The Federal High Court in Lagos has struck out the ₦12.3 billion fraud charge against Honeywell Group Chairman, Oba Otudeko, after the EFCC formally withdrew the case.
EFCC’s counsel, Rotimi Oyedepo (SAN), informed the court that the matter had been amicably resolved between Otudeko and First Bank of Nigeria, the complainant.
Otudeko’s lawyer, Bode Olanipekun (SAN), also confirmed that all disputes had been settled, with full repayment made by the defendant.
Oyedepo said the Attorney General of the Federation had been notified and approved the discontinuation in the interest of justice and to prevent abuse of court process.
Justice Chukwujekwu Aneke struck out the case following the formal withdrawal.
