After nearly a decade of legal back and forth, the Federal High Court in Lagos has finally struck out the EFCC’s criminal case against Honeywell Group chairman, Oba Otudeko.
The decision came on Wednesday after all parties confirmed that the matter had been resolved in full.
Justice Chukwujekwu Aneke declared: “This charge is hereby struck out.”
The EFCC had filed a 13-count charge against Otudeko, former First Bank MD Olabisi Onasanya, Honeywell board member Soji Akintayo, and Anchorage Leisure Ltd.
But following a series of meetings led by the Attorney General’s office, both prosecution and defence reached a peace agreement.
Settled Behind Closed Doors
Senior lawyers, including Rotimi Oyedepo (SAN) and Bode Olanipekun (SAN), appeared before the court and confirmed the settlement.
Counsel to the nominal complainant, First Bank, also gave confirmation. The EFCC, citing Section 180 of the Administration of Criminal Justice Act, said the case was dropped to protect public interest and avoid misuse of court time.
“All outstanding issues between the first defendant and the nominal complainant have been resolved,” said Olanipekun.
The EFCC added that the matter was “a commercial dispute investigated and resolved since 2016.”
No details were shared about the terms of the settlement, but it was made clear there was no admission or finding of wrongdoing.
Honeywell: Otudeko’s Integrity Remains Intact
Honeywell Group, in a statement signed by counsel Olasumbo Abolaji, welcomed the judgment. The company said the dismissal reaffirmed Otudeko’s character.
“This development marks the closure of a chapter that, while challenging, never diminished our confidence in Otudeko’s integrity,” the company said.
It added: “At no point was there any finding or admission of wrongdoing.”
Honeywell also praised Otudeko’s legacy, stating: “For over six decades, he has contributed significantly to Nigeria’s economic and institutional development.”
Otudeko is widely recognised for his influence in Nigeria’s business landscape, with contributions spanning food, energy, banking, and infrastructure.
The group said it remains committed to “creating value through enterprise in food, energy, infrastructure, and financial services.”
“As we move forward, we do so strengthened by experience, focused on the future,” the statement added.
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