The Lagos Division of the Federal High Court has fixed February 27, 2025, for the arraignment of Gbolahan Obanikoro, the son of Senator Musliu Obanikoro, over alleged N1.356 billion fraud.

Mr Obanikoro and four other defendants are facing charges involving conspiracy, obtaining by false pretences, false representation, and fraud.

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

Justice Ambrose Lewis-Allagoa set the new date last Friday after the defendants failed to appear in court for their scheduled arraignment.

Momoh Bello, prosecuting counsel in the case, had informed the court that all defendants were observed notices requesting a bench warrant for the defendants.

However, the counsel for M.O.B Integrated Limited, Joshua Abel, argued against issuing a bench warrant.

He also explained that the service was received late, and most directors were out of the country.

Mr Lewis-Allagoa acknowledged the late service and directed the prosecution to regularise personal service on the first and second defendants.

The Special Fraud Unit of the Nigeria Police Force had accused Mr Obanikoro and the other defendants of conspiring to fraudulently obtain N1.36 billion from Access Bank Plc (formerly Diamond Bank) between May and September 2013.

The police also claimed that the funds were allegedly misappropriated and converted for personal use, knowing the money was the proceeds of unlawful activity.

According to the charge sheet, the offences contravene section 8(i)(a) and are punishable under section 1(3) of the Advance Fee Fraud and Other Fraud-Related Offenses Act, No. 14 of 2006, as well as section 18(2)(b) and (d) and 18(3) of the Money Laundering (Prevention and Prohibition) Act, 2022.

The court has adjourned the case to February 27, 2025, for the arraignment of all defendants.