Connect with us

Metro

Alleged N1.3bn Fraud: Court Sets Feb 27 to Arraign Obanikoro’s Son, Others

Published

on

Justice Ambrose Lewis-Allagoa of the Federal High Court in Lagos has scheduled February 27 for the arraignment of Gbolahan Obanikoro, the son of Senator Musiliu Obanikoro, and four other individuals over alleged conspiracy, obtaining by false pretenses, and involvement in a N1,356,057,330.43 billion fraud.

Others to be arraigned alongside Obanikoro are: Adejare Adegbenro, 51; Balmoral International Limited; M.O.B. Integrated Limited; and DDSS International Company Limited.

Justice Lewis-Allagoa set the date on Friday after the defendants failed to appear for their scheduled arraignment.

The Inspector General of Police, through the Special Fraud Unit (PSFU) in Ikoyi, Lagos, has accused all the defendants of conspiring between May and September 2013 to fraudulently obtain the sum of N1,356,057,330.43 from Access Bank Plc (formerly Diamond Bank). They allegedly misrepresented themselves to the bank’s staff and officers, claiming they were involved in the business of importing cars from Dubai for sale in Nigeria, and that the money was needed to finance the importation of a set of brand-new cars for resale.

The defendants are also accused of converting, transferring, retaining, or taking possession of the funds, knowing or having reason to know that such funds were proceeds of unlawful activity. Additionally, they are alleged to have unlawfully converted the sum of N1 billion belonging to the bank for personal use.

At the hearing on Friday, prosecutor M.Y. Bello informed the court that the matter was scheduled for the arraignment of all defendants. However, he requested a new date to allow all the defendants to appear in court and take their pleas.

Counsel for the defendants, Joshua A., explained that his clients were not in the country. He added that only the companies named in the charge had been served with the charge sheet. He assured the court that all defendants would be present at the next adjourned date to take their pleas.

In light of these submissions, Justice Lewis-Allagoa adjourned the matter to February 27 for the arraignment of all the defendants.

The five-count charge against the defendants reads: “That you, Adejare Adegbenro, Gbolahan Obanikoro, Balmoral International Limited, M.O.B. Integrated Limited, DDSS International Company Ltd, and other directors of the companies (now at large), between May and September 2013 in Lagos, with intent to defraud, conspired to commit felony, specifically obtaining money by false pretenses, and thereby committed an offense contrary to Section 8(i)(a) and punishable under Section 1(3) of the Advance Fee Fraud and Other Fraud-Related Offenses Act, No. 14 of 2006.

“That you, Adejare Adegbenro, Gbolahan Obanikoro, Balmoral International Limited, M.O.B. Integrated Limited, DDSS International Company Ltd, and other directors of the companies (now at large), between May and September 2013 in Lagos, with intent to defraud, obtained the sum of N1,356,057,330.43 (One Billion, Three Hundred Fifty-Six Million, Fifty-Seven Thousand, Three Hundred Thirty Naira, Forty-Three Kobo) from Diamond Bank (now Access Bank Plc) by falsely representing through its staff and officers that you and your companies were in the business of importing cars from Dubai for sale in Nigeria. Based on this false representation, the bank released the money as a loan, which you then diverted to your personal use. This action is contrary to Section 1(i)(a) of the Advance Fee Fraud and Other Fraud-Related Offenses Act, No. 14 of 2006 and punishable under Section 1(3) of the same Act.

“That you, Adejare Adegbenro, Gbolahan Obanikoro, Balmoral International Limited, M.O.B. Integrated Limited, DDSS International Company Ltd, and other directors of the companies (now at large), between May and September 2013, in Lagos, directly or indirectly converted, transferred, retained, or took possession or control of N1,356,057,330.43 (One Billion, Three Hundred Fifty-Six Million, Fifty-Seven Thousand, Three Hundred Thirty Naira, Forty-Three Kobo) belonging to Diamond Bank (now Access Bank Plc), knowing or having reason to know that such funds were proceeds of an unlawful act. This action is contrary to Section 18(2)(b) and (d) and punishable under Section 18(3) of the Money Laundering (Prevention and Prohibition) Act, 2022.

“That you, Adejare Adegbenro, Gbolahan Obanikoro, Balmoral International Limited, M.O.B. Integrated Limited, DDSS International Company Ltd, and other directors of the companies (now at large), sometime in May 2019 in Lagos, with intent to defraud, obtained the sum of N1,000,000,000.00 (One Billion Naira) from Diamond Bank (now Access Bank Plc) by falsely representing through its staff and officers that you and your company, DDSS International Company, were in the business of importing cars from Dubai for sale in Nigeria. The bank released the money to you as a loan, which you subsequently diverted to the account of another company, Balmoral International Limited, to disguise the true origin of the funds. This action is contrary to Section 1(i)(a) of the Advance Fee Fraud and Other Fraud-Related Offenses Act, No. 14 of 2006 and punishable under Section 1(3) of the same Act.

“That you, Adejare Adegbenro, Gbolahan Obanikoro, Balmoral International Limited, M.O.B. Integrated Limited, DDSS International Company Ltd, and other directors of the companies (now at large), sometime in May 2019, in Lagos, directly or indirectly converted, transferred, retained, or took possession or control of N1,000,000,000.00 (One Billion Naira) belonging to Diamond Bank (now Access Bank Plc), knowing or having reason to know that such funds were proceeds of an unlawful act. This action is contrary to Section 18(2)(b) and (d) and punishable under Section 18(3) of the Money Laundering (Prevention and Prohibition) Act, 2022.”

