In a recent development at the Federal High Court in Lagos, Justice Chukwujekwu Aneke has adjourned a high-profile N12.3bn fraud case involving the Chairman of a notable group and three others until May 8, 2025, to allow for a settlement report.
The case, which includes allegations of obtaining funds under false pretenses, features the Chairman of the Honeywell Group, a former Managing Director of a bank, a former board member of Honeywell, and a company. The parties have agreed to involve the Attorney General of the Federation and Minister of Justice to mediate for a possible resolution outside of court.
During the proceedings, the defendants’ counsel informed the court about ongoing settlement discussions supervised by the AGF, aiming to avoid actions that could hinder the process. The EFCC prosecutor, however, emphasized the importance of also addressing the arraignment of the defendants in addition to the settlement talks.
After hearing arguments from both sides, the judge granted the request for an adjournment to May 8, 2025, to track the progress of the settlement discussions. The judge also ruled that the defendants must be arraigned before any challenges to the court’s jurisdiction can be entertained, citing legal provisions to support the decision.
The charges brought against the defendants by the EFCC allege fraudulent transactions totaling N12.3bn over a period in Lagos, accusing them of forging documents to deceive a bank, contravening specific laws related to financial crimes.