Obanikoro’s Son, Gbolahan, Others Fraudulently Obtained N1.3bn from Access Bank, IGP Tells Court

Gbolahan Obanikoro


The Police Special Fraud Unit (PSFU) has informed Justice Ambrose Lewis-Allagoa of the Federal High Court, Ikoyi, Lagos, that Gbolahan Obanikoro, son of former Senator Musiliu Obanikoro, and four others, allegedly conspired to fraudulently obtain the sum of N1,356,057,330.43 from Access Bank Plc (formerly Diamond Bank) between May and September 2013.

The accusation is as contained in the charge instituted by the Inspector General of Police (IGP), Kayode Egbetokun, through the PSFU.

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

According to the charges, the defendants falsely claimed the funds were needed to finance the importation of cars from Dubai for resale in Nigeria. 

They were further accused of diverting the funds for personal use, transferring and disguising the origin of the money, and knowingly dealing with proceeds of unlawful activities. 

The defendants are specifically facing five counts of conspiracy, obtaining by false pretence, and money laundering, which the prosecution said violate the Advance Fee Fraud and Other Fraud-Related Offences Act of 2006 and the Money Laundering (Prevention and Prohibition) Act of 2022. 

Meanwhile, Justice Lewis-Allagoa fixed February 27, 2025, for the arraignment of Gbolahan Obanikoro and the other defendants.

The arraignment, initially scheduled for January 19, was adjourned owing to the absence of the defendants in court. 

During the hearing on the case, the prosecution, led by M.Y. Bello, made a request for a new date, arguing that the defendants had failed to appear. 

But the defence counsel, Joshua A. told the court that his clients were out of the country and that only the companies named in the charges had been served with court documents. 

He assured the court that all defendants would attend the next hearing. 

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