A Federal High Court in Lagos has ordered the arraignment of former First Bank of Nigeria Plc Chairman, Oba Otudeko, and former Managing Director, Bisi Onasanya, over an alleged ₦12.3 billion fraud. Justice Aneke ruled on Monday that the defendants’ plea must be taken before any objections could be heard, citing legal precedents, including Onnoghen v. FRN and Bello v. FRN. “The issue before the court is whether the processes can proceed before the defendants’ arraignment. Any preliminary objection to the validity of a charge can only be heard after the plea is taken,” the judge stated. Settlement Talks Underway…