•Says no plan to return to board
Industrialists and Founder/Chairman, Honeywell Group, Oba Otudeko, yesterday clarified that he has never served in an executive capacity within FBN Holdings Plc and its banking subsidiary, First Bank of Nigeria Limited.
He, therefore, insisted he has had no operational responsibility in the organisation contrary to speculations.
His clarification came against the backdrop of reports that the Economic and Financial Crimes Commission (EFCC) will arraign Otudeko, and former First Bank Managing Director, Olabisi Onasanya, on Monday, January 20, 2025, before a Federal High Court in Lagos over an alleged N12.3 billion fraud.
Otudeko, a former Chairman of FBN Holdings, and Onasanya will face charges alongside former Honeywell board member, Soji Akintayo and Anchorage Leisure Limited, a company linked to Otudeko.
However, in a statement issued by General Counsel, Honeywell Group, Olasumbo Abolaji, Otudeko said he was yet to receive any official summons, adding that neither has his legal team received any official invitation from relevant authorities.
He said contrary to speculations, he was not considering the possibility of returning to the board of FBN Holdings, which appeared to be the focus of the recent “unfortunate news barrage”.
The statement stressed that FBN Holdings, a legacy institution built over 130 years, holds a special place in Otudeko’s heart, adding that he “trusts this strong foundation to guide the institution into the next era of success”.
The statement categorically denied claims concerning his role in FBN Holdings adding that he will “aggressively defend his reputation”.
It further described Otudeko as a builder and one of Nigeria’s foremost investors and industrialists who had built directly from scratch and worked with others to build many of Nigeria’s most successful companies.
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.”(Thisday)
