* As AGF Fagbemi backs out-of-court settlement
The Federal High Court sitting in Lagos has ordered Nigerian billionaire businessman, Oba Otudeko, to take a plea in the charges filed against him by the Economic and Financial Crimes Commission (EFCC).
Justice Chukwujekwu Aneke issued the order on Monday.
This comes after the anti-graft commission had filed a 13-count charge against Otudeko, who doubled as Chairman of Honeywell group and three others over an alleged N30 billion loan fraud
At the hearing of the matter on Monday, the judge insisted that Otudeko must take his plea before an application challenging the court’s jurisdiction in the case can be decided.
Justice Aneke subsequently adjourned the case to May 8.
Meanwhile, the adjournment is to allow for settlement talks, initiated under the supervision of the office of the Attorney General of the Federation, between FBN Chairman Femi Otedola and Dr Oba Otudeko to progress.
The discussions began the week prior, and the judge requested an update on their progress at the next hearing on May 8, 2025.
Prior to the court appearance on March 17, 2025, all parties met with the Attorney General of the Federation, who weighed in on the case and requested that the parties enter settlement talks to resolve the issue.