Court to Arraign Obanikoro’s Son over Alleged ₦1.3bn Fraud

Kehinde Fajobi

The Federal High Court in Lagos has scheduled February 27, 2025, for the arraignment of Gbolahan Obanikoro, son of Senator Musiliu Obanikoro, alongside four others over an alleged ₦1.356 billion fraud.

The other defendants include Adejare Adegbenro, Balmoral International Limited, M.O.B. Integrated Limited, and DDSS International Company Limited.

They are facing five charges related to conspiracy, obtaining by false pretences, false representation, and fraud.

Justice Ambrose Lewis-Allagoa adjourned the case on January 24 after the defendants failed to appear in court.

Prosecution counsel Momoh Bello requested a bench warrant, arguing that notices had been served.

However, counsel for the fourth defendant, Joshua Abel, opposed the request, explaining that his client—a company—was served late and its directors abroad had not been adequately informed.

Justice Lewis-Allagoa, upon reviewing the proof of service, ruled that the first and second defendants, being natural persons, were not properly served.

The court directed the prosecution to regularise service for all parties.

According to the Inspector General of Police’s Special Fraud Unit, the defendants allegedly conspired between May and September 2013 to fraudulently obtain ₦1.356 billion from Access Bank Plc (formerly Diamond Bank).

The defendants reportedly claimed the funds were for importing vehicles from Dubai but instead diverted the money for personal use, knowing it was proceeds of unlawful activities.

The alleged crimes contravene the Advance Fee Fraud and Other Fraud-Related Offenses Act, 2006, and the Money Laundering (Prevention and Prohibition) Act, 2022.

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