FBN Loan Controversy: Onasanya’s Lawyer Condemns Media Trial

In a determined bid to clear his name, Dr. Bisi Onasanya, the former Group Managing Director of First Bank of Nigeria (FBN), has demanded proof of evidence and formal summons as part of his defense against allegations of a N12.3bn fraud. Onasanya, who is a chartered accountant, made his stance known through his lawyer, Adeyinka Olumide-Fusika, SAN, during a session at the Federal High Court in Lagos on Monday, January 20, 2025.

Onasanya is facing accusations related to a controversial loan allegedly issued at FBN 12 years ago. The former banker, along with three other individuals—former FBN chairman Chief Oba Otudeko, former Honeywell board member Soji Akintayo, and the firm Anchorage Leisure Ltd.—has denied any wrongdoing.

At the hearing, Olumide-Fusika criticized what he described as a media trial against his client, emphasizing that Onasanya had not been formally invited by the Economic and Financial Crimes Commission (EFCC) or served a notice of the charges. He expressed surprise over the extensive media coverage linking Onasanya to the loan controversy without any prior official notification.

“My Lord, it is highly concerning that my client is being subjected to media trial without any formal service of notice. This procedural anomaly is a clear violation of his right to a fair hearing and personal dignity,” Olumide-Fusika said.

In response, the EFCC’s prosecuting counsel, Rotimi Oyedepo, denied any involvement by the commission in the media coverage of the case. He claimed that the EFCC had not issued any press statements and suggested that journalists may have gathered information from other sources.

“We disassociate ourselves from any media reports,” Oyedepo stated in court.

The EFCC also applied for an ex parte motion to issue a bench warrant for the defendants’ arrest and sought permission to serve them through substituted means, citing that they had allegedly avoided service.

Olumide-Fusika strongly opposed this motion, arguing that his client had always been available and had not evaded service. The senior lawyer also emphasized that his client was ready to proceed with the case, requesting the court to serve the charges and proof of evidence in open court.

“This application is without merit and speculative. My client has not evaded service or avoided any part of this case. The prosecution’s claims are unfounded,” Olumide-Fusika argued. “I am here, and my client is ready to defend himself, so I respectfully request that the charges and proof of evidence be served here in open court.”

Justice Chukwujekwu Aneke, who presided over the case, ruled in favor of the defense, dismissing the EFCC’s motion for substituted service. The judge ordered that the EFCC serve the charges and proof of evidence directly to Olumide-Fusika in open court.

Following the court’s directive, the EFCC complied and presented the documents. Olumide-Fusika confirmed receipt and sought assurance from the prosecution counsel that the evidence provided was complete, with no further additions expected. The defense counsel insisted that the EFCC’s confirmation be documented on record.

Justice Aneke adjourned the case to February 13, 2025, for further proceedings.

Earlier, Onasanya, through his Communication Advisor, Mr. Michael Oshunuyi, had dismissed the EFCC’s allegations, calling them “baseless” and accusing the commission of attempting to tarnish his client’s longstanding reputation for professionalism, integrity, and ethical conduct.