Oba Otudeko, the embattled former chairman of First Bank of Nigeria (FBN), has reportedly fled Nigeria through one of the country’s land borders to avoid his pending trial by the Economic and Financial Crimes Commission, EFCC.
Otudeko reported escaped to the nearby Benin Republic en route to a European country through the Idi-Iroko border in Ogun State, on Thursday
He reportedly fled the country ahead of his scheduled arraignment by the Economic and Financial Crimes Commission (EFCC) on fraud charges.
A report by Leadership Newspaper, quoting Sources familiar with the situation, revealed that Otudeko left Nigeria on Thursday evening, crossing into Benin via one of the country’s land borders. It is said that a family member dropped him off at the Nigeria-Benin border.
This move came just hours after the EFCC filed a 13-count charge against Otudeko and three other individuals at the Federal High Court in Lagos. The charges accuse them of fraudulently obtaining a N30 billion loan under false guise
Other individuals named in the case include Stephen Olabisi Onasanya, former Group Managing Director of First Bank; Soji Akintayo, former board member of Honeywell Flour Mills Plc; and Anchorage Limited, a company associated with Otudeko.
The EFCC had planned to arraign the defendants on Monday.
However, Otudeko’s sudden departure has raised questions about how the agency will proceed with the case.
At the time of writing, attempts to reach Otudeko or his representatives for comment were unsuccessful.
