Adesuwa Ezenwa, a former employee of First Bank of Nigeria Limited, has leveled serious allegations of fraud against billionaire industrialist Pa Oba Otudeko, who is popularly known as ‘Mr Let Us Pray’.
Ezenwa, who was dismissed from her position in October 2016, has initiated legal action against the bank at the National Industrial Court of Nigeria, Lagos Division, seeking redress for her wrongful dismissal and claiming damages amounting to five hundred million naira, in addition to twenty-five million naira in legal costs.
In documents obtained Ezenwa alleges that unsecured loans totaling around N12 billion were improperly granted to a company in which Otudeko holds a significant investment.
These loans were supposedly masked as facilities for the Stallion Group of Companies. Ezenwa further claims that the bank’s credit disciplinary committee unfairly held her accountable for these loans, despite her role being restricted to executing documents as directed by her superiors.
Ezenwa’s claims include allegations that unsecured credits, estimated at N2 billion, were misused to funnel funds to Broadwaters Resources Company Nigeria Limited, a move she asserts was used by senior officials to siphon money from the bank. She also claims that significant portions of these funds were transferred to V-TECH Ltd, owned by Otudeko, and Ontario Oil and Gas, with the loans remaining unpaid.
In her court filings, Ezenwa asserts that the size and scale of these transactions necessitated the involvement of the board of First Bank, questioning the legitimacy of her dismissal which has, according to her, damaged her professional reputation and caused her considerable distress.
Her legal team has subpoenaed the Economic and Financial Crimes Commission (EFCC) and the Central Bank of Nigeria to provide audit reports as part of the ongoing trial. Ezenwa’s lawyer, Seyi Sowemimo, has stated that she is being unfairly made a scapegoat for the alleged financial misconduct within the bank.
Oreoluwa is an accountant and a brand writer with a flair for journalism.
