The Chairman of Honeywell Group, Oba Otudeko, and Olabisi Onasanya, the former Managing Director of First Bank, were absent from the High Court in Lagos on Monday for their scheduled arraignment on a 13-count charge of allegedly misappropriating N12.3 billion from First Bank.
Both individuals were, however, represented by legal counsel. Bode Olanipekun (SAN), counsel for Otudeko, informed Justice Chukwuejekwu Aneke that his appearance was to lodge a protest, as the charge had not been served on his client or the other defendants.
Other defendants in the case include Soji Akintayo, a former board member of Honeywell Flour Mills Plc, and Anchorage Leisure Ltd, a company associated with Otudeko.
Olanipekun further stated that despite not being formally served, the defendants were taken aback to learn of the planned arraignment through media reports after the news broke last Thursday.
