Nigeria, Feb. 14 -- A Federal High Court sitting in Lagos on Thursday adjourned proceedings in the N12.3 billion fraud case involving a former First Bank Chairman, Oba Otudeko, and three others to 17 March.

The court will deliver a ruling on applications and preliminary objections challenging its jurisdiction before proceeding with the arraignment of the defendants.

The case, with suit number FHC/L/CS/962/23, brought by the Economic and Financial Crimes Commission (EFCC), alleges that Mr Otudeko, Managing Director Olabisi Onasanya, former Honeywell Flour Mills board member Soji Akintayo, and Anchorage Leisure Limited defrauded First Bank and depositors through a series of transactions.

At Thursday's hearing, with PREMIUM TIMES in atten...