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A Lagos High Court has issued an arrest warrant for top officials of Access Bank and other defendants over allegations of fraudulent loan transactions involving a property owned by Gbolahan Obanikoro’s company, MOB Integrated Services.
The controversy stems from a ₦1 billion loan granted by Access Bank to DDSS International Company Limited in 2019, using a property at 40B Bourdillion Road, Ikoyi, as collateral without the owner’s consent.
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The property had previously secured a loan for Balmoral International Limited in 2013, which was fully repaid.
Obanikoro accuses Bank of fraudulent loan collateral use
Obanikoro, through insiders, alleged that the bank re-used the same property for another loan without informing him.
The loan was approved under the signatures of Access Bank officials Bukola Shoyombo and Oreoluwa Roy-Egbokhan for the financing of luxury vehicle sales.
Following a formal complaint, the Lagos State Government filed a four-count charge against Access Bank, its Managing Director, Bolaji Agbede, and other parties, including Balmoral’s Managing Director, Adejare Adegbenro.
The charges include conspiracy, stealing, and attempted theft.
Justice Ibironke Harrison of the Lagos High Court, sitting at Tafa Balewa Square, ordered the arrest of the accused after they failed to appear in court.
“The defendants were duly served but refused to honour the court’s summons,” prosecutor Uthman Rilwan informed the court.
The case has been adjourned to February 24, 2025, for arraignment.
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