The Federal High Court in Ikoyi, Lagos, has dismissed the ₦1.3 billion fraud case against Gbolahan Obanikoro and four others.
This decision came after the Nigeria Police Force filed a notice to withdraw the charges.
Recall that in November 2024, Access Bank accused Mr. Obanikoro, Adejare Adegbenro, Balmoral International Limited, M.O.B. Integrated Limited, and DDSS International Company Limited of fraud linked to a ₦1.3 billion loan taken in 2013. The police filed charges against them based on the bank’s complaint.
The case was initially set for arraignment on 27 February 2025.
However, on Wednesday, the police informed the court that they wanted to withdraw the charges, though no reason was given.
During Friday’s hearing, Mr. Obanikoro’s lawyer, Joshua Abel, pointed out that since the prosecution had withdrawn the case, there was no need for the scheduled arraignment.
The judge agreed and officially struck out the case.
A separate case is ongoing involving a ₦1 billion loan obtained in 2019 by Mr. Obanikoro’s former business partner, Adejare Adegbenro. Mr. Obanikoro claims that Adegbenro used his property at 40B Bourdillon Road, Ikoyi, Lagos, as collateral without his permission.
This case is currently being heard at the Lagos State High Court. On 20 January 2025, Justice Ibironke Harrison ordered the arrest of Mr. Adegbenro and other defendants, including Access Bank’s acting managing director, Bolaji Agbede, for failing to appear in court.
The next hearing is scheduled for 24 February 2025.
