No Justification Given as Police Drop N1.3bn Fraud Charges Against Obanikoro’s Son, Others The Nigeria

The Nigerian Police Force has withdrawn a fraud charge against Mr. Gbolahan Obanikoro and four others over an alleged N1.3 billion fraud involving Access Bank.  

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

Earlier, the court had fixed the arraignment date after setting January 31, 2025, as the initial hearing for the case, which involved an alleged N1,356,057,330.43 fraud.  

However, in a notice of withdrawal issued on Thursday, the police informed the court of their decision to discontinue the case.

 The withdrawal notice, filed under Section 108(1) of the Administration of Criminal Justice Act, 2015, was dated February 4 and signed by Chief Superintendent of Police J. I. Enang. It stated:  

“Take notice that the prosecution hereby withdraws the above-mentioned charge against the defendants herein.” 

The police did not provide any reason for the withdrawal of the charges.  

Details About the Case

The case which was marked FHC/L/902c/2024, accused the defendants of conspiracy, obtaining money under false pretenses, and fraudulent dealings amounting to N1,356,057,330.43.  

The Inspector General of Police, through the Special Fraud Unit in Ikoyi, Lagos, had alleged that between May and September 2013, the defendants conspired to fraudulently obtain the sum from Access Bank Plc (formerly Diamond Bank).  

They were also accused of converting, transferring, and retaining the funds while knowing or having reason to believe that the money was the proceeds of unlawful activity. 

Additionally, they allegedly diverted N1 billion from the bank for personal use.  

Previous Court Proceedings

At the last hearing, the prosecutor, M.Y. Bello, informed the court that the matter was set for arraignment. However, he requested a new date to ensure all defendants were present to take their pleas.  

Counsel for the fourth defendant, Joshua Abel, argued that many of the defendants, who were company directors, were outside the country and had not yet been served. He assured the court that all defendants would be present at the next hearing.  

Following these submissions, Justice Lewis-Allagoa adjourned the case to February 27 for arraignment.  

Meanwhile, sources indicate that a hearing to formally strike out the case may take place on Friday.