Headlines
EFCC to Arraign Oba Otudeko, Onasanya, Others for Alleged N12.3bn Fraud
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The Economic and Financial Crimes Commission (EFCC) has filed a 13-count criminal charge against the Chairman, Honeywell Group, Oba Otudeko and a former Managing Director of First Bank, Olabisi Onasanya for allegedly obtaining the sum of N12.3billion from First Bank.
They are to be arraigned on Monday, January 20, 2025, before Justice Chukwuejekwu Aneke of the Federal High Court, Lagos.
They will be arraigned alongside, a former member of the board of directors of Honeywell Flour Mills Plc, Soji Akintayo and a company linked to Otudeko, named Anchorage Leisure Ltd.
All four were listed as defendants in the suit filed by an EFCC prosecutor, Bilkisu Buhari-Bala on January 16, 2025.
According to the EFCC, the four committed the fraud in tranches of N5.2billion, N6.2billion, N6.150billion, N1.5billion and N500million, between 2013 and 2014 in Lagos.
In proof of the charge against the defendants, the EFCC intends to call representatives of First Bank including Cecelia Majekodunmi, Ola Michael Aderogba, Abiodun Olatunji, Raymond Eze, Abiodun Odunbola and Adeeyo David all of whom are expected to give evidence of the fraudulent misrepresentation of the Defendants and tender relevant documents.
The EFCC will also rely on the testimonies of representatives of Central Bank of Nigeria, representatives of Stallion Nigeria Limited and representatives of V-tech Dynamics Ltd.
Also included in the EFCC’s list of witnesses are one Farida Abubakar and Adaeze Nwakoby.
According to the Commission, the offences contravene Section 8(a) of Advance Fee Fraud and Other Fraud Related Offences Act 2006 and were punishable under Section 1 (3) of the same Act.
Count 1 of the charge says that Chief Oba Otudeko, Stephen Olabisi Onasanya, Soji Akintayo and Anchorage Leisure Limited between 2013 and 2014 in Lagos, within the jurisdiction of this Honourable Court conspired amongst yourselves to obtain the sum of N12,300,000,000.00 (Twelve Billion, Three Hundred Million Naira Only),from First Bank Limited on the pretence that the said sum represented credit facilities applied * for by V- Tech Dynamic Links Limited and Stallion Nigeria Limited, which representation you know to be false, and you thereby committed an offence contrary to Section 8(a) of Advance Fee Fraud and other Fraud Related Offences Act 2006 and punishable under Section 1(3) of the same Act.
In Count 2, it was alleged that the defendants, on or about 26th day of November, 2013 in Lagos, “obtained the sum of N5.2 Billion from First Bank Limited on the pretence that the said sum represented credit facilities applied for by V Tech Dynamic Links Limited which representation you know to be false.”
The 3rd count claims that the defendants, between 2013 and 2014 in Lagos, obtained N6.2 Billion from First Bank Limited on the pretence that the said sum represented credit facilities applied for and disbursed to Stallion Nigeria Limited, which representation you know to be false.”
County 4 reads, that you, Chief Oba Otudeko, Stephen Olabisi Onasanya, Soji Akintayo and Anchorage Leisure Limited on or about 26th day of November 2013 in Lagos, within the jurisdiction of this Honourable Court conspired amongst yourselves to use the total sum of N6,150,000,000,.00 (Six Billion, One Hundred and Fifty Million Naira Only.), which sum you reasonably ought to have known forms part of proceeds of your unlawful activities to wit: Obtaining by False Pretence and you thereby committed an offence contrary to Sections 18(a), 15 (2) (d) of the Money Laundering (Prohibition) Act, 2011 (as amended) and punishable under Section 15(3) of the same Act.
Count 5 accuses Chief Oba Otudeko, Stephen Olabisi Onasanya, Soji Akintayo and Anchorage Leisure Limited on or about 11th day of December, 2013 in Lagos, procured Honeywell Flour Mills Plc to retain the sum of N1.5 billion, which sum you reasonably ought to have known forms part of proceeds of your unlawful activities to wit: Obtaining by False Pretence and you thereby committed an offence contrary to Section 18(c), 15 (2) (d) of the Money Laundering (Prohibition) Act, 2011 (as amended) and punishable under Section 15(3) of the same Act.
Headlines
Tinubu Spent Millions of Dollars to Hide ‘Drug’ Records, US Firm Alleges
A United States-based policy advisory and lobbying firm, Von Batten-Montague-York, has alleged that Nigeria’s President, Bola Tinubu, spent millions of dollars to prevent the release of records of his alleged drug trafficking case.
Von Batten-Montague-York made this allegation in a post on its verified X handle late Tuesday.
According to the firm, Tinubu’s claim that he was not attempting to block the release of the records is contradictory to the action of his own legal team in the ongoing Freedom of Information Act (FOIA) case.
It accused Tinubu of having petitioned the court and consulted with the Federal Bureau of Investigation (FBI) and Drug Enforcement Administration, DEA, as part of efforts to prevent the records from being released.
“Despite claiming innocence, Tinubu has spent millions of dollars to ensure that his drug trafficking records are never released.
“The description of the underlying matter is merely a civil case. The involvement of US law-enforcement agencies in the records dispute demonstrated that the matter involved sensitive investigative material,” the firm said.
The latest allegation from the firm came against the backdrop of the ongoing legal battle over the release of records held by the US Department of Justice, DOJ, FBI and DEA, concerning historical investigations involving Tinubu.
