There are strong indications that parties involved in the alleged N12.3billion suit filed by the Economic and Financial Crimes Commission (EFCC) at the Federal High Court, Lagos, may settle out of court, as the Attorney General of Federation (AGF) has intervened in the matter.
He told the judge that a meeting was held on March 12 involving all parties, including the prosecution, under the supervision of the Attorney General.
Olanipekun prayed the court to adjourn for a report on settlement.
Other defence counsel – Kehinde Ogunwumiju (SAN), Olumide Fusika, (SAN), and Charles Adeosun-Phillips (SAN), aligned with Olanipekun’s submission and urged the court to grant an adjournment for a settlement report, without setting an arraignment date, to avoid prejudicing the discussions.
The prosecution’s counsel, Bilikisu Buhari, sought an adjournment for either a settlement report or arraignment of the defendants, but the defence team insisted that settlement efforts should proceed uninterrupted.
Justice Aneke, in a ruling, granted the defence’s request and adjourned the case till May 8 for a report on the settlement.
Earlier on Monday, Justice Aneke had ordered the arraignment of Otudeko, Onasanya and two others over an alleged ₦12.3 billion fraud.
The Judge held that it is a settled principle of law that a defendant’s plea must be taken before any application can be considered.
Relying on the authorities of Onnoghen v. FRN and Bello v. FRN, among others, the court declared that an arraignment must occur before any preliminary objection.
“The issue before the court is whether the processes can be taken before the arraignment of the defendants. Any preliminary objection to the validity of a charge can only be heard after the plea is taken.
“This is now a condition precedent, and this court is bound by the decision.
“ I agree with the learned counsel for the prosecution—no preliminary objection can be taken without the arraignment of the defendants. This is my view,” the court held.