Police Drop N1.3bn Fraud Case Against Obanikoro’s Son

The Nigeria Police Force has officially withdrawn the N1.3 billion fraud charges against Mr. Gbolahan Obanikoro, son of former Minister of State for Defense, Senator Musiliu Obanikoro, along with four co-defendants. The co-defendants include Mr. Adejare Adegbenro, Balmoral International Limited, M.O.B. Integrated Limited, and DDSS International Company Limited.

The defendants were scheduled for arraignment before Justice Ambrose Lewis-Allagoa at the Federal High Court in Lagos on February 27, 2025. However, in a notice dated February 4, 2025, and signed by Chief Superintendent of Police J.I. Enang, the prosecution expressed its intention to withdraw the charges. The notice, brought under Section 108(1) of the Administration of Criminal Justice Act, 2015, stated: “Take notice that the prosecution hereby withdraws the above-mentioned charge against the defendants herein.”

The defendants had been accused of conspiring between May and September 2013 to fraudulently obtain N1,356,057,330.43 from Access Bank Plc (formerly Diamond Bank). They allegedly misrepresented their business operations, claiming involvement in importing cars from Dubai for sale in Nigeria, and purportedly secured the funds to finance this venture. Additionally, they were accused of unlawfully converting N1 billion of the bank’s funds for personal use.

The initial arraignment was set for January 31, 2025, but was postponed to February 27 due to the defendants’ absence. With the recent withdrawal notice, the scheduled court proceedings are expected to be discontinued.

As of now, there is no information on whether the charges might be refiled or if any alternative legal actions will be pursued.