The Federal High Court in Lagos has scheduled the arraignment of Gbolahan Obanikoro, son of Senator Musiliu Obanikoro, and four others for February 27, 2025, over alleged fraud totalling N1,356,057,330.43.
The defendants include Adejare Adegbenro, 51; Balmoral International Limited; M.O.B. Integrated Limited; and DDSS International Company Limited.
They face five charges, including conspiracy, obtaining money under false pretences, fraud, and false representation.
Justice Ambrose Lewis-Allagoa set the arraignment date following the defendants’ absence from a previously scheduled hearing.
Prosecuting counsel Momoh Bello informed the court that all defendants had been served with the necessary documents and requested a bench warrant for their arrest.
However, counsel for M.O.B. Integrated Limited, Joshua Abel, opposed the request, arguing that service was received late, leaving insufficient time to prepare.
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Abel noted that many directors of the company were overseas, further complicating their appearance.
Justice Lewis-Allagoa reviewed the proof of service and acknowledged that while the third and fourth defendants had been served within 48 hours, there was no evidence of personal service on the first and second defendants.
The judge emphasized the need to regularize service in compliance with legal requirements and directed the prosecution to properly serve all defendants before the next hearing.
The case stems from allegations by the Inspector General of Police, through the Special Fraud Unit in Ikoyi, Lagos, that the defendants conspired between May and September 2013 to defraud Access Bank Plc (formerly Diamond Bank) of N1,356,057,330.43.
The defendants allegedly misrepresented their intent to import cars from Dubai for resale in Nigeria and secured the funds under this false pretence.
The defendants are further accused of converting and transferring the funds, knowing they were proceeds of unlawful activities, and diverting N1 billion for personal use.
These offences violate sections of the Advance Fee Fraud and Other Fraud-Related Offenses Act, 2006, and the Money Laundering (Prevention and Prohibition) Act, 2022.
