A fraud case against Mr. Gbolahan Obanikoro and four other people over an alleged N1.3 billion scam involving Access Bank has been dropped by the Nigeria Police Force.
Obanikoro was scheduled for arraignment before Justice Ambrose Lewis-Allagoa of the Federal High Court in Lagos on February 27 together with Adejare Adegbenro, Balmoral International Limited, M.O.B. Integrated Limited, and DDSS International Company Limited.
The arraignment of Gbolahan Obanikoro, the son of Senator Musiliu Obanikoro, and four other individuals for suspected N1,356,057,330.43 fraud was scheduled for February 27, 2025 by the Federal High Court in Lagos on January 31, 2025.
However, the police told the court in a statement on Thursday that they wanted to drop the accusation against the defendants in a notice of withdrawal filed under Section 108(1) of the Administration of Criminal Justice Act, 2015.
“Take notice that the prosecution hereby withdraws the above-mentioned charge against the defendants herein,” stated the February 4 paper, which was signed by Chief Superintendent of Police J. I. Enang. However, the accusation was withdrawn without explanation.
The defendants in the case with the filing number FHC/L/902c/2024 were charged with conspiracy, acquiring money under false pretenses, and participating in a fraud involving N1,356,057,330.43.
Through the Special Fraud Unit in Ikoyi, Lagos, the Inspector General of Police accused all of the defendants of plotting to defraud Access Bank Plc (formerly Diamond Bank) out of N1,356,057,330.43 between May and September 2013.
Claiming that they were engaged in the business of importing automobiles from Dubai for sale in Nigeria and that the funds were required to finance the importation of a set of brand-new cars for resale, they allegedly misrepresented themselves to the bank’s officers and employees.
Additionally, the defendants were charged with knowing or having cause to know that the funds were the proceeds of illegal activity when they converted, transferred, kept, or took possession of them.
They were also accused of illegally converting N1 billion that belonged to the bank for their own use. When the case came up last month, prosecutor M.Y. Bello told the court that all of the accused were going to be arraigned.
He did, however, ask for a fresh date so that all of the defendants could come to court and enter their pleas.
Joshua Abel, the fourth defendant’s attorney, informed the court that only the firms listed in the accusation had received the charge sheet and that the majority of the defendants, who were directors, were out of the country.
Nonetheless, he gave the court his word that all defendants will appear to enter their pleas at the next postponed date.
Justice Lewis-Allagoa postponed the case to February 27 in order to arraign all of the accused in light of the submissions.
In the meantime, there were hints that the hearing to strike out the lawsuit would take place on Friday, tomorrow.