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The counsel stressed that, if such frivolous suits were allowed to linger, development would be greatly hampered across the country.
The case was adjourned until May 31 for a hearing of the motion on notice.
The students pleaded not guilty to the charge.
Ms Famuyiwa said that the defendants collected the sum of N1.25 million from the complainant, Umeh Chinedu, to help him process Sweden visa, which he failed to do.
Mr Adeniyi alleged that the defendants had in their possession weeds suspected to be Indian hemp.
The witness was said to have sent a text message informing that he was drenched by rain and unable to get transportation to the court.
