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

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

By Jeffrey Agbo

The Nigeria Police Force has withdrawn its fraud charges against Gbolahan Obanikoro, son of Senator Musiliu Obanikoro, and four others over an alleged N1.3 billion fraud involving Access Bank.

Obanikoro, alongside Adejare Adegbenro, Balmoral International Limited, M.O.B. Integrated Limited, and DDSS International Company Limited, was scheduled for arraignment before Justice Ambrose Lewis-Allagoa of the Federal High Court in Lagos on February 27.

The case, marked FHC/L/902c/2024, accused the defendants of conspiracy, obtaining by false pretences, and fraudulent dealings with N1,356,057,330.43. The Inspector General of Police, through the Special Fraud Unit in Ikoyi, Lagos, alleged that the defendants conspired between May and September 2013 to fraudulently obtain the sum from Access Bank Plc (formerly Diamond Bank). They purportedly misrepresented themselves as automobile importers seeking funds to finance the importation of brand-new cars from Dubai for resale.

READ ALSO: Police to arraign Obanikoro’s son Feb 27 over alleged N1.3bn fraud

However, in a notice of withdrawal dated February 4 and signed by Chief Superintendent of Police J.I. Enang, the police informed the court of their decision to drop the charges. No reason was provided for the withdrawal.

During the last court hearing, the prosecutor, M.Y. Bello, requested a new date for arraignment, stating that not all defendants were present. The defence counsel for the fourth defendant, Joshua Abel, noted that most of the accused directors were not in the country, though the companies named in the charge had been served.

Following these submissions, Justice Lewis-Allagoa adjourned the case to February 27.

There are indications that the court may officially strike out the case on Friday.