Industrialist and Founder/Chairman of Honeywell Group, Oba Otudeko, has clarified that he has never held an executive role at FBN Holdings Plc or its
Industrialist and Founder/Chairman of Honeywell Group, Oba Otudeko, has clarified that he has never held an executive role at FBN Holdings Plc or its banking subsidiary, First Bank of Nigeria Limited.
He emphasized that he has never had operational responsibilities within the organization, countering widespread speculation.
This clarification follows reports that the Economic and Financial Crimes Commission, EFCC, plans to arraign Otudeko and former First Bank Managing Director, Olabisi Onasanya, on Monday, January 20, at the Federal High Court in Lagos over an alleged N12.3 billion fraud.
Otudeko, a former Chairman of FBN Holdings, and Onasanya are expected to face charges alongside Soji Akintayo, a former Honeywell board member, and Anchorage Leisure Limited, a company linked to Otudeko.
In a statement released by Olasumbo Abolaji, General Counsel of Honeywell Group, Otudeko disclosed that he had not received any official summons, nor had the authorities contacted his legal team.
He also dismissed speculation about his possible return to the board of FBN Holdings, which he suggested was the source of the recent unfortunate news barrage.
The statement reaffirmed Otudeko’s deep regard for FBN Holdings, describing it as a legacy institution with over 130 years of history. It expressed confidence in the organization’s strong foundation to propel it toward continued success.
It categorically denied allegations regarding his involvement in FBN Holdings and asserted that Otudeko would aggressively defend his reputation.
The statement further highlighted Otudeko’s legacy as a pioneering industrialist and investor, credited with building and collaborating on some of Nigeria’s most successful companies from the ground up.
It said, “This includes FBN Holdings, where he served as a director (then Chairman) from 1997 to 2021 and was instrumental in supporting the transformation of the bank from an old-generation bank to its current leadership role as a pan-African financial services holding company.
“As he has done in the past, Dr. Oba Otudeko is always ready and available to assist any government agency with appropriate oversight in the execution of their duties, with the expectation that these affairs will be conducted with the highest standard of professionalism.
“While we respect the role of the press in keeping the public informed, we urge journalists to verify such sensitive information before publication to ensure accuracy and fairness.”
The statement added, “At 81, after five decades of contributions to the growth of Nigeria’s economy, Dr. Oba Otudeko is now focused on mentoring the next generation of business leaders and contributing to the positive development of society through enterprise.
“He is not interested in serving in an executive capacity in any organisation in Nigeria or elsewhere, neither is he interested in serving in a non-executive capacity on any board asides those he currently sits on.
“This includes any possibility of returning to the board of FBN Holdings Plc, which appears to be the focus of the recent unfortunate news barrage. FBN Holdings, a legacy institution built over 130 years, holds a special place in Dr. Otudeko’s heart. He trusts this strong foundation to guide the institution into the next era of success.
“Dr. Oba Otudeko is confident that the truth will prevail in due course and looks forward to addressing these claims in the appropriate forum.”