Alleged N1.3Billion Fraud: Court Arraigns Obanikoro, Others Over Unscrupulous Acquisition Of Funds—A Federal High Court in Lagos has fixed February 27, 2025, for the arraignment of Gbolahan Obanikoro, son of former Minister of State for Defence, Senator Musiliu Obanikoro, alongside four others, over alleged conspiracy, obtaining by false pretence, and fraud amounting to N1.356 billion.
The defendants include Adejare Adegbenro, 51; Balmoral International Limited; M.O.B. Integrated Limited; and DDSS International Company Limited.
Justice Ambrose Lewis-Allagoa set the arraignment date after the accused persons failed to appear in court during Friday’s proceedings.
According to the Inspector-General of Police, through the Police Special Fraud Unit (PSFU) in Ikoyi, Lagos, the defendants are accused of defrauding Access Bank Plc (formerly Diamond Bank) between May and September 2013.
They allegedly obtained the sum under the pretext of using it to finance the importation of brand-new cars from Dubai for sale in Nigeria.
The charges include accusations that the defendants knowingly converted and diverted the funds for personal use, despite being aware that the money was part of the proceeds of an unlawful act.
At Friday’s hearing, the prosecution counsel, M.Y. Bello, informed the court that the matter was slated for arraignment but requested an adjournment due to the absence of the defendants.
Defense counsel, Joshua A., explained that his clients were out of the country and had not been served the charge sheet personally. He assured the court that they would be present at the next sitting.
In response, Justice Lewis-Allagoa adjourned the case to February 27, 2025, for the defendants to take their plea.
The five-count charge accuses the defendants of conspiracy, obtaining by false pretence, and money laundering.
They are alleged to have falsely represented their business activities to Access Bank Plc, using the pretext of financing car importation, and diverted the funds to personal accounts.
One of the charges :“That you, Adejare Adegbenro, Gbolahan Obanikoro, Balmoral International Limited, M.O.B. Integrated Limited, DDSS International Company Limited, and others now at large, between May and September 2013, in Lagos, within the jurisdiction of this honourable court, with intent to defraud, did conspire to obtain N1,356,057,330.43 from Diamond Bank (now Access Bank Plc) by falsely representing that the money was for financing the importation of brand-new cars from Dubai, thereby committing an offence contrary to Section 8(i)(a) and punishable under Section 1(3) of the Advance Fee Fraud and Other Related Offences Act, 2006.”
