Family sources have refuted claims that Dr. Oba Otudeko, former chairman of First Bank of Nigeria (FBN), fled the country. They clarified that the businessman left Nigeria for medical reasons, emphasizing that his trip aligns with his long-standing travel routine.
Contrary to reports suggesting he crossed land borders, the family stated that Otudeko did not leave Nigeria via land routes but declined to disclose the airport he used.
“As an elderly citizen, Dr. Oba Otudeko prioritizes his health above all. He frequently travels abroad for medical care and other personal matters,” a family representative said. “This is consistent with his lifestyle over the past four decades, during which he has divided his time between Nigeria and the UK.”
The family urged the public to respect Otudeko’s privacy, adding that he remains committed to addressing any legal matters transparently and appropriately.
The Economic and Financial Crimes Commission (EFCC) has filed a 13-count charge against Otudeko, alleging his involvement in a N30 billion loan fraud. The case involves three other defendants: Stephen Olabisi Onasanya, a former group managing director of FBN; Soji Akintayo, an ex-board member of Honeywell Flour Mills Plc; and Anchorage Limited, a company linked to Otudeko.
According to the EFCC, the loans—amounting to N12.3 billion, N5.2 billion, N6.2 billion, N6.1 billion, and N1.5 billion—were obtained under false pretenses between 2013 and 2014.
Otudeko has denied the allegations and expressed his intent to defend his reputation. The EFCC has scheduled the arraignment for Monday at the Federal High Court in Lagos.
This development comes amidst heightened scrutiny of corporate governance practices in Nigeria, with the EFCC intensifying its crackdown on alleged financial misconduct.
