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EFCC Withdraws Case, Court Strikes Out Charge Against Otudeko

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The Federal High Court in Lagos on Wednesday struck out the ₦12.3 billion case filed by the Economic and Financial Crimes Commission (EFCC) against the Chairman of Honeywell Group, Oba Otudeko, and three others.

 

 

 

 

Counsel to Otudeko, Bode Olanipekun (SAN), also told Justice Chukwujekwu Aneke that all issues leading to the charge had been resolved.

The EFCC counsel, Oyedepo, confirmed that both parties had indeed settled and the resolution had been formally communicated to the Attorney General of the Federation (AGF).

He referred to several correspondences between the parties and the AGF documenting the settlement terms. Oyedepo also stated that the first defendant had fully repaid the funds at the heart of the matter.

“In the interest of justice and to prevent abuse of the court process, the Attorney General has decided to discontinue the prosecution,” Oyedepo said.

He further explained that after the charge was filed, the AGF received applications from the defence proposing an amicable resolution. This led to a meeting convened by the AGF with all parties.

According to him, in a letter dated July 16, 2025, First Bank formally withdrew its complaint, confirming that the matter had been settled. On the same date, Otudeko’s counsel also wrote to the AGF affirming the settlement. A follow-up letter from First Bank on July 21 reiterated that the parties had resolved their differences and requested that the charge not be pursued.

“Upon thorough review of the allegations, and considering that the depositor funds involved in the charge have been fully recovered and returned to First Bank’s treasury, the AGF decided—under Section 180 of the ACJA—to withdraw the charge,” Oyedepo submitted.

All defence counsel, including Adeyinka Olumide-Fusika (SAN) for Onasanya, Tunde Afe Babalola (SAN) for Akintayo, and Charles Adeogun-Phillips (SAN) for Anchorage Leisure Ltd., confirmed that the matter had been amicably resolved.

In a brief ruling, Justice Aneke struck out the charge.

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We Don’t Have Enough Crude Oil For Dangote – Oyedele

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Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, has said Nigeria does not currently have enough crude oil to supply the Dangote Petroleum Refinery with its daily requirement of 700,000 barrels.

Oyedele explained that the country was yet to reach a production level that would enable it to meet the refinery’s entire crude oil demand while also satisfying other domestic and export commitments.

“We (Nigeria) are still not at the point where we can give Dangote Refinery 700,000 barrels of crude oil; we don’t have enough to service Dangote Refinery,” he said.

The minister spoke on Friday while fielding questions on Channels Television’s Politics Today programme.

His comments come amid ongoing concerns over Nigeria’s crude oil production capacity and the supply of crude to the Dangote Refinery, Africa’s largest single-train refinery, which has a nameplate capacity of 650,000 barrels per day.

The development also comes as the Federal Government has announced a 30-day petrol discount at Nigerian National Petroleum Company Limited (NNPCL) filling stations, a move aimed at providing temporary relief to motorists and other fuel consumers amid the high cost of petroleum products.

The government said the temporary discount would run for 30 days, raising questions about how the measure would affect pump prices and whether consumers would experience significant relief from the persistent rise in transportation and living costs.

The initiative has also drawn reactions from opposition figures, who have questioned its timing and sustainability, arguing that a short-term price reduction may not address the underlying challenges in the downstream petroleum sector.

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Abducted Kogi Councillor Dies In Captivity

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Suspected kidnappers have reportedly killed a councillor representing Ogugu Ward III in Olamaboro Local Government Area of Kogi State, Hon. Rosemary Adukwu, days after her abduction.

 

Hon. Adukwu was said to be on her way to Onitsha market on 30th September 2026, when the kidnappers intercepted the commercial vehicle she boarded around Oji River axis, between Enugu and Anambra states.

The assailants reportedly dragged the councillor out of the vehicle and whisked her to their hideout in the forest.

A week after the abduction, the Chairman of Olamaboro Local Government Area, Dr. Ameh Williams, announced her death in a statement on Friday.

The statement read, “It is with deep sorrow that we announce the sudden demise of our dear sister and colleague, Hon. Mrs. Rosemary Adukwu, the honourable councillor representing the good people of Ogugu Ward III in the eighth Olamaboro Legislative Council.”

The Chairman said the death was confirmed on Thursday while she was still in captivity.

However, the family of the deceased raised concerns over the circumstances of the incident, alleging that the kidnappers singled out the councillor, left other passengers untouched, and did not contact the family for ransom until her death was announced.

A family source said that it was while tracking the victim’s cellphone number that a receiver disclosed she had died in captivity.

The source said, “Hon. Rosemary Adukwu used to board this particular driver’s vehicle to Onitsha market to restock her business. On 30th September, she left for Onitsha after confirming from her usual driver that the market would hold on 1st October.

“At the boundary community between Enugu and Anambra states, precisely around Oji River, their vehicle ran into a barricade mounted by some people. Thereafter, the hoodlums dragged only her out of the vehicle and took her to an unknown destination. The other passengers continued their journey untouched.

“Her abductors did not contact the family for ransom for almost a week. Confused, the family contacted security operatives who tracked her cellphone . On Thursday, a voice announced while receiving the call that the owner of the phone is dead.”

According to the source, the driver of the vehicle and the person who received the victim’s cellphone call had been arrested and were assisting operatives with investigation.

Meanwhile, the President-General and the National Executive of Ogugu District Union (ODU), Deacon Samuel Ige Agada, condemned the “kidnapping and brutal killing” of the councillor, describing it as barbaric.

Agada said, “Hon. Adukwu was a dedicated grassroots leader, a hardworking businesswoman and a devoted mother and wife who was only striving to earn a living for her family. This is a painful loss not only to her family and Ogugu Ward III, but to UBELE District, Ogugu Chiefdom, Olamaboro LGA and Kogi State at large. We condemn this barbaric act in its totality.”

Reports indicated that Hon. Rosemary Adukwu was buried around 1 p.m. on Friday at her family compound in Ogugu Centre.

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Gunmen Abduct 3 Staff At Cocoa Research Institute Ibadan

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Three staff of the Cocoa Research Institute of Nigeria, CRIN, in Ibadan, have been kidnapped.

 

The victims were reportedly snatched from a farm within the premises of the institute while inspecting crops.

Public Relations Officer of the Oyo Police command, Olayinka Ayanlade confirmed the abduction, noting investigations have already commenced.

He urged members of the public who have necessary information to assist the command in the rescue operation.

“The Oyo State Police Command confirms a kidnapping incident involving three staff members of the Cocoa Research Institute of Nigeria (CRIN), who were abducted while inspecting crops on a farm within the institute’s premises.

“Upon receiving the report, the command immediately commenced intensive efforts to secure the safe rescue of the victims and apprehend the perpetrators.”

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