Police withdraw charge against Obanikoro’s son, others over alleged N1.35b fraud

The police have withdrawn the case against Gbolahan Obanikoro, the son of Senator Musiliu Obanikoro, and four others, over alleged N1.3 billion fraud involving a bank.

Obanikoro, alongside Adejare Adegbenro, Balmoral International Limited, M.O.B. Integrated Limited and DDSS International Company Limited, were billed for arraignment before Justice Ambrose Lewis-Allagoa of the Federal High Court in Lagos on February 27, 2025.

However, the police, in a notice of withdrawal brought under Section 108 (1) of the Administration of Criminal Justice Act, 2015, have informed the court of a desire to withdraw the charge against the defendants.

The document, dated February 4, and signed by a Chief Superintendent of Police, J. I. Enang, read in part: “Take notice that the prosecution hereby withdraws the above-mentioned charge against the defendants herein.

However, no reason was given for the withdrawal of the charge.

In the suit marked FHC/L/902c/2024, the defendants were accused of conspiracy, obtaining by false pretences, and involvement in a N1.35 billion fraud.

The Inspector-General of Police had through the Special Fraud Unit (PSFU) in Ikoyi, Lagos, accused all the defendants of conspiring between May and September 2013 to fraudulently obtain the sum of N1.35 billion from Access Bank Plc (formerly Diamond Bank).

They allegedly misrepresented themselves to the bank’s members of staff and officers, claiming that they were involved in the business of importing cars from Dubai for sale in Nigeria and that the money was needed to finance the importation of a set of brand-new cars for resale.

They were alleged to have unlawfully converted the sum of N1 billion belonging to the bank for personal use.

When the matter came up last month, the prosecutor, M.Y. Bello, informed the court that the matter was scheduled for the arraignment of all defendants.

He, however, requested a new date to allow all the defendants to appear in court and take their pleas.

In light of the submissions, Justice Lewis-Allagoa adjourned the matter to February 27 for the arraignment of all the defendants.

Meanwhile, there were indications that the hearing for the case to be struck out might be held today, Friday, February 7, 2025.