Former Group Managing Director of FirstBank Nigeria, Dr Olabisi Onasanya, has said he is now vindicated after the Federal High Court in Lagos struck out the controversial loan-related case involving his name.

Justice Chukwujekwu Aneke of the Federal High Court, Lagos on Wednesday, July 23, 2025 struck out the case after the anti-graft agency, the Economic and Financial Crimes Commission, EFCC, withdrew the suit following an out-of-court settlement among the parties involved including the nominal complainant (First bank of Nigeria PLC), the erstwhile Chairman of the Bank, Oba Otudeko, who is the first defendant, and his Anchorage Leisure Limited standing as the fourth defendant as well as the intervention of the office of the Attorney General of the federation.

Rotimi Oyedepo (SAN), the counsel to the prosecution, the EFCC, said the withdrawal of the suit was consequent on the confirmation of the repayment of the controversial loan by the defence and the intervention by the office of the Attorney General of the Federation.

Mr. Rotimi Oyedepo, SAN, appearing for the prosecution, further informed the Court that the Honourable Attorney-General of the Federation (AGF) received a formal request to discontinue the matter. He noted that on 16th July 2025, First Bank of Nigeria (FBN), the nominal complainant, wrote to the AGF confirming that a settlement had been reached with the 1st Defendant (Oba Otudeko) and that the Counsel to the 1st Defendant similarly wrote to the AGF, confirming the settlement.

‘’Subsequently, by a letter dated 21st July 2025, FBN formally communicated its decision to no longer pursue the allegations against the Defendants. Following a thorough review of the representations by both the nominal complainant and the First defendant, and since the funds in question had been fully recovered and returned to the Bank’s treasury, the Honourable AGF considered it appropriate on grounds of justice, public policy, and to prevent abuse of legal process to withdraw the charge subject to Section 108 of the Administration of Criminal Justice Act (ACJA) 2015, we hereby move a motion to withdraw the case,” Oyedepo told the court.

Bode Olanipekun (SAN), the counsel to the first defendant, did not object to the withdrawal, confirming the settlement between the nominal complainant (First Bank) and his client, the first defendant (Oba Otudeko).

Adeyinka Olumide-Fusika (SAN), the counsel for Onasanya, told the court, “My lord, I have no objection to the withdrawal. I attended the first meeting of the parties with the AGF (Attorney General of the Federation) and I affirmed that the matter was strictly between the nominal complainant, which is the First Bank and the first defendant (Otudeko). I am happy that the matter has now been resolved among them, and I thank all the parties for resolving it.”

With no objection to the withdrawal of the suit by any of the parties, Justice Aneke declared the suit ‘struck out’.

Speaking to journalists after the case was dismissed, Michael Osunnuyi, Media Advisor to the retired banker, strongly affirmed Onasanya’s innocence and said he had always been determined to clear his name.

“He’s completely vindicated. From the beginning, we have maintained that he did nothing wrong. He was not actively involved in the approval process for the transaction, as investigated by the EFCC about eight years ago. Dr Onasanya has never taken part in any form of fraud in his over three decades of service in the Nigerian financial sector,” Osunnuyi said.

Osunnuyi said his principal demonstrated his innocence by voluntarily presenting himself to the court at each sitting to prove that he had nothing to hide.

Onasanya, who retired voluntarily as FirstBank Group managing Director in 2015 after years of meritorious service, said the case had been particularly painful because of the attempted damage to his legacy.

“Dr Onasanya’s reputation is everything to him. He built a name in banking and corporate governance through dedication, discipline, professionalism and integrity. That’s why he didn’t run. That’s why he always came to court to defend his name and to uphold the values he has always believed in. Let it be known that Dr Onasanya will continue to defend himself where necessary and will not succumb to the antics of mischief makers who target him in the advancement of their aggrandisement,” Osunnuyi said.

Justice Daniel Osiagor of the Federal High Court in Lagos on Tuesday issued a caution and released a female drug offender, Isoken Arigbe, on compassionate grounds after she was convicted for being in possession of 66 grams of methamphetamine without authorization.

Arigbe was released after admitting guilt to a single charge brought against her by the National Drug Law Enforcement Agency.

She had been apprehended on May 23, 2025, at the Lekki Gardens Phase 2 Junction located in Ajah, within the Eti-Osa Local Government Area of Lagos State.

During the hearing, NDLEA prosecutor Mr. A.G. Yuanyuam informed the court that the case was set for Arigbe’s arraignment, and the charge would be read to her.

Yuanyuam stated that Arigbe was found with 66 grams of Methamphetamine, a substance comparable to cocaine, heroin, and LSD, without any legal authority.

He added that her actions violated Section 19 of the National Drug Law Enforcement Agency Act, Cap N30 Laws of the Federation of Nigeria, 2004, as amended.

Upon hearing the charge, Arigbe pleaded guilty, leading the prosecutor to present the facts of the case along with related documents and evidence.

The prosecutor then asked the court to convict her under Section 356(2) of the Administration of Criminal Justice Act, 2015.

Justice Osiagor proceeded to convict Arigbe based on the charge.

Following her conviction, the prosecution requested the permanent forfeiture of N534,569.16 found in Arigbe’s bank accounts, claiming the funds were proceeds of the crime.

The judge approved the request and ruled that the money be forfeited to the Federal Government.

During allocutus, defence lawyer Mr. C.J. Robert, representing the chambers of Uche Okoronkwo, appealed for mercy.

He explained to the court that Arigbe was a first-time offender who had shown remorse and cooperated by promptly pleading guilty.

Robert also highlighted Arigbe’s worsening medical condition, referencing reports from the Lagos University Teaching Hospital indicating severe health issues including abdominal disorders and an enlarged heart.

Taking into account her poor health, Justice Osiagor decided not to impose a prison sentence.

Instead, he cautioned and discharged her, advising her not to reoffend and to prioritize her recovery.

The judge nevertheless upheld the order to forfeit N534,569.16 to the Federal Government.

Five people have been brought before a mobile court in the Bolade area of Oshodi, Lagos State, for allegedly disposing of waste in restricted areas.

It was gathered on Tuesday that officials from the Lagos Waste Management Authority’s enforcement unit apprehended the suspects.

The individuals were identified as Sunday Chidiebere, Favour Odoh, Daniel Okunola, Michael Obi, and Amaka Abel.

They were reportedly seen dumping waste on the median along Ago Palace Way in the Okota part of the state.

Confirming the arrests, the Commissioner for the Ministry of the Environment and Water Resources, Tokunbo Wahab, announced via his official X handle on Tuesday that the suspects had been taken to court for trial.

He wrote, “Early this morning, the @Lawma_gov enforcement team arrested five offenders for dumping waste along the median at Ago Palace Way, Okota. They have been taken to the Mobile Court at Bolade, Oshodi, for prosecution.”

The arrests are part of the state’s renewed efforts to crack down on those who break environmental laws.

In a similar operation conducted earlier in May, PUNCH Metro reported that 74 people were arrested in one day for violating environmental laws in various areas within the Lekki axis, such as Falomo Bridge, Eko Hotel Roundabout, Oniru Beach, Lekki Phases 1 and 2, and the 1004 Estate.

Wahab has continued to stress that the government is committed to keeping the environment clean and will ensure violators face legal consequences.