Police drop N1.3bn fraud charges against Obanikoro’s son, others

The police have dropped the N1.3bn fraud charges they filed against Gbolahan Obanikoro, son of Senator Musiliu Obanikoro, and four others.

The decision was communicated to the Federal High Court in Lagos via a Notice of Withdrawal filed under Section 108(1) of the Administration of Criminal Justice Act, 2015.

In the document, dated February 4, 2025, and signed by Chief Superintendent of Police Justin Enang, and sighted by our correspondent, the police did not specify the reason for the withdrawal of the charges marked FHC/L/902c/2024.

The document read: “Take notice that the prosecution hereby withdraws the above-mentioned charge against the defendants herein.”

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

Listed alongside Obanikoro as defendants are Adejare Adegbenro, 51; Balmoral International Limited; M.O.B. Integrated Limited; and DDSS International Company Limited.

In the charge, marked FHC/L/902c/2024, the police accused the defendants of conspiracy, obtaining money under false pretenses, and fraud involving the sum of N1,356,057,330.43.

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 were also 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.

Additionally, the police alleged that they unlawfully converted N1 billion of the bank’s funds for personal use.

The defendants were originally scheduled to be arraigned on January 26, 2025, before Justice Ambrose Lewis-Allagoa.

The arraignment could, however, not go on as the defendants were absent from court.

Though the prosecutor, Momoh Bello, applied for a bench warrant against them,  counsel for the fourth defendant ( M.O.B. Integrated Limited),  Joshua Abel, opposed the prayer.

The judge later rescheduled the arraignment to February 27, 2025.

Meanwhile, our correspondent gathered on Thursday that the hearing to officially strike out the case could take place today (Friday).

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