How Fagbemi Bungled Oba Otudeko’s N12.3 Billion Alleged Fraud Case
In a case that has sparked outrage across legal and civil society circles, Nigeria’s Attorney General and Minister of Justice, Lateef Fagbemi (SAN), is facing intense criticism over his handling of an alleged ₦12.3 billion fraud case involving prominent businessman and former First Bank Chairman, Oba Otudeko.
Investigations by Sahara Reporters have revealed that despite a wealth of evidence gathered by law enforcement agencies, the Attorney General’s office abruptly terminated legal proceedings against Otudeko, citing a lack of diligent prosecution.
Legal experts and sources close to the case, however, describe the withdrawal as a calculated move to protect a politically connected elite figure from justice.
The case, which centered on allegations of corporate financial impropriety linked to Honeywell Group, accused Otudeko of orchestrating a sophisticated scheme of fraudulent loan transactions and fund diversion through First Bank of Nigeria.
Law enforcement sources confirmed that forensic analysis of financial documents, internal communications, and account records revealed a troubling pattern of irregularities dating back over a decade.
By mid-2023, investigators from the Nigeria Police Force had concluded an extensive probe into the matter, reportedly establishing a prima facie case against Otudeko.
Witnesses were interviewed, and critical documents were submitted to the Ministry of Justice. Legal analysts believed the evidence met the threshold for criminal prosecution and expected the case to proceed swiftly through the courts.
However, in early 2024, the Attorney General’s office took the surprising step of filing a nolle prosequi, effectively discontinuing the case.
The AGF’s filing claimed insufficient grounds for prosecution and a lack of diligence, a decision many in the legal community have dismissed as unfounded.
Senior lawyers and rights advocates have publicly condemned the move. Constitutional lawyer Prof. Akin Oyebode described it as an “egregious failure of duty” and suggested the withdrawal was motivated by pressure from political and economic elites.
Human rights lawyer Femi Falana (SAN) went further, stating that “the AGF’s office should be the last line of defense for justice, not the graveyard for high-profile cases.”
Civil society groups including SERAP, CISLAC, and BudgIT have also decried the decision, warning that it further erodes public trust in Nigeria’s justice system.
Activists argue that the selective application of justice is why corruption persists at high levels while petty offenders fill the country’s prisons.
Oba Otudeko has not publicly commented on the collapse of the case, though he has previously denied any wrongdoing, insisting that Honeywell Group operated within the boundaries of the law.
Repeated attempts to reach his representatives and the AGF’s office were unsuccessful at the time of filing this report.
Several insiders in the justice ministry, speaking anonymously, alleged that top government officials intervened behind the scenes to halt the case, citing Otudeko’s longstanding political and business connections.
One official characterized the AGF’s decision as “more political than legal,” hinting at elite protectionism.
The failure to prosecute what many saw as a landmark corporate fraud case raises serious concerns about the state of Nigeria’s anti-corruption efforts. Despite the federal government’s public rhetoric on fighting corruption, critics say the actions of the Attorney General contradict the administration’s stated goals and reinforce a system where the wealthy and powerful are immune to legal consequences.
As public scrutiny intensifies, the Attorney General’s decision remains a powerful reminder of the challenges facing Nigeria’s legal system.
For many Nigerians, it is not merely a matter of one case being dropped — it is a symbol of a broader pattern where justice often bows to influence, and the rule of law is applied selectively.
Whether this case will be revisited or forever buried remains uncertain. But one thing is clear: the manner in which it was handled has left a stain on the credibility of Nigeria’s justice system and the office of the Attorney General.
In a case that has sparked outrage across legal and civil society circles, Nigeria’s Attorney General and Minister of Justice, Lateef Fagbemi (SAN), is facing intense criticism over his handling of an alleged ₦12.3 billion fraud case involving prominent businessman and former First Bank Chairman, Oba Otudeko.
Investigations by Sahara Reporters have revealed that despite a wealth of evidence gathered by law enforcement agencies, the Attorney General’s office abruptly terminated legal proceedings against Otudeko, citing a lack of diligent prosecution.
Legal experts and sources close to the case, however, describe the withdrawal as a calculated move to protect a politically connected elite figure from justice.
The case, which centered on allegations of corporate financial impropriety linked to Honeywell Group, accused Otudeko of orchestrating a sophisticated scheme of fraudulent loan transactions and fund diversion through First Bank of Nigeria.
Law enforcement sources confirmed that forensic analysis of financial documents, internal communications, and account records revealed a troubling pattern of irregularities dating back over a decade.
By mid-2023, investigators from the Nigeria Police Force had concluded an extensive probe into the matter, reportedly establishing a prima facie case against Otudeko.
Witnesses were interviewed, and critical documents were submitted to the Ministry of Justice. Legal analysts believed the evidence met the threshold for criminal prosecution and expected the case to proceed swiftly through the courts.
However, in early 2024, the Attorney General’s office took the surprising step of filing a nolle prosequi, effectively discontinuing the case.
The AGF’s filing claimed insufficient grounds for prosecution and a lack of diligence, a decision many in the legal community have dismissed as unfounded.
Senior lawyers and rights advocates have publicly condemned the move. Constitutional lawyer Prof. Akin Oyebode described it as an “egregious failure of duty” and suggested the withdrawal was motivated by pressure from political and economic elites.
Human rights lawyer Femi Falana (SAN) went further, stating that “the AGF’s office should be the last line of defense for justice, not the graveyard for high-profile cases.”
Civil society groups including SERAP, CISLAC, and BudgIT have also decried the decision, warning that it further erodes public trust in Nigeria’s justice system.
Activists argue that the selective application of justice is why corruption persists at high levels while petty offenders fill the country’s prisons.
Oba Otudeko has not publicly commented on the collapse of the case, though he has previously denied any wrongdoing, insisting that Honeywell Group operated within the boundaries of the law.
Repeated attempts to reach his representatives and the AGF’s office were unsuccessful at the time of filing this report.
Several insiders in the justice ministry, speaking anonymously, alleged that top government officials intervened behind the scenes to halt the case, citing Otudeko’s longstanding political and business connections.
One official characterized the AGF’s decision as “more political than legal,” hinting at elite protectionism.
The failure to prosecute what many saw as a landmark corporate fraud case raises serious concerns about the state of Nigeria’s anti-corruption efforts. Despite the federal government’s public rhetoric on fighting corruption, critics say the actions of the Attorney General contradict the administration’s stated goals and reinforce a system where the wealthy and powerful are immune to legal consequences.
As public scrutiny intensifies, the Attorney General’s decision remains a powerful reminder of the challenges facing Nigeria’s legal system.
For many Nigerians, it is not merely a matter of one case being dropped — it is a symbol of a broader pattern where justice often bows to influence, and the rule of law is applied selectively.
Whether this case will be revisited or forever buried remains uncertain. But one thing is clear: the manner in which it was handled has left a stain on the credibility of Nigeria’s justice system and the office of the Attorney General.
