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N5.5bn debt: Drama as billionaire businessman Otudeko testifies

N5.5bn debt: Drama as billionaire businessman Otudeko testifies

 

There was mild drama at the Federal High Court in Lagos Thursday as chairman of Honeywell Group Dr Oba Otudeko escaped arrest by responding to summons to testify in his companies’ N5.5billion debt suit against Ecobank Nigeria Limited.

Sporting his trademark Yoruba attire, Otudeko and his aides tried to prevent journalists from taking his photographs and videoing him as he left the court.

There was also mild drama inside the courtroom as plaintiff’s counsel Olabode Olanipekun and Ecobank’s lawyer Divine Obinna Agbua repeatedly clashed.

There were arguments between the lawyers on whether he could be examined, cross-examined and re-examined on his statement on oath.

A scuffle broke out between some of Otudeko’s aides and journalists covering the proceedings.

As his aides walked beside him out of the courtroom, they beat a quick retreat to the back of the building on sighting a TV camera.

Otudeko tried to escape through the back gate but the camera man was ahead of them.

The Honeywell chief and his group stood at a safe distance from the camera, but the TV reporter and cameraman stood at both exit points of the court premises. The move left Otudeko and his aides plotting the best means of escape.

Some of the business mogul’s aides confronted the cameraman, asking him: “Why are you doing this?” while shielding their boss.

There was a mild scrap when one of the aides tried to force the cameraman to stop recording the scene.

Otudeko succeeded in leaving the court at about 11.40am in-between his aides who shielded him from the cameraman.

On Wednesday, Agbua had told Justice Mohammed Idris that Otudeko ignored a court summons, which Otudeko denied.

He said while in the witness box Thursday: “This is a first experience, and I am extremely delighted to be here to see all professionals in practice. I was away from Lagos, and only got a call from my officers who informed me of the position, and I came back yesterday (Wednesday).

“I have great respect for the institution of the court, and so I have deposed to my witness statement and have filed it.”

Agbua asked Otudeko to tell the court his names, occupation and address. The witness replied: “My name is Dr Oba Otudeko. I am a businessman. My place of business is at No 6, Mekuwen St. Ikoyi Lagos.”

When asked about his professional qualification, Olanipekun objected, saying the proper practice was for the defence to lead the witness to adopt his written deposition.

He added that the defence could not embark on a journey of questions, adding that after adoption, the plaintiff counsel was entitled to cross examine the witness.

Agbua argued that the witness was a subpoened one, and so he was entitled to lead his witness in evidence without hindrance.

“The witness in question is our witness. The question I put to the witness being an introductory question is allowed under the law, where he lives, works, his qualifications. To that extent, I submit that the objection to my line of questioning is preemptory,” he said.

Justice Idris ruled overruled Agbua and held that the witness could only be led to adopt his witness statement.

Agbua then declined to lead the witness to adopt his statement.

During cross examination, Olanipekun asked the witness to tell the court: “Whether the then Managing Director of Ecobank was in attendance at the plaintiff’s office on July 23, 2013, when it was agreed that N3.5billion will be full and final settlement of the plaintiff’s debt.”

Before the witness could respond, Agbua objected, arguing that since the witness’ statement was not before the court, he could not be made to answer questions on it.

“We have gotten what we want and we do not want to lead the witness anymore. We hereby apply for his discharge,” Agbua said.

Olanipekun made repeated efforts to cross-examine Otudeko, but Agbua continued to insist that a witness whose statement was not adopted in court could not be cross examined.

Justice Idris adjourned until February 14.

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Breaking : TInubu appoints Bashir Ojulari as new CEO group of NNPC and GMD mele kyari get sacked, Says Onanuga

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President Bola Tinubu has sacked the board of the Nigerian National Petroleum Company (NNPC) including its Group Chief Executive Officer, Mele Kyari and board chairman Pius Akinyelure.

The decision, effective April 2, 2025, was announced in a statement by presidential spokesperson Bayo Onanuga.

President Tinubu cited the need for enhanced operational efficiency, restored investor confidence, and a more commercially viable NNPC as the driving forces behind the decision.

Invoking his powers under Section 59(2) of the Petroleum Industry Act (PIA) 2021, he reconstituted the board with new leadership aimed at repositioning NNPC Limited for greater productivity and alignment with global best practices.

