The Nigeria Police Force has withdrawn the fraud charge against Gbolahan Obanikoro and four others in connection with an alleged N1.3 billion fraud involving Access Bank.
Obanikoro, alongside 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, 2025.
However, according to a legal notice filed under Section 108(1) of the Administration of Criminal Justice Act, 2015, the prosecution formally withdrew the charges without stating a reason. The notice, dated February 4, was signed by Chief Superintendent of Police J. I. Enang.
The defendants had been accused of fraudulently obtaining N1,356,057,330.43 from Access Bank between May and September 2013 under false pretenses of financing car imports from Dubai. They allegedly converted the funds for personal use, knowing they were proceeds of unlawful activities.
During the last hearing on January 31, the court had fixed February 27 for the defendants’ arraignment. The prosecution had requested more time to ensure all accused persons appeared before the court. However, the latest withdrawal notice suggests that the case may now be struck out as early as Friday.
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