Access Bank MD, Others In Messy Multi-billion Naira Property Theft Scandal, Ordered Arrested By Lagos Court

The Acting Managing Director of Access Bank PLC, Bolaji Agbede, and three others are currently embedded in a multi-billion naira property theft scandal of which a Judge of the Lagos State High Court, Justice Ibironke Harrison, has ordered their arrest.

According to report in investigative news portal, The Eagle Online, the Judge ordered the arrest of the defendants, including the Acting Managing Director of Access Bank, following their failures to show up in court.

The other defendants alongside Agbede in the case of conspiracy, obtaining by false pretence, and fraud totaling N1.356 billion are Balmoral International Limited, DDSS International Company Limited, and Adejare Adegbenro.

The allegations stem from a 2013 incident where the defendants allegedly used MOB Integrated Services’ property as loan security without consent.

The property, located at Plot 40b, Bourdillon Road, Ikoyi, belongs to a firm owned by Gbolahan Obanikoro, son of a former Minister of State for Defence, Senator Musiliu Obanikoro.

Access Bank has been accused of alleged attempt to steal the same property by granting a N1 billion credit facility to DDSS International Company Limited.

The court has scheduled the next hearing for February 24, 2025.
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The charge sheet as signed by the Directorate of Public Prosecutions, Ministry of Justice, Lagos State, reads: Conspiracy to Commit a Felony to wit; Stealing Contrary to Section 411 of the Criminal Law, Ch. C17, Vol.3, Laws of Lagos State, 2015.

PARTICULARS OF OFFENCE

ADEJARE ADGBENRO (M), BALMORAL INTERNATIONAL LIMITED, ACCESS BANK and BOLAJI AGBEDE (M) on or about the 2nd day of September, 2013 at Plot 1261, Adeola Hopewell Street, Victoria Island, Lagos State in the Lagos Judicial Division, conspired to commit a felony to wit; Stealing.

STATEMENT OF OFFENCE-COUNT 2

Conspiracy to Commit a Felony to wit; Stealing Contrary to Section 411 of the Criminal Law, Ch. C17, Vol.3, Laws of Lagos State, 2011.

PARTICULARS OF OFFENCE

ADEJARE ADGBENRO (M), BALMORAL INTERNATIONAL LIMITED, ACCESS BANK, BOLAJI AGBEDE (M) and DDSS INTERNATIONAL COMPANY LIMITED on or about the 2nd day of September, 2013 at Plot 1261, Adeola Hopewell Street, Victoria Island, Lagos State in the Lagos Judicial Division, conspired to commit a felony to wit; Stealing.

STATEMENT OF OFFENCE-COUNT 3

Stealing Contrary to Section 280 of the Criminal Law, Ch. C17, Vol.3, Laws of Lagos State, 2011.

PARTICULARS OF OFFENCE

ADEJARE ADGBENRO (M), BALMORAL INTERNATIONAL LIMITED, ACCESS BANK and BOLAJI AGBEDE (M) on or about the 2nd day of September, 2013 at Plot 1261, Adeola Hopewell Street, Victoria Island, Lagos State in the Lagos Judicial Division, stole the property of MOB Integrated Services at Plot 40b, Bourdillion Road, Ikoyi, Lagos by using it as a security for loan without his consent and subsequently entering into a consent judgment.

STATEMENT OF OFFENCE-COUNT 4

Attempted Stealing Contrary to Section 21 of the Criminal Law, Ch. C17, Vol.3, Laws of Lagos State, 2015.

PARTICULARS OF OFFENCE

ADEJARE ADGBENRO (M), BALMORAL INTERNATIONAL LIMITED, ACCESS BANK, BOLAJI AGBEDE (M) and DDSS INTERNATIONAL COMPANY LIMITED on or about the 26th day of May, 2019 at Plot 1261, Adeola Hopewell Street, Victoria Island, Lagos State in the Lagos Judicial Division, attempted to steal the property of MOB Integrated Services at Plot 40b, Bourdillion Road, Ikoyi, Lagos by offering and granting DDSS International Company Limited a credit facility of N1,000,000,000.00 (One Billion Naira) Only.