#1.3 Billion Fraud: Police To Arraign Obanikoro’s Son, Four Others Today/Vop

The Federal High Court in Lagos on Friday fixed February 27, 2025, for the arraignment of Gbolahan Obanikoro, the son of Senator Musiliu Obanikoro, and four others for alleged N1,356,057,330.43 fraud, News360 Nigeria reports.

To be arraigned alongside Obanikoro are Adejare Adegbenro, 51; Balmoral International Limited; M.O.B. Integrated Limited; and DDSS International Company Limited.

The police charged them with five counts, bordering on conspiracy, obtaining by false pretenses, false representation, and fraud.

Justice Ambrose Lewis-Allagoa set the date on Friday after the defendants failed to appear for their scheduled arraignment.

When the case was called, the prosecution counsel, Momoh Bello, informed the court that the matter was scheduled for the arraignment of the defendants.

Following the absence of the defendants, Bello then asked the court for a bench warrant against them, saying that they had all been served.

But counsel for the fourth defendant ( M.O.B. Integrated Limited), Joshua Abel, opposed the bench warrant prayer.

He told the court that the fourth defendant is a company and that the fourth defendant received service late on Wednesday and he was informed of the case late on Thursday.

Abel also told the court that most of the defendants, who are directors of the firm, were not in the country.

“I have not had the opportunity to go through the case before the directors can be arraigned,” he said.

Justice Lewis-Allagoa then asked the prosecutor for the proof of service and date of service.

He said, “I want proof of service and the date of service. The record of this court shows that service was effected on the third and fourth defendants. It’s less than 48 hours that they have been served; one of them was served yesterday. The first and second defendants are natural persons and there is no proof of service on them.

“The law says personal service. You can go and regularise 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 and then adjourned till February 27, 2025, for the arraignment of all the defendants.

The Inspector General of Police, through the Special Fraud Unit in Ikoyi, Lagos, accused the defendants and others at large of conspiring amongst themselves between May and September 2013 to fraudulently obtain the sum of N1,356,057,330.43 from Access Bank Plc (formerly Diamond Bank).

They were accused of allegedly misrepresenting themselves to the bank’s staff and officers, claiming they were involved in the business of importing cars from Dubai for sale in Nigeria, and that the money was needed to finance the importation of a set of brand-new cars for resale.

The defendants are also being accused of converting, transferring, retaining, or taking possession of the funds, knowing or having reason to know that such funds were proceeds of unlawful activity.

The police further alleged that they unlawfully converted the sum of N1bn belonging to the bank for personal use.

According to the police, the offences committed contravened Section 8(i)(a) and punishable under Section 1(3), 1(i)(a) of the Advance Fee Fraud and Other Fraud-Related Offenses Act, No. 14 of 2006, and Section 18(2)(b) and (d) and 18(3) of the Money Laundering (Prevention and Prohibition) Act, 2022