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Tag: Onasanya

  • Loan controversy: Onasanya storms court to clear name

    Loan controversy: Onasanya storms court to clear name

    In a determined effort to prove his innocence and clear his name, the former group managing director of First Bank, Dr. Bisi Onasanya, yesterday, appeared before Justice Chukwujekwu Aneke, at the Federal High Court, in Lagos.

    Onasanya, alongside former First Bank Chairman Oba Otudeko; a Director at Honeywell Group, Soji Akintayo, and a firm, Anchorage Leisure Limited, is refuting allegations of fraud related to a commercial loan transaction at the bank during his time as the Group Managing Director.

    Onasanya’s appearance aligns with the commitment made by his lawyer, Adeyinka Olumide-Fusika, SAN, when the matter first came up in court on January 20, 2025.

    Another counsel for Onasanya, Olasupo Shashore, SAN, argued that although the former banker is determined to defend his innocence and clear his name, he aligns with the argument of Otudeko’s lawyers that the court should first hear the preliminary application challenging its jurisdiction before proceeding with the case.

    Chief Wole Olanipekun, SAN, who is the lead counsel for the 1st defendant (Otudeko), told the court the case is civil in nature because it concerns a bank-customer relationship and should not be treated as a criminal matter by the court.

    Ade Adedeji, SAN, counsel to the 4th defendant, Anchorage Leisure Limited, supported Chief Olanipekun (SAN), stating that the Economic and Financial Crimes Commission (EFCC) seemed determined to harass and intimidate his clients, despite the loan being fully repaid since 2017 and all parties having agreed to close the matter.

    “We filed a preliminary objection, but the EFCC has yet to reply. The loan, which is the subject of prosecution, has long been repaid since 2017, when the EFCC initially waded into the matter. There is clear evidence of repayment available. The continued pursuit of this case by the EFCC amounts to nothing but witch-hunting, intimidation, and harassment of the defendants. It is baffling why a matter that was resolved many years ago is suddenly being resurrected.”

    He said an application dated February 10, 2025 had been made, requesting the court to quash or decline jurisdiction over counts 1 to 10, alleging abuse of judicial process and a lack of prima facie evidence.

    EFCC Prosecutor Rotimi Oyedepo, SAN, countered, stating that the allegations in the 13-count charge stemmed from a detailed investigation.

    Following arguments from both parties, Justice Aneke adjourned the case to March 17, 2025, for ruling on the matter of jurisdiction.

    Olumide-Fusika (SAN), counsel to Onasanya, urged the court to allow his client to return home and appear in court on the next adjourned date, stating that Onasanya had complied with the earlier assurance by presenting himself before the court as a mark of respect for the judicial process. Justice Aneke granted the request, permitting Onasanya to go home and return for the next hearing on the adjourned date.

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    It would be recalled that Olumide-Fusika had, at the first sitting, condemned the manner in which the case had been handled, accusing the EFCC of subjecting his client to a ‘media trial’

  • Otudeko, Onasanya Arraignment Stalled Amidst Service of Process Controversy

    Otudeko, Onasanya Arraignment Stalled Amidst Service of Process Controversy

    The much-anticipated arraignment of prominent Nigerian businessman, Oba Otudeko, and former First Bank Managing Director, Stephen Onasanya, took an unexpected turn when their legal teams vehemently protested the lack of proper service of the charges. This procedural hurdle effectively stalled the proceedings, leaving the courtroom in a state of uncertainty.

    The Economic and Financial Crimes Commission (EFCC) has leveled a 13-count indictment against Otudeko, Onasanya, and several others, including former Honeywell board member, Soji Akintayo, and Anchorage Leisure Limited. These charges stem from allegations of obtaining a substantial N12.3 billion from First Bank through fraudulent means.

    The courtroom drama unfolded as defense lawyers, led by renowned legal luminaries Bode Olanipekun (SAN) and Olumide Fusika (SAN), argued that their clients had not been duly served with the charges, a fundamental requirement for a fair legal process.

    Fusika, representing Onasanya, expressed deep concern over the media trial his client had endured, emphasizing that such premature publicity could severely prejudice public opinion and undermine his right to a fair hearing.

    “My Lord, it is deeply concerning that my client has been subjected to intense media scrutiny without the formal service of charges. This not only compromises his right to a fair trial but also infringes upon his fundamental right to dignity,” Fusika stated, his voice laced with a sense of urgency.

    The EFCC, represented by Rotimi Oyedepo (SAN), countered these claims, asserting that multiple attempts had been made to serve the defendants at their last known addresses. While acknowledging the presence of media reports on the impending arraignment, Oyedepo vehemently denied any involvement by the EFCC in disseminating such information. He suggested that journalists may have independently gathered information through other sources.

    “My Lord, we categorically deny any involvement in the release of any information to the media regarding this case,” Oyedepo stated, seeking to distance the commission from any perceived attempts to influence public opinion.

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    Despite the initial impasse, the court ultimately allowed Fusika to accept service of the charges on behalf of his client. This procedural maneuver paved the way for the court to adjourn the proceedings until February 13th, a date set for the formal arraignment of the defendants.

    The EFCC alleges that the defendants engaged in a complex web of fraudulent activities between 2013 and 2014. These alleged offenses include conspiracy to defraud First Bank, obtaining loans under false pretenses, and engaging in sophisticated money laundering schemes.

    The charges further allege the use of forged documents to deceive the bank and secure credit facilities for various entities, including V-Tech Dynamic Links Limited and Stallion Nigeria Limited.

    This case has captivated public attention, highlighting the gravity of financial crimes and the ongoing efforts of law enforcement agencies to combat such illicit activities. The upcoming arraignment promises to be a pivotal moment in this legal saga, with far-reaching implications for the defendants and the financial landscape of Nigeria.