Continue Reading
Advertisement


Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Metro

Technology Behind Smartphones: Why Africa Needs More Chip Engineers

Published

on

From smartphones and laptops to
vehicles and AI systems, semiconductors are essential to modern technology. Yet, the expertise required to design these components remains concentrated in a relatively small number of global
technology hubs.

ChipMango is working to expand access to semiconductor engineering skills and commercial opportunities for African engineers. Its journey also highlights why initiatives such as EIB’s Boost Africa matter. By supporting venture capital funds investing in innovative African businesses, Boost Africa helps strengthen the financing ecosystem needed to develop specialised technology companies. Watch the video to learn how
ChipMango is contributing to Africa’s place in the global technology industry.

Watch the video:

Continue Reading

Metro

2027: Appeal Court Picks 375 Judges for Election Petition Tribunals

Published

on

The Court of Appeal has inaugurated 375 judges for election petition tribunals across the country ahead of the 2027 general elections, setting in motion preparations for the adjudication of electoral disputes that may arise from the polls.

President of the Court of Appeal, Justice Monica Dongban-Mensem, inaugurated the judges on Monday at the Body of Benchers Complex in Abuja, coming 68 days before the 2027 general elections.

The tribunals will hear and determine petitions arising from elections into the National and State Houses of Assembly, as well as governorship elections, in line with the provisions of the 1999 Constitution, as amended.

Speaking at the inauguration, Dongban-Mensem said the exercise represents an important institutional step towards safeguarding constitutional democracy, upholding the rule of law and preserving the integrity of Nigeria’s electoral process.

She stressed that the responsibility of the judiciary extends beyond the formal determination of disputes, noting that the manner in which election petitions are handled has significant implications for public confidence in democratic governance.

“This gathering is more than a ceremonial event; it is an important institutional preparation for one of the most consequential responsibilities entrusted to the judiciary,” she said.

Dongban-Mensem maintained that the credibility of democratic institutions depends not only on the conduct of elections but also on the availability of impartial and effective judicial mechanisms for resolving disagreements over electoral outcomes.

“The credibility of democracy depends not only on the conduct of elections but also on the existence of impartial, effective, and timely mechanisms for resolving electoral disputes,” she added.

She further explained that the judiciary’s responsibility in electoral matters is central to ensure that the outcome of democratic contests is subjected to lawful scrutiny whenever challenged.

“Through the fair determination of such disputes, the Judiciary safeguards the people’s mandate, upholds constitutional supremacy and sustains public confidence in democratic governance,” Dongban-Mensem noted.

Providing a breakdown of the tribunal membership, Dongban-Mensem disclosed that the 375 judges were nominated from various courts and judicial institutions across the country.

She said 138 of the judges are returning members who had previously served on election petition tribunals, while 237 are newly nominated.

“Of this number, 138 are returning members with previous Tribunal experience, while 237 are newly nominated members,” she said.

The composition brings together judicial officers with previous experience in election petition proceedings and newly nominated members who will be participating in the tribunal process for the first time.

The Court of Appeal President urged the judges to approach their assignments with a strong sense of responsibility, reminding them that their conduct and decisions would attract considerable public scrutiny.

She cautioned them, in particular, to remain mindful of the significance of their judicial responsibilities in determining disputes capable of affecting the political fortunes of candidates and parties, as well as public confidence in the electoral process.

The tribunal judges are expected to discharge their duties in accordance with the Constitution and applicable electoral laws, ensuring that petitions brought before them receive fair and lawful consideration.

The inauguration is pursuant to the constitutional and statutory framework governing the establishment and operation of election petition tribunals in Nigeria.

Section 285(1) and (2) of the 1999 Constitution, as amended, vests in the President of the Court of Appeal the responsibility of constituting election petition tribunals to adjudicate disputes arising from National and State Houses of Assembly elections, as well as governorship elections.

Similarly, Section 134(3)(a) and (b) of the Electoral Act, 2026, prescribes timelines for constituting the tribunals and opening their registries.

These provisions establish the legal framework for the tribunals to commence operations and entertain petitions arising from the elections.

The inauguration of the 375 judges comes as the country prepares for the 2027 general elections, with the judiciary expected to play a critical role in resolving post-election disputes and determining challenges to electoral outcomes in accordance with the law.

Continue Reading

Metro

2027 Guber: NDC’s Funso Doherty Vows to Break ‘Agbero’ Grip on Lagos Transport Sector

Published

on

The Nigeria Democratic Congress (NDC) governorship candidate in Lagos, Funso Doherty, has accused vested interests within the State’s informal transport sector of frustrating efforts to modernise public transportation.

Doherty made the remarks during the Lagos governorship debate on Friday organised by the Nigeria Debate Consortium comprising Channels Television, TVC News, The PUNCH, TheCable and Vanguard, where he criticised the continued reliance on ageing commercial buses and the influence of the agbero system in the State’s transport sector.

He questioned why successive administrations had failed to modernise public transportation despite the thousands of rickety buses operating across Lagos.

“Our public transportation system is not modernised. Thousands of rickety buses are moving around. We must ask ourselves: are these what our people deserve? Why has it taken so long to modernise public transportation?” he asked.

The NDC candidate argued that the failure to reform the system is not accidental, alleging that powerful interests benefit from the existing arrangement.

“In my opinion, the lack of modern transportation is not by accident. There are vested interests in operating the bus system the way it is. Many of us understand the agbero system; there is an ecosystem around it, and there is no political will to deal with that problem,” he said.

Doherty, who promised to overhaul the State’s public transportation system if elected, said his administration would not be beholden to informal transport networks.

“We would modernise public transportation because we would be elected by the people and not by the agbero network,” he added.

Continue Reading