A Federal High Court sitting in Lagos, on Thursday, adjourned until June 11, for parties to continue their settlement talks, in the case between the Economic and Financial Crimes Commission (EFCC), First Bank, the Chairman of Honeywell Group, Oba Otudeko, and others.
Justice Chukwujekwu Aneke adjourned the case for a report of settlement, following the agreement by the parties that negotiations talks were still on.
Bode Olanipekun, SAN, who is representing Oba Otudeko, told the court that it was necessary to grant an adjournment of the case to allow the negotiations to continue.
The prosecutor, Mrs Bilikisu Buhari-Bala, confirmed the position to the court but added that the case be adjourned for report of settlement or an arraignment of the defendants, if the settlement talks breakdown.
The court has now adjourned the case until June 11 for report of settlement or arraignment.
Background
The EFCC had preferred a 13-count charge against Otudeko and a former Managing Director of First Bank Plc, Olabisi Onasanya.
Also charged is a former board member of Honeywell, Soji Akintayo and a firm, Anchorage Leisure Ltd.
At the last sitting of the court on March 17, Wole Olanipekun had informed the judge that a meeting involving all counsel had been convened at the instance of the Attorney General of the Federation.
He said that this was aimed at reaching a peaceful settlement of the case.
Olanipekun had also stated that substantial progress was made, and the AGF directed all parties to refrain from actions that could jeopardize the resolution process, including filing further applications.