Kyari was first appointed NNPC chief by former President Muhammadu Buhari but was reappointed in 2023 by President Tinubu.

As part of the overhaul, Bayo Ojulari takes over from Kyari as the new group CEO, while Ahmadu Musa Kida has been appointed as NNPC’s new non-executive chairman, replacing Pius Akinyelure. Also, Adedapo Segun has been confirmed as the company’s chief financial officer (CFO).

In line with the PIA, the president also appointed six non-executive directors from each geopolitical zone.

They include Bello Rabiu representing the north-west, Yusuf Usman from the north-east, and Babs Omotowa, a former managing director of the Nigerian Liquefied Natural Gas (NLNG), for the north-central.

Others are Austin Avuru for the south-south, David Ige for the south-west, and Henry Obih for the south-east.

Meanwhile, Lydia Shehu Jafiya, the permanent secretary of the federal ministry of finance, and Aminu Said Ahmed of the ministry of petroleum resources will represent their respective ministries on the new board.

“This restructuring is aimed at repositioning NNPC Limited for greater productivity and efficiency in line with global best practices. We are taking bold steps to transform the company into a more commercially driven and transparent entity,” the statement reads.

The changes take effect immediately, and the new board has been handed a strategic action plan, which includes a “review of NNPC-operated and Joint Venture Assets to ensure alignment with value maximisation objectives”.

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Tinubu commended Nandap for her leadership, extends Comptroller-General tenure till 2026, says Onanuga

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President Bola Tinubu has approved the extension of the tenure of the Comptroller-General of the Nigeria Immigration Service, Kemi Nandap, until December 31, 2026.

Nandap, who joined the NIS on October 9, 1989, was appointed as Comptroller-General on March 1, 2024, with an initial tenure set to end on August 31, 2025.

A statement by the president’s Special Adviser on Information and Strategy, Bayo Onanuga, on Monday, said for her leadership, noting improvements in border management, immigration modernisation, and national security under her watch.

“Under her leadership, the Nigeria Immigration Service has witnessed significant advancements in its core mandate, with notable improvements in border management, modernisation of immigration processes and national security measures.

“President Tinubu commended the Comptroller-General for her exemplary leadership and urged her to continue dedicating herself to the Service’s strategic priorities, which align with his administration’s Renewed Hope Agenda,” the statement read.

He also reaffirmed his commitment to supporting the NIS in safeguarding Nigeria’s borders and ensuring safe and legal migration.

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Update : Fubara ordered bombing of Rivers Assembly, I am not under duress I resigned, Says ex-Rivers HoS Nwaeke

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• Says suspended gov plotted Tinubu’s downfall through pipeline bombings

• ‘Fubara ordered Ehie to pull down Assembly to avert impeachment’

• Nwaeke links Bala Mohammed to sinister plot against President

• Says emergency saved Rivers, Nigeria from major disaster

The immediate past Rivers State Head of Service, Dr. George Nwaeke, yesterday gave what appears to be yet the most revealing insider’s account of some of the events that culminated in the March 18 suspension of Governor Siminilayi Fubara and the state Assembly for six months.

Nwaeke, who claimed to have been an eyewitness to some of the actions taken by Fubara, spoke of how the suspended governor allegedly plotted the destruction of the State House of Assembly and economic sabotage to ensure the downfall of President Bola Tinubu.

Nwaeke, in a video press conference and a statement, claimed that Fubara masterminded the bombing of the state House of Assembly, using his Chief of Staff, Edison Ehie.

Nwaeke was appointed as head of service by Fubara.

He said he was prompted to set the records straight following “the loads of misinformation on print and electronic media.”

He said he was not sacked neither or pressured to resign but resigned “willingly from the depth of my heart.”

He said: ”However, as an insider and a key player in this administration by my position, who worked closely with Siminilayi Fubara, it will be unfair for me to keep silent or not to address some key factors that has affected or will affect our state if we continue on this trajectory.”

He thanked the President for “a swift intervention in Rivers State crisis, especially on the state of emergency that was declared and assented to by the National Assembly.”

He added: “You will recall that when the governor was suspended, as the head of service, I was the next in command. So I am not speaking from outside, I am speaking as an insider.

