Lagos, Nigeria – Justice Ambrose Lewis-Allagoa of the Federal High Court in Lagos has slated February 27 for the arraignment of Gbolahan Obanikoro, son of former Minister of State for Defence, Senator Musiliu Obanikoro, along with four others, on charges of conspiracy, obtaining by false pretenses, and involvement in a ₦1,356,057,330.43 fraud.
The co-defendants include Adejare Adegbenro, 51; Balmoral International Limited; M.O.B. Integrated Limited; and DDSS International Company Limited. The arraignment was rescheduled after the defendants failed to appear in court as initially planned.
According to the Inspector General of Police, represented by the Police Special Fraud Unit (PSFU) in Ikoyi, Lagos, the defendants allegedly conspired between May and September 2013 to fraudulently obtain over ₦1.35 billion from Access Bank Plc (formerly Diamond Bank). They purportedly misrepresented their business activities to bank officials, claiming involvement in importing vehicles from Dubai for resale in Nigeria, and secured the funds under this pretense.
Further allegations state that the defendants converted, transferred, retained, or took possession of the funds, knowing or suspecting them to be proceeds of unlawful activities. They are also accused of unlawfully converting ₦1 billion of the bank’s funds for personal use.
During the recent court session, prosecutor M.Y. Bello noted the absence of the defendants and requested a new date for their arraignment. Defense counsel Joshua A. explained that his clients were out of the country and that only the implicated companies had been served with the charge sheet. He assured the court of the defendants’ presence at the next hearing.
Consequently, Justice Lewis-Allagoa adjourned the case to February 27 for the arraignment.
This case adds to the list of legal challenges faced by the Obanikoro family. In 2016, the Economic and Financial Crimes Commission (EFCC) raided Senator Musiliu Obanikoro’s residence in Ikoyi, Lagos, seizing documents and valuables in connection with allegations of fraud involving the former minister and his
The charges against the defendants are as follows:
Conspiracy to commit a felony by obtaining money under false pretenses, contrary to Section 8(a) and punishable under Section 1(3) of the Advance Fee Fraud and Other Fraud-Related Offenses Act, No. 14 of 2006.
Fraudulently obtaining ₦1,356,057,330.43 from Diamond Bank (now Access Bank Plc) by falsely representing involvement in the importation of vehicles from Dubai, leading the bank to disburse the funds as a loan, which was subsequently diverted for personal use. This act contravenes Section 1(1)(a) and is punishable under Section 1(3) of the same Act.
The upcoming arraignment is anticipated to shed more light on the allegations and the defendants’ responses to the charges.
