Onasanya challenges allegations in High Court, demands fair hearing

In a determined bid to clear his name and defend his reputation, Dr. Bisi Onasanya, a renowned chartered accountant and former Group Managing Director of First Bank, appeared before the Federal High Court in Lagos on Monday, January 20, 2025.

Represented by his lawyer, Adeyinka Olumide-Fusika, SAN, Onasanya demanded that the Economic and Financial Crimes Commission (EFCC) formally serve him with proof of evidence and summons regarding allegations tied to a controversial loan allegedly issued by First Bank 12 years ago.

The retired banker is contesting the allegations alongside three others: former Chairman of First Bank, Chief Oba Otudeko, former Honeywell board member, Soji Akintayo, and a firm, Anchorage Leisure Ltd.

At the hearing, Olumide-Fusika condemned what he described as a “media trial” targeting his client. He criticized the lack of formal communication from the EFCC prior to reports circulating in major newspapers linking Dr. Onasanya to the case.

“My Lord, it is concerning that my client has been unduly exposed to a media trial without being formally served. This is a procedural anomaly that undermines his right to a fair hearing and personal dignity,” Olumide-Fusika argued.

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In response, EFCC prosecuting Counsel Rotimi Oyedepo distanced the commission from any involvement in the media reports. “My Lord, we disassociate ourselves from any media reports. The commission has not issued a press statement on this matter,” he said, suggesting that journalists may have sourced the information independently.

The EFCC also sought an ex parte motion to issue a bench warrant for the defendants’ arrest, alleging they had evaded service. However, Olumide-Fusika opposed the motion, asserting that his client had been available and had not avoided any legal proceedings.

“This application is unwarranted and speculative,” Olumide-Fusika told the court. “My client has neither avoided service nor absented himself from this matter. Since I am here and my client is ready to proceed, I request that the EFCC serve the charge and the proof of evidence in this open court.”

Justice Chukwujekwu Aneke, presiding over the case, dismissed the EFCC’s motion for substituted service on Dr. Onasanya, noting that he had willingly accepted to be served in court. The judge ordered the EFCC to provide the required documents to Olumide-Fusika in open court.

Following the directive, the EFCC complied, serving the defense counsel the charge and proof of evidence. Olumide-Fusika confirmed receipt and secured a confirmation from the EFCC that the submitted proof of evidence was exhaustive and would not require further additions.

“My client is ready to defend himself and clear his name,” Olumide-Fusika reiterated.

Justice Aneke subsequently adjourned the case to February 13, 2025.

In a previous statement through his Communication Advisor, Michael Osunuyi, Dr. Onasanya described the allegations as “baseless” and an “attempt to tarnish his stellar reputation for professionalism, integrity, and humaneness.”

Observers anticipate that the February hearing will provide further clarity on the case, as Dr. Onasanya and his legal team prepare to present their defense in what has become a high-profile financial litigation matter.