Alleged N1.3bn fraud: Court fixes February 27 for arraignment of Obanikoro’s son, others

Justice Ambrose Lewis-Allagoa of the Federal High Court, Lagos, has fixed February 27 for the arraignment of Gbolahan Obanikoro, son of former Minister of State for Defence, Senator Musiliu Obanikoro, for alleged N1.3 billion fraud.

The Inspector-General of Police, Kayode Egbetokun, had listed Obanikoro and four others for arraignment for alleged conspiracy, obtaining by false pretenses and fraud.

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

The arraignment originally scheduled for last Friday could not proceed as the defendants failed to appear in court

The police Special Fraud Unit (PSFU) in Ikoyi, Lagos, alleged that the defendants conspired between May and September 2013 to defraud Access Bank Plc (formerly Diamond Bank) of N1,356,057,330.43.

In the charge sheet, the prosecution alleged that the defendants presented themselves to bank officials, claimed they were engaged in the business of importing cars from Dubai for sale in Nigeria.

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They purportedly secured the funds by presenting this false narrative, with promises of using the money to finance the importation of brand-new vehicles for resale.

Beyond securing the funds under false pretenses.

At the hearing on Friday, prosecutor M.Y. Bello expressed readiness to proceed with the arraignment but sought a new date due to the absence of the defendants.

Counsel for the fourth defendant, Joshua Abel, told the court that most of the directors of companies were out of the country.

He said only the companies named in the charge had been served with the charge sheet and assured Justice Lewis-Allagoa that all defendants would be present at the next sitting.

The judge adjourned the matter to February 27 with clear instructions for all defendants to appear in court and take their pleas.

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