“If not for the intervention of Mr. President, Nigeria would have faced the worst economic sabotage and Rivers State would have been up in flames.

“First, it all started with the Rivers State House of Assembly where the Governor, Siminilayi Fubara, directed his Chief of Staff (Edison Ehie) to burn down the assembly in a way to avert his impeachment.

“That evening, Edison was in Government House with two other boys, including the former Chairman of Obio/Akpor LGA, one Chijioke. I was there with them when a bag of money was handed over to Edison for that operation, though I do not know the amount inside.

“I want to tell Rivers people today that the House of Assembly complex in Moscow Road was clearly brought down by Edison Ehie under the instructions of Governor Siminilayi Fubara, I challenge him to an open confrontation and I will throw more light on it.

“A day after that incident, I almost resigned, but I was very scared because I know the power of a sitting governor and he knew that I am aware of the whole plan and that I am discomforted with the unconscionable act and deliberate posture of innocence and mien of a sheep.”

He also alleged that another attempt was made to “destroy the residential quarters of the House of Assembly members.”

Continuing, he said: “If not for the press conference that was held there by Rivers youths, Rivers elders and National Assembly members, that would have been another barbaric demolition in Rivers State.

“I came to realise that they actually wanted to demolish that second building, because after some weeks, he personally told me that if he knew early, he would have gone to pull down their hall before visiting the residential quarters of the assembly, and that he didn’t actually know that they had such a beautiful hall where they are using now for their sitting.

“I was shocked and I asked myself how could a man that wants to lead his people be destroying his state assets and wasting public funds on a needless ego fight.”

Nwaeke appealed to critics of the declaration of emergency rule by President Tinubu to retract their statements, saying without the urgent intervention, a lot of things would have gone wrong in the state.

Such critics, according to him, ”are only seeing the surface. If the President did not take proactive step, no one knows who would have been affected by the sinister plans that were cooking.”

He asked the President “not to give up on Rivers State affairs because a lot is going on there with Governor Fubara.”

He said one of the factors that “got me removed was when Governor Fubara told me that they would use the Ijaw to decide who would become the next president of Nigeria, and I asked him how will that work? Is it by votes or by what means?”

On alleged plan to shoot down the second term of President Tinubu, Nwaeke said: “He clearly told me that he is the chief security officer of Rivers State and his brother is in charge of Bayelsa State, and all the pipelines are under their care; that at the appropriate time, they would tell the boys what to do, and fund was not an issue.

“That was why when he made that statement in his public function that “I will tell the boys what to do at the appropriate time” I knew something was up and perhaps the time was near.

“He boasted to be the ‘David that will bring down the Goliath of Rivers State.’ That he has the backing of the cream-de-la cream in the state.

“The plan was to start from non-Ijaw speaking areas to destroy oil facilities to remove attention from the Ijaw and make it have a statewide look. The Ogoni, Oyibo, Ahoda areas were to be bombed first before the Ijaw zones. This would have brought down the government of President Tinubu and usher in a new President from the coalition of political parties with a Vice President from the Ijaw.

“The media was to be captured by paying heavily for airtime and retaining the social media influencers and known social critics on their payroll.

“I am not unaware of what this revelation means, but I am doing this to free my conscience and warn those innocent persons that are used to sway public sentiment that there is more than meets the eye in the Rivers matter.

“Sometimes I slept over in Government House. But I started being uncomfortable when Governor Bala Mohammed and some other stakeholders started nocturnal visits to Rivers State.

“I recall after one of such visits he told me that he would support Bala Mohammed or any other northerner for president; that discussions were ongoing.

“Although I was not bothered about whom he supports, I was more concerned about the quantum of state resources that he releases to these visitors at each visit.”

Nwaeke asked the Nigeria Labour Congress (NLC) to call their Rivers labour leaders to order to avoid politicising labour in the state.

He said he was privy to several private meetings between the governor and labour leaders in the state and the largesse that accompanied each meeting to compromise the Labour Union.

“More worrisome is several meetings between the governor, his chief of staff and some militant leaders. The details of which meetings I was not privy to since I was not allowed into the meetings.

“However, each meeting ended with huge sums of money paid to attendees.”

