Justice Ambrose Lewis-Allagoa of the Federal High Court, Lagos, has fixed February 27 for the arraignment of Gbolahan Obanikoro, son of Senator Musiliu Obanikoro, alongside four others, over allegations of conspiracy, false pretenses, and fraud involving N1.3 billion.
The other defendants include Adejare Adegbenro, aged 51, as well as three corporate entities: Balmoral International Limited, M.O.B. Integrated Limited, and DDSS International Company Limited.
The arraignment date was set after the defendants failed to appear in court as scheduled. The Inspector General of Police, through the Special Fraud Unit (PSFU) in Ikoyi, Lagos, alleges that the defendants conspired between May and September 2013 to fraudulently obtain N1,356,057,330.43 from Access Bank Plc (formerly Diamond Bank) under false pretenses.
According to the charges, the defendants misrepresented themselves as dealers in car imports from Dubai and requested the funds as a loan to finance the purported importation. Instead of fulfilling this business transaction, the funds were allegedly diverted for personal use.
The prosecution also accuses the defendants of converting or retaining the funds while knowing they were proceeds of unlawful activities. Furthermore, they are alleged to have misappropriated N1 billion from the bank during the same period.
At the hearing on Friday, the prosecution counsel, M.Y. Bello, informed the court that the arraignment could not proceed as none of the defendants were present. He requested an adjournment to allow all parties to be properly notified and prepared.
Counsel for the defendants, Joshua A., explained that his clients were out of the country. He noted that only the corporate entities named in the case had been served with the charges. He assured the court that the defendants would be available at the next hearing.
In response, Justice Lewis-Allagoa adjourned the case to February 27 for the arraignment.
Summary of the Charges
The five-count charge filed against the defendants includes allegations of conspiracy, fraud, and money laundering. Key highlights of the charges are as follows:
The defendants are accused of conspiring to defraud Access Bank by falsely claiming to import cars for resale, a violation of the Advance Fee Fraud and Other Fraud-Related Offenses Act.
They allegedly diverted N1.3 billion to personal accounts under false pretenses.
Another N1 billion is alleged to have been transferred through one of the corporate entities, disguising the origin of the funds.
The defendants are charged with money laundering under the Money Laundering (Prevention and Prohibition) Act, 2022.
The case highlights a significant fraud allegation involving prominent individuals and underscores the ongoing efforts to combat financial crimes in Nigeria.
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