The Economic and Financial Crimes Commission (EFCC) has filed a 13-count charge against Oba Otudeko, a former chairman of First Bank Nigeria (FBN), and three others over alleged fraud.
The three other defendants are Stephen Olabisi Onasanya, a former group managing director of FBN; Soji Akintayo, an ex-board member of Honeywell Flour Mills plc; and Anchorage Limited, a company linked to Otudeko.
The anti-graft agency filed the charges at the federal high court in Lagos Today.
The EFCC said the defendants will be arraigned on Monday
The EFCC accused Otudeko and the other defendants of obtaining tranches of loans—N12.3 billion, N5.2 billion, N6.2 billion, N6.1 billion, and N1.5 billion—from First Bank under the pretence that the funds were obtained by some firms.
First Bank chronic debtors are in for a long and painful ride. The Chairman, Otedola of the tier 1st financial conglomerate leaves no stones unturned