019s integrity or our belief in the principles that have guided his life and leadership. At no point was there any finding or admission of wrongdoing, and this conclusion further affirms what we have always maintained: that this was a commercial transaction, which was investigated by the EFCC and resolved eight years ago. Dr. Otudeko\u2019s record of service, enterprise, and nation-building stands firm and unblemished.\u201d<\/p>\n

During the proceeding earlier today, Rotimi Oyedepo, SAN, appearing on behalf of EFCC, informed the court that following a comprehensive review of the representations submitted by all relevant parties, including those from the complainant, First Bank of Nigeria, and the defence counsel, the Honourable Attorney General of the Federation (AGF) has exercised his constitutional discretion to discontinue the prosecution.<\/p>\n

Citing the overriding interest of justice, public policy, and the need to forestall abuse of judicial process, Mr. Oyedepo stated that the Attorney-General of the Federation concluded that it was no longer in the public interest to pursue the matter.<\/p>\n

The case withdrawal by the agency restores certainty to stakeholders across Nigeria\u2019s financial markets, reinforcing confidence in institutional processes and highlighting the institutional checks that protect commercial engagements.<\/p>\n

For More News And Analysis About Nigeria<\/span> Follow Africa-Press<\/span><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Nigeria. The Economic and Financial Crimes Commission (EFCC) has formally withdrawn the 13-count charge filed before the Federal High Court in Lagos against Chief Oba Otudeko, CFR, Chairman of Honeywell Group, and three other defendants. This marks a decisive conclusion to proceedings initiated in January 2025 regarding alleged non-performing loan transactions. The foremost […]<\/p>\n","protected":false},"author":84,"featured_media":170936,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,15],"tags":[68,254,18136],"class_list":["post-170937","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-efcc","tag-nigeria","tag-oba-otudeko"],"yoast_head":"\nEFCC Withdraws Case Against Oba Otudeko Business Icon - Nigeria<\/title>\n<meta name=\"description\" content=\"The Economic and Financial Crimes Commission (EFCC) has formally withdrawn the 13-count charge filed before the Federal ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/nigeria\/economy\/efcc-withdraws-case-against-oba-otudeko-business-icon\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"EFCC Withdraws Case Against Oba Otudeko Business Icon\" \/>\n<meta property=\"og:description\" content=\"The Economic and Financial Crimes Commission (EFCC) has formally withdrawn the 13-count charge filed before the Federal ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/nigeria\/economy\/efcc-withdraws-case-against-oba-otudeko-business-icon\" \/>\n<meta property=\"og:site_name\" content=\"Nigeria\" \/>\n<meta property=\"article:published_time\" content=\"2025-07-24T08:16:15+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-07-24T09:15:44+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2025\/07\/sm_1753336062.280897.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"411\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/efcc-withdraws-case-against-oba-otudeko-business-icon#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/efcc-withdraws-case-against-oba-otudeko-business-icon\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"EFCC Withdraws Case Against Oba Otudeko Business Icon\",\"datePublished\":\"2025-07-24T08:16:15+00:00\",\"dateModified\":\"2025-07-24T09:15:44+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/efcc-withdraws-case-against-oba-otudeko-business-icon\"},\"wordCount\":383,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/efcc-withdraws-case-against-oba-otudeko-business-icon#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nigeria\/sites\/3\/2025\/07\/sm_1753336062.280897.jpg\",\"keywords\":[\"EFCC\",\"Nigeria\",\"Oba Otudeko\"],\"articleSection\":[\"all news\",\"Economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/nigeria\/economy\/efcc-withdraws-case-against-oba-otudeko-business-icon#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/efcc-withdraws-case-against-oba-otudeko-business-icon\",\"url\":\"https:\/\/www.africa-press.net\/nigeria\/economy\/efcc-withdraws-case-against-oba-otudeko-business-icon\",\"name\":\"EFCC Withdraws Case Against Oba Otudeko Business Icon - 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