N1.3bn Fraud: Obanikoro’s Son, Others to Be Arraigned February 27

The Federal High Court in Lagos has set February 27, 2025, for the arraignment of Gbolahan Obanikoro, son of Senator Musiliu Obanikoro, and four others over allegations of fraud totaling N1,356,057,330.43.

Gbolahan will be arraigned alongside Adejare Adegbenro, 51; Balmoral International Limited; M.O.B. Integrated Limited; and DDSS International Company Limited on a five-count charge of conspiracy, obtaining by false pretenses, false representation, and fraud.

The case, presided over by Justice Ambrose Lewis-Allagoa, was adjourned after the defendants failed to appear for their scheduled arraignment on Friday.

Prosecution counsel, Momoh Bello, informed the court that all defendants had been served but were absent. Bello requested a bench warrant against them, but Joshua Abel, counsel for M.O.B. Integrated Limited, opposed the motion. Abel explained that service was received late, adding that some directors of the company were outside the country and had not been adequately briefed about the case.

Justice Lewis-Allagoa, after reviewing the situation, noted that personal service had not been effected on two defendants, while others had been served within the last 48 hours. He directed the prosecution to regularize service on all defendants and adjourned the matter until February 27, 2025, for their arraignment.

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The charges stem from allegations by the Inspector General of Police, through the Special Fraud Unit in Ikoyi, Lagos, accusing the defendants of conspiring between May and September 2013 to fraudulently obtain over N1.3 billion from Access Bank Plc (formerly Diamond Bank).

The defendants allegedly misrepresented themselves as engaged in the importation of cars from Dubai for resale in Nigeria and claimed the funds were required to finance the importation. It was further alleged that they converted over N1 billion of the funds for personal use.

The offenses are said to contravene the Advance Fee Fraud and Other Fraud-Related Offenses Act, 2006, and the Money Laundering (Prevention and Prohibition) Act, 2022. If found guilty, the defendants could face significant penalties under the law.