The Federal High Court in Lagos has struck out the ₦12.3 billion fraud charge filed by the EFCC against Honeywell Group Chairman, Oba Otudeko, and three others.
The case was discontinued after the EFCC informed the court that First Bank of Nigeria, the nominal complainant, had reached an amicable settlement with Otudeko and formally withdrew its complaint.
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The Attorney General of the Federation approved the withdrawal after confirming that the disputed funds had been fully recovered and returned to First Bank’s treasury.
Justice Chukwujekwu Aneke struck out the case following confirmation from all defence counsel that the matter had been resolved.
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