He said Rivers people and the generality of Nigerians are “the beneficiary of the declaration of state of emergency rule in Rivers State and not Governor Fubara or Minister Wike.”

He stressed the need for the state’s Sole Administrator, Vice Admiral Ibok-Ete Ibas (rtd), to “step up his guards and be very vigilant, because I am aware of the sinister arrangement and dastardly plans to continue to hatch their plans if not put in check.”

He said: “This accounts for the organised media condemnations and seeming public outcry against Mr. President and National Assembly.

“Those who love democracy and humanity will always protect humanity and democracy. Mr. President, you have just protected democracy and humanity in Rivers State. I can now sleep with my conscience clear.”

Wike slams NBA for ‘hypocrisy’ on state of emergency

Federal Capital Territory (FCT) Minister Nyesom Wike yesterday faulted the Nigeria Bar Association’s (NBA) stance that the declaration of state of emergency in Rivers by President Bola Tinubu was unconstitutional and illegal.

Wike alleged that the NBA discredited Tinubu’s decision because the Rivers Government had promised to host its annual general conference.

The minister stated this when officials of the Body of Benchers, led by its Chairman, Chief Adegboyega Awomolo (SAN), visited him in Abuja.

He added that the association did not support the declaration of the state of emergency because there would be no money to give to the NBA for the conference.

“What kind of hypocrisy is this?” he queried.

The minister called on the Body of Benchers to call the NBA to order over the association’s unnecessary criticism of the judiciary.

He said that the body should not sit and watch, while the NBA and its members destroy the legal profession.

He said that some of the members of NBA, often without reading a judgement, go on national television to condemn the judgment and criticise the judges.

He said that such actions have continued with no sanction.

“If you don’t discipline somebody, nobody will learn any lesson.

“We shall no longer allow our profession to be pulled down. I cannot believe, as a lawyer, that you make a contribution to help the legal profession, and you will be criticised by your fellow lawyers.

“Sir, time has come that we need to say look, enough is enough. We cannot continue to discourage our judges and justices. It is not done anywhere.

“I have never seen where members of a profession are the ones that are bent on bringing the profession down,” he said.

The minister also accused the NBA of describing any support rendered by the executive arm of government to the judicial arm as a bribe.

Wike recalled that when NBA was building its National Secretariat, the leadership wrote to the executive for support, adding that nobody saw that as a bribe.

“I was the only one who contributed to the NBA to build the National Secretariat. The NBA didn’t see it as a bribe.

“When you contribute to the Body of Benchers, it is a bribe, but when you contribute to NBA, it is not a bribe, they will take it.

“The same NBA will rely on state governments to sponsor their activities, but when the state government supports the judiciary it is bribery,” he added.

Wike said that the constant taunting of judges and justices had made them to avoid attending social gatherings or going to church or mosque for fear of molestation.

He added that judges could no longer shake people’s hands freely because lawyers would accuse them of collecting bribes.

“It has gotten to the stage that our Judges are so scared of going to a mosque or church or even greeting somebody they know because of fear of bribery.

“They run away from shaking people’s hands because they will start accusing them of collecting bride. This must stop,” he said

The immediate past Rivers Head of Service, George Nwaeke, has denied claims by his wife, Florence, that he was kidnapped and under duress.

Nwaeke, who recently released chilling allegations against suspended Governor Siminalayi, said contrary to his wife’s emotional outbursts, he was safe in Abuja.

He disclosed that he went to Abuja to voluntarily report himself to security agencies over the ongoing crisis in Rivers State.

The former HoS spoke in a trending video released early hours of Saturday.

He insisted thatwife’s claim was false and suggested that she had been misled and given a script to read.

He said: “I am in Transcorp Abuja. I arrived this morning from Port Harcourt to meet security agencies and report myself, as well as the troubling events happening in Rivers State. I resigned as Head of Service on Monday because of these developments”.

Addressing his wife, he said: “I just saw a video of my wife trending. She was told I had been kidnapped and given a script to read. I want to make it clear—I am not kidnapped. I am in Abuja, working.

“When I was Head of Service, my wife was not involved in my official duties. That script she read is null and void. I am safe and sound. I will report myself to the appropriate security agencies because Abuja houses their headquarters, and I feel safer making my report here.”

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