The Nigeria Police Force has decided to drop fraud charges against Mr. Gbolahan Obanikoro, the son of former Senator Musiliu Obanikoro, along with four other defendants, over an alleged N1.3 billion fraud involving Access Bank.
The five individuals, including Adejare Adegbenro, Balmoral International Limited, M.O.B. Integrated Limited, and DDSS International Company Limited, were initially scheduled to face trial on February 27, 2025, before Justice Ambrose Lewis-Allagoa at the Federal High Court in Lagos. This followed accusations of conspiring to fraudulently obtain over N1.3 billion from Access Bank.
On January 31, the court had set February 27 for the arraignment, but the police officially withdrew the charges on February 4. In a notice signed by Chief Superintendent of Police J.I. Enang, the police informed the court of their intent to drop the case, citing Section 108(1) of the Administration of Criminal Justice Act, 2015. No specific reason for the withdrawal was provided.
The case, under suit number FHC/L/902c/2024, initially accused the defendants of conspiracy, obtaining money through false pretenses, and their involvement in the N1.3 billion fraud. The police alleged that between May and September 2013, the group misled Access Bank officials by claiming they needed funds to import cars from Dubai for resale in Nigeria. They were also accused of converting the bank’s funds for personal use.
At the January hearing, the prosecutor, M.Y. Bello, confirmed that the arraignment was imminent but requested a delay to ensure all defendants were present, as some were abroad. The court granted the adjournment, setting the matter for February 27. However, with the charges now withdrawn, the hearing may be canceled.
