Court adjourns, awaits settlement report in N12bn lawsuit against Otudeko, Onasanya 

The Federal High Court, Lagos Division, on Monday adjourned a case against the chairman of Honeywell Group, Oba Otudeko, and others until May 8 for a out of court report on settlement. Justice Chukwujekwu Aneke granted the adjournment after the first defence counsel, Wole Olanipekun, informed the court that the parties were exploring a settlement. He stated that a meeting involving all counsel had been convened at the attorney general’s instance to facilitate a peaceful resolution. The Economic and Financial Crimes Commission had filed a 13-count charge against Mr Otudeko, former First Bank managing director Olabisi Onasanya, former Honeywell board member Soji Akintayo, and Anchorage Leisure Ltd.
The N12.3 billion case is marked FHC/L/20C/2025. The case was initially set for arraignment on January 20, but the defendants were absent, claiming they had not been served with the charge. At the last hearing on February 13, defence counsel argued that the court should first hear their preliminary objections rather than proceed with the arraignment. Delivering a ruling on Monday, Mr Aneke held that it was a settled legal principle that a defendant’s plea must be taken before any preliminary objection can be heard. The court relied on precedents, including Onnoghen v. FRN and Bello v. FRN, and ruled that arraignment must precede any objections.
Following the ruling, Mr Olanipekun informed the court that settlement discussions were ongoing. He said a meeting was held on March 12 involving all parties, including the prosecution, under the attorney general’s supervision. He requested an adjournment for a report on the settlement. Other defence counsels, including Messrs Kehinde Ogunwumiju, Olumide Fusika and Charles Adeosun-Phillips, supported the request. They urged the court to grant an adjournment solely for a settlement report, without setting an arraignment date, to avoid prejudicing the discussions. Although the prosecution’s counsel, Bilikisu Buhari, suggested an adjournment for either a settlement report or arraignment, the defence insisted on allowing settlement efforts to proceed uninterrupted. The court granted the defence’s request and adjourned the case until May 8 for a report on the settlement. NAN