Obanikoro: Police Withdrew Charge against Us After Discovering Access Bank’s Fraud

The Managing Director of MOB Integrated Limited, Mr. Gbolahan Obanikoro, has said the Nigeria Police Force withdrew the charge of alleged N1.3 billion filed against him and four others, was because they discovered from their investigation that Access Bank was fraudulently attempting to appropriate their property over a loan they knew nothing about to a third party.

In a statement issued to further “set the record straight”, Obanikoro disclosed that the police withdrew the four-count charge against him his company M. O. B. Integrated Limited after the police discovered the fraudulent attempt of Access Bank to convert their property over a loan to a third party.

“Following the withdrawal of charge No: FHC/902C/2024 between Inspector General of Police V Adejare Adegbenro and others vs the Management of MOB Integrated Services Limited, (MOB) considers it appropriate to set the record of events straight to all the stakeholders and members of the Public, especially, in light of the various media reports on this matter.

“In 2013, Balmoral International Limited (Balmoral) and Diamond Bank Pic (now Access Bank Plc) entered into a loan transaction for the disbursement of N333,139,000 to Balmoral,” the statement read.

Explaining further, Obanikoro stated that while the drawdown condition mandated Balmoral to provide a property as collateral, the Managing Director of Balmoral, Mr. Adejare Adegbenro, pleaded with MOB integrated Services Limited, and himself as the Managing Director, to provide the third party Mortgage and promised to fulfill all the loan conditions including payment of the facility at the due date.

He added that based on the representations, MOB provided a third-party legal mortgage over their property at No. 40B Bourdillon Road, Ikoyi, Lagos as security for the loan.

Upon the conclusion of the initial loan transaction, Diamond Bank (now Access Bank Plc), he said, shockingly granted additional credit facilities to Balmoral without the knowledge or consent of the company, yet Diamond Bank (now Access Bank Pic) still used the property as security for these additional facilities.

Obanikoro recalled that sometime in 2017, they made inquiries on the status of the transaction, and to their greatest surprise, Diamond Bank (now Access Bank Plc) stated that the facility had now ballooned to N1,844,038,276.01 and in fact, followed it up with a Letter of Demand for the said sum.

“When our Company requested the Bank Statement of Balmoral to know the current state of indebtedness, the Bank refused to provide us with the document.

“Further investigation revealed that Diamond Bank Plc and Balmoral had entered into a consent Judgement in a Suit before the Federal High Court, Lagos State in Suit No: FHC/L/CS/709/2016 and agreed to use our Company’s Property to satisfy the alleged indebtedness by Balmoral.

“MOB was not a party to the Suit and was not aware of the pendency of any Suit until a Demand was written to it on the basis of the purported Consent Judgement between Diamond Bank PLC (Now Access Bank Plc) and Balmoral.

“Access Bank Plc took over Diamond Bank subsequently and also refused to provide us with the Bank Statement of Balmoral while holding onto our Property documents.

“Frustrated by the lack of cooperation received, our company lodged a complaint to the Nigeria Police Force on the matter and Access Bank Plc was then compelled to provide the bank statement to Balmoral and all documents relating to the matter,” the statement added.

According to the statement issued by the Director of Communications, MOB Integrated Services, findings from investigation showed that from the Bank Statement provided by Access Bank, there was no outstanding indebtedness to the Bank by Balmoral as Balmoral’s account showed a zero balance and was not overdrawn.

He stated that more startling revelation was that Access Bank in 2019 granted a credit facility of N1 billion to DDSS International Limited, a company completely unknown to them using their Company’s property as security for the loan arrangement.

“Following the discovery of this monumental fraud, the Nigerian Police Force raised a prima facie criminal case against Access Bank Plc, Balmoral, and their alter egos and forwarded their findings to the office of the Director of Public Prosecution, Lagos State, who in turn, filed a 4-count Information against Access Bank, its Managing Director, and other Defendants before Honourable Justice Harrison of the High Court of Lagos State.

“While this charge was pending and acting on the pretext that they wanted to resolve the matter amicably, Access Bank Plc surreptitiously instigated a frivolous and abusive criminal charge at the Federal High Court in CHARGE NO: FHC/L/902C/2024 between Inspector-General of Police v. Adejare Adegbenro & Ors against our Company and our Managing Director, Mr. Goolahan Obanikoro.

“Our Company quickly brought this malicious criminal charge to the attention of the office of the Inspector-General of Police, a quintessence of justice, who has continuously strived to encourage transparency and accountability in the performance of the duties of the Police.

“Upon considering the issues, the office of the Inspector-General of Police was able to see through the charade of illegality and manipulation displayed by Access Bank and instructed that the charge against our Company and our Managing Director be withdrawn, the Charge was withdrawn and struck out on February 7, 2025 by the Federal High Court.

“As of today, the only charge pending is against Access Bank, its Group Managing Director, Bolaji Agbede, and their coconspirators who are bent on converting our Company’s property.

“Given their refusal to appear in Court on January 20, 2025, the Court ordered the issue of a bench warrant for the arrest of Bolagi Agbede, Robert Imowo, and Roosevelt Ogbonna. The Police went to execute the warrant on February 7, 2025, but they were nowhere to be found. The matter is adjourned to February 24, 2025 for Access Bank and its Managing Director, Bolaji Agbede, to face trial.”