By Atoyebi Nike
A Federal High Court in Lagos has struck out the EFCC’s 13-count charge against Honeywell Group Chairman, Oba Otudeko, and others, following confirmation that all parties, including First Bank Plc, reached a full settlement.
Justice Chukwujekwu Aneke ruled in favour of discontinuation after EFCC prosecutor Rotimi Oyedepo (SAN) cited Section 180 of the Administration of Criminal Justice Act, noting the Attorney General’s decision to end the case in the public interest.
In a statement, Honeywell Group welcomed the ruling, saying it reaffirms Otudeko’s integrity and confirms the matter was a commercial dispute, not criminal wrongdoing.
“At no point was there any finding or admission of wrongdoing,” the company stated.
The case, first initiated eight years ago, is now formally closed.
