A Federal High Court in Lagos, on Thursday, fixed Jan. 20, for the arraignment of Chairman of the Honeywell Group, Oba Otudeko, over alleged N12.3 billion fraud.

The Economic and Financial Crimes Commission (EFCC) has 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.

The. charge is marked FHC/L/20C/2025

The defendants were accused of allegedly looting N12.3 billion from First Bank.

According to the EFCC, they committed the offence in tranches of N5.2 billion, N6.2 billion, N6.1 billion, N1.5 billion and N500 million, between 2013 and 2014 in Lagos,

The charge, filed on Thursday by EFCC prosecutor, Mrs Bilikisu Buhari, further claimed that the defendants, made and forged documents to deceive the bank.

They are to appear before Justice Chukwujekwu Aneke, to whom the case, has been assigned.