Court Mandates Arraignment of Otudeko, Others in Alleged ₦12.3 Billion Fraud Case
A Federal High Court in Lagos has ordered the arraignment of Oba Otudeko, former Chairman of First Bank of Nigeria Plc, and Bisi Onasanya, the bank’s former Managing Director, over an alleged ₦12.3 billion fraud. The ruling, delivered by Justice Aneke on Monday, emphasized that the defendants must be formally arraigned before any preliminary objections or applications can be considered.
The court’s decision was based on established legal principles, citing precedents such as Onnoghen v. FRN and Bello v. FRN. Justice Aneke stated that an arraignment is a mandatory step before any other legal processes can proceed.
“The issue before the court is whether the processes can be taken before the arraignment of the defendants. Any preliminary objection to the validity of a charge can only be heard after the plea is taken. This is now a condition precedent, and this court is bound by the decision. I agree with the learned counsel for the prosecution—no preliminary objection can be taken without the arraignment of the defendants. This is my view,” Justice Aneke ruled.
Settlement Discussions and Adjournment
During the proceedings, defense counsel Olanipekun informed the court that the parties were exploring a settlement and requested an adjournment to provide an update on the discussions. However, prosecuting counsel Bilkisu Buhari-Bala countered, insisting that the case should proceed with either the arraignment or a report on the settlement efforts.
Despite the defense’s repeated arguments for an adjournment strictly for a settlement report, Buhari-Bala maintained her position, urging the court to ensure the case moves forward.
Justice Aneke subsequently adjourned the case to May 8, 2025, for either the arraignment or a report on the settlement discussions.
Details of the Alleged Fraud
According to the charge sheet, the defendants allegedly committed the offense in September 2023 on Lagos Island. Otudeko was accused of impersonating one Amanda Glory on Instagram to obtain fraudulent gains. The alleged actions violate Section 22(2)(b) of the Cybercrime (Prohibition) Act, 2015, and Section 18(1)(a) of the EFCC Act, 2004.
Legal Implications
The court’s ruling underscores the importance of adhering to legal procedures, particularly the requirement for defendants to be formally arraigned before any other applications can be entertained. This decision aligns with Nigeria’s judicial principles, ensuring that due process is followed in criminal proceedings.
The case has drawn significant attention due to the high-profile nature of the defendants and the substantial sum involved. If convicted, the defendants could face severe penalties under the Cybercrime Act and the EFCC Act, including lengthy prison terms and hefty fines.
Next Steps
The adjournment to May 8, 2025, provides both parties with time to either finalize settlement discussions or prepare for the arraignment. The outcome of this case could have far-reaching implications for corporate governance and accountability in Nigeria’s financial sector.
