By Abiola Olawale
The crisis rocking Access Bank has begun to escalate after a Lagos State High Court granted an order to arrest the bank’s Acting Managing Director, Bolaji Agbede.
The Presiding Judge, Justice Ibironke Harrison, also ordered the arrest of those on the Board of Balmoral International Limited, DDSS International Company Limited, and Adejare Adegbenro, specifically who is the key promoters of the above entities for allegedly failing to appear for arraignment in Court.
Justice Harrison issued the arrest warrant after the Lagos State prosecution counsel, Uthman̈ Rilwan informed the court that he had served the defendants with notice to appear in court, but they failed to attend the arraignment.
The New Diplomat reports that this comes after the Lagos State government brought forward a four-count indictment against the defendants, encompassing charges of conspiracy, theft, and attempted theft.
As the case was called in the courtroom, Rilwan addressed the judge, clarifying that the objective of the day’s proceedings was to formally arraign the defendants. However, it was noted with concern that the defendants were not present, despite having been duly notified about the scheduled court date.
The prosecutor narrated the genesis of the issues, stating stated that on or about September 2, 2013, at Plot 1261, Adeola Hopewell Street, Victoria Island, Lagos, the defendants conspired to commit theft.
He alleged that Adejare Adegbenro, Balmoral, Access Bank, and Agbede stole the property of MOB Integrated Services at Plot 40b, Burdillion Road, Ikoyi, Lagos, by using it as security for a loan without the complainant’s consent and subsequently entered into a consent judgment.
Additionally, they were accused of attempting to steal the property of MOB Integrated Services on May 26, 2019, by offering and granting DDSS International Company Limited a credit facility of N1 billion.
According to the prosecutor, these offenses contravened Sections 411, 280, and 21 of the Criminal Laws of Lagos State 2011.
Rilwan stated, “My Lord, this matter is for arraignment today, and the defendants have been duly served with a copy of the charge. We request the court to issue a bench warrant for the defendant’s arrest to ensure they attend proceedings on the next court date.”
In light of the circumstances presented during the proceedings, Justice Harrison took decisive action by issuing a bench warrant targeting the second to fifth defendants, which include Balmoral International Limited, Adejare Adegbenro, Access Bank, Bolaji Agbede, and DDSS International Company Limited.
The judge emphasized that this bench warrant should be executed against the principal officers associated with these entities. Furthermore, the case has been adjourned, with a new date set for February 24, 2025, when the defendants are expected to be formally arraigned in court.
Recall that Adejare Adegbenro, a paternal grandson of Chief Dauda Adegbenro, former premier of old Western Region as well as maternal grandson of late Pa Alfred Rewane, a prodemocracy fighter during late Gen Abacha’s dictatorship, has been enmeshed in financial crisis since last year when he and his associated company, Balmoral were dragged to court over an alleged N2bn debt.
Adejare Adegbenro is the Acting DG of National Commission Against Proliferation of Arms, light weapons and pipeline Vandalism(NATCOM)
