N1.3bn Fraud: Police to Arraign Obanikoro’s Son, Others on February 27
The Federal High Court in Lagos has set February 27, 2025, for the arraignment of Gbolahan Obanikoro, son of ex-Senator Musiliu Obanikoro, and four others over an alleged N1.3bn fraud. Learn more about the charges, defendants, and legal proceedings.
By Jason Okhai
The Federal High Court in Lagos has scheduled February 27, 2025, for the arraignment of Gbolahan Obanikoro, son of former Senator Musiliu Obanikoro, and four others over an alleged fraud of N1,356,057,330.43.
Alongside Obanikoro, the defendants include Adejare Adegbenro, 51; Balmoral International Limited; M.O.B. Integrated Limited; and DDSS International Company Limited. They face five counts of conspiracy, obtaining money under false pretenses, false representation, and fraud.
The arraignment date was set by Justice Ambrose Lewis-Allagoa after the defendants failed to appear in court on Friday. During the hearing, the prosecution counsel, Momoh Bello, informed the court that the matter was slated for the defendants' arraignment. However, due to their absence, Bello requested a bench warrant against them, stating that all parties had been duly served.
Counsel for the fourth defendant, M.O.B. Integrated Limited, Joshua Abel, opposed the bench warrant application. Abel argued that the fourth defendant, being a company, received service late on Wednesday, and he was only informed of the case on Thursday. He also noted that most of the company’s directors were currently out of the country.
READ More News:
- The Acting Group CEO of Access Holdings PLC
- Blackmail And Extortion In Nigeria And Consequences
- Tribute To Mrs Titilayo Osuntoki HCIB
- The Place Of Collaboration As New Competition Part 2
“I have not had the opportunity to review the case before the directors can be arraigned,” Abel stated.
In response, Justice Lewis-Allagoa requested proof of service and the dates of service from the prosecution. The judge noted that while the third and fourth defendants had been served less than 48 hours prior, there was no proof of service for the first and second defendants, who are natural persons.
“The law requires personal service. You must regularize service on the defendants. There is no proof that the first and second defendants have been served. However, there is proof that the third and fourth defendants have been served. The prosecution is directed to serve the first and second defendants,” the judge ruled. He subsequently adjourned the case to February 27, 2025, for the arraignment of all defendants.
The Inspector General of Police, through the Police Special Fraud Unit in Ikoyi, Lagos, accused the defendants and others still at large of conspiring between May and September 2013 to fraudulently obtain N1,356,057,330.43 from Access Bank Plc (formerly Diamond Bank).
According to the charges, the defendants allegedly misrepresented themselves to the bank’s staff, claiming to be involved in the business of importing cars from Dubai for sale in Nigeria. They reportedly requested the funds to finance the importation of brand-new cars for resale.
The police further alleged that the defendants unlawfully converted and transferred the funds, knowing they were proceeds of illegal activities. Specifically, they are accused of diverting N1 billion belonging to the bank for personal use.
The offences contravene Section 8(i)(a) of the Advance Fee Fraud and Other Fraud-Related Offenses Act, No. 14 of 2006, punishable under Section 1(3) and 1(i)(a), as well as Section 18(2)(b), (d), and 18(3) of the Money Laundering (Prevention and Prohibition) Act, 2022.
Dr. Ohio O. Ojeagbase, FICA, FIDR
Chief Private Investigator/CEO
Kreeno Debt Recovery and Private Investigation Agency
A Subsidiary of KREENO Holdings LLC, USA
- How Non Payment Of Your Debt Affect Your Integrity
- Strengthening Fight Against Financial Fraud in Nigeria
- Nigerian Man Sentenced To 11Years In Prison For Money Laundering And Passport Fraud
- An Abuja-Based Bishop Sentenced To 20 Years Imprisonment For Rape of A Minor
Kindly share this story:
Contact: report@probitasreport.com
Stay informed and ahead of the curve! Follow The ProbitasReport Online News Report on WhatsApp for real-time updates, breaking news, and exclusive content especially when it comes to integrity in business and financial fraud reporting. Don't miss any headline – and follow ProbitasReport on social media platforms @probitasreport
[©2025 ProbitasReport - All Rights Reserved. Reproduction or redistribution requires explicit permission.]
What's Your Reaction?
