The Federal High Court in Lagos has fixed February 27, 2025, for the arraignment of Gbolahan Obanikoro, son of Senator Musiliu Obanikoro, and four others over allegations of N1.36 billion fraud.
The defendants, including Adejare Adegbenro, Balmoral International Limited, M.O.B. Integrated Limited, and DDSS International Company Limited, face five counts of conspiracy, obtaining by false pretenses, false representation, and fraud.
Justice Ambrose Lewis-Allagoa set the date after the defendants failed to appear for their arraignment on Friday.
Prosecuting counsel Momoh Bello informed the court that all defendants had been served with the case details but were absent.
Counsel for M.O.B. Integrated Limited, Joshua Abel, argued against issuing a bench warrant, explaining that service was received late, and most directors were out of the country.
Justice Lewis-Allagoa acknowledged the late service and directed the prosecution to regularize personal service on the first and second defendants.
The Special Fraud Unit of the Nigeria Police Force accused the defendants of conspiring to fraudulently obtain N1.36 billion from Access Bank Plc between May and September 2013.
However, the funds were allegedly misappropriated under the pretext of financing car imports from Dubai.
According to the charge sheet, the defendants diverted N1 billion of the bank’s funds for personal use, in violation of the Advance Fee Fraud and Other Fraud-Related Offenses Act, 2006, and the Money Laundering (Prevention and Prohibition) Act, 2022.
The court has adjourned the case to February 27, 2025, for the arraignment of all defendants.
