The Federal High Court in Ikoyi, Lagos, on Monday, dismissed the notices of preliminary objection filed by Oba Otudeko, chairperson of Honeywell Group, and his co-defendants against their fraud trial.
Following the ruling, the trial judge, Chukwujekwu Aneke, granted the request of the defence lawyers to adjourn the matter to enable them to explore an out-of-court settlement of the case.
Mr Aneke granted the adjournment of the case till 8 May, following the defence lawyers’ request first mooted by Mr Otudeko’s lawyer, Wole Olanipekun, who informed the court that discussions were underway to resolve the matter amicably.
According to the lawyers, the last meeting on the issue took place at the office of the Attorney General of the Federation, with all of them and the representative of the nominal complaint – First Bank – in attendance
Earlier dismissing the defendants’ applications seeking to halt the alleged N12.3 billion fraud trial, the judge held that the case would proceed.
He held that “such applications could not prevent the court from proceeding with the matter.”
Olanipekun informed the court that the Attorney General of the Federation held a meeting on Wednesday (12 March), during which the defence lawyers and the representative of First Bank (the nominal complainant), agreed to pursue a settlement.
Otudeko’s counsel noted that, in line with this agreement, “no further legal processes would be filed by any party before or after the ruling.”
With the Attorney General’s approval, Olanipekun further revealed that 9 April was the settlement meeting date. He requested an adjournment to a date after 9 April to allow time for a report on the settlement outcome.
When the judge asked the prosecution counsel if she was aware of the meeting, Ms Buhari answered in the affirmative, and suggested that a date be fixed for the settlement report and the defendant’s arraignment.
After considering the arguments, Justice Aneke adjourned the case to May 8, 2025 for a settlement report. Justice Aneke’s ruling on 8 May will determine whether the case proceeds to full trial or if an out-of-court settlement is reached.