Oba Otudeko, the former chairman of First Bank of Nigeria (FBN), has left Nigeria unexpectedly. Reports suggest that he departed through one of the country’s land borders amid an ongoing investigation by the Economic and Financial Crimes Commission (EFCC).
Sources reveal that Otudeko was dropped off at the Nigeria-Benin border by a family member. Efforts to reach him have been unsuccessful, as his phone is switched off, and messages sent to his WhatsApp have gone unanswered. Similarly, his son, Obafemi Otudeko, has not responded to calls or messages about his father’s whereabouts.
This development follows the filing of a 13-count charge against Otudeko by the EFCC at the Federal High Court in Lagos. The charges include allegations of fraud involving a N30 billion loan obtained under false pretenses. The EFCC has named three other defendants in the case: Stephen Olabisi Onasanya, a former FBN group managing director; Soji Akintayo, a former board member of Honeywell Flour Mills; and Anchorage Limited, a company linked to Otudeko.
The EFCC claims that loans totaling N31.3 billion were secured from First Bank between 2013 and 2014 under false pretenses. These allegations are part of a broader investigation into financial misconduct.
In response, Otudeko, through a statement from Olasumbo Abolaji, general counsel of Honeywell Group, denied the allegations. He stated, “Dr Oba Otudeko is always ready and available to assist any government agency with appropriate oversight in the execution of their duties, with the expectation that these affairs will be conducted with the highest standard of professionalism.”
At 81, Otudeko highlighted his focus on mentoring future business leaders and contributing to societal development. He expressed confidence that the truth will emerge and that he will address the allegations through the appropriate legal channels.
