The Economic and Financial Crimes Commission (EFCC) will arraign the Chairman of Honeywell Group, Chief Oba Otudeko, and a former Managing Director of First Bank, Olabisi Onasanya for alleged N12.3 billion at the Federal High Court, Lagos, on Monday.
The duo will be arraigned alongside two others on a 13-count charge of fraud for allegedly obtaining the money from First Bank.
Other defendants are the former member of the Honeywell Flour Mills Board of Directors, Soji Akintayo and a company named Anchorage Leisure Limited.
The company was linked to Otudeko.
In the charge filed by its counsel, Bilkisu Buhari-Bala, on Thursday, the EFCC alleged that the quartet obtained the money from First Bank in tranches of N5.2 billion, N6.2 billion, N6.150 billion, N1.5 billion, and N500 million between 2013 and 2014 in Lagos.
The commission added that the offences contravened Section 8(a) of the Advance Fee Fraud and Other Fraud Related Offences Act 2006 and were punishable under Section 1 (3) of the same Act.
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