United States District judge, Beryl Howell, had granted Donald Trump-appointed attorney, Jeanine Pirro, additional days to release the alleged drug-trafficking records.
Tinubu had joined the request of the US Department of Justice for a 10-day extension to respond to a motion seeking the release of records relating to allegations of drug trafficking.
Headlines
Tanzania’s Vice President Emmanuel Nchimbi Resigns
Born on December 24, 1971, in the Mbeya Region, Dr Emmanuel John Nchimbi grew up in a family rooted in public service. His father, Mzee John Nchimbi, hailing from Songea District, served as an Assistant Commissioner of Police (ACP) and Regional Police Commander for Mtwara.
Beyond his law enforcement career, the elder Nchimbi was actively involved in politics, serving two terms as a National Executive Committee (NEC) member for Chama Cha Mapinduzi (CCM) through the armed forces wing and later as a CCM regional secretary.
Dr Nchimbi began his primary education at Oysterbay Primary School in Dar es Salaam from 1980 to 1986. He pursued his O-Level studies at Uru Secondary School (Form I to III) from 1987 to 1989 before transferring to Sangu Secondary School, where he completed Form IV in 1990.
He then moved to Forest Hill Secondary School in Mbeya for his A-Level education between 1991 and 1993.
Advancing to higher education, Dr Nchimbi earned an Advanced Diploma in Administration from the Institute of Development Management (IDM) Mzumbe in Morogoro between 1994 and 1997.
Upon graduating, his political trajectory accelerated rapidly: he was elected as a member of CCM’s National Executive Committee (NEC), and by 1998, he was elected Chairman of the CCM Youth Wing (Umoja wa Vijana wa Chama cha Mapinduzi – UVCCM).
Alongside his rising political responsibilities, Dr Nchimbi built a professional background in public service and academia. He worked at the National Environment Management Council (NEMC) from 1998 to 2003.
During this period, he pursued further studies, obtaining a Master of Business Administration (MBA) specialising in Banking and Finance from Mzumbe University between 2001 and 2003. He was later appointed District Commissioner for Bunda (2003–2005) and went on to complete a Doctorate (PhD) at Mzumbe University between 2008 and 2011.
He served in that capacity until October 2006, when he was reshuffled to serve as Deputy Minister for Labour, Employment, and Youth Development until February 2008. He subsequently served as Deputy Minister for Defence and National Service until November 2010.
Source: The Star
Headlines
Tinubu Orders Arrest, Suspension of Three Perm Secs As ICPC Uncovers Another Fake Govt Agency
President Bola Tinubu on Friday ordered the immediate arrest and suspension of three federal Permanent Secretaries over their alleged involvement in the operation of another fake agency uncovered by the Independent Corrupt Practices and Other Related Offences Commission (ICPC).
ICPC Chairman, Dr Musa Adamu Aliyu, who disclosed this to newsmen after briefing President Tinubu on the latest findings from the commission’s ongoing investigation into fictitious agencies and weaknesses in public sector processes named the affected Permanent Secretaries to include M S Danjuma, Engr Nadungu Gagare, and Richard Pheelangwah.
The Commision’s latest discovery is coming barely few weeks after exposing the fictitious Presidential Foreign Intervention Promotion Council (PFIPC).
According to Aliyu, the newly uncovered entity, operating as National Brands Development and Made-in-Nigeria Special Project Office, had allegedly secured office accommodation within the premises of the Office of the Secretary to the Government of the Federation (OSGF) without authorisation from the President.
The discovery, he said, was made during the broader investigation into the PFIPC, which President Tinubu had directed the ICPC to undertake.
The fake agency, according to ICPC boss, was promoted by Prince George Buchi Nwabueze, who allegedly operated under several variations of his name, including George Nathan Nwabueze, Honourable George Buchi Nwabueze, Prince George Buchi Nwabueze and George Buchi Nwabueze.
Aliyu disclosed that the commission was engaging relevant officials in the Office of the Secretary to the Government of the Federation to establish how the purported agency came to operate from government premises and to obtain other vital information required for the investigation.
“I have briefed Mr President comprehensively on these new developments. ICPC will continue with its investigation,” he said.
Following the fresh findings, Aliyu said President Tinubu had directed the immediate arrest of Prince George Buchi Nwabueze, as well as the immediate suspension of the three named permanent secretaries.
The commission is expected to establish the roles played by the suspended officials and other individuals in the emergence and operation of the purported agency.
Aliyu said the latest discovery underscored the need for tighter controls and greater scrutiny of government institutions and internal administrative processes.
He commended President Tinubu for ordering a wider policy audit of federal agencies and government processes, describing the initiative as a proactive measure to strengthen the governance system.
His said: “President Bola Tinubu must be commended for the proactive step of directing the policy audit of MDAs and internal government processes towards strengthening government governance system.”
The latest development has widened the scope of the ICPC’s investigation into the proliferation of fictitious government entities and alleged exploitation of official structures by individuals seeking to create the impression of government authority.
The commission’s investigation into the PFIPC was initiated after the purported agency came under scrutiny, with the President subsequently directing the ICPC to unravel those behind its operations and determine whether public officials facilitated its activities.
With the discovery of another purported agency operating from government premises, the ICPC probe is now expected to examine broader institutional weaknesses that may have enabled unauthorised entities to gain access to federal government facilities and present themselves as legitimate government bodies.






