Investors and Customers are jittery as Access Bank CEO Bolaji Agbede and top officials face arrest over alleged theft.
NewsOnline Nigeria reports that security agencies stormed Access Bank HQ to execute a Bench Warrant for the arrest of CEO Bolaji Agbede and senior officials.
This Nigeria news platform understands that the Lagos High Court issued the warrant after they failed to appear for a case involving conspiracy, stealing, and attempted theft.
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The legal battle stems from allegations that Access Bank fraudulently converted property documents belonging to MOB Integrated Services Limited.
The dispute began with an N333M loan to Balmoral International from Diamond Bank (now Access Bank), using MOB’s property at 40B Bourdillon Road, Ikoyi, as collateral. However, Access Bank allegedly used the same property as collateral for a separate N1B loan without MOB’s consent.
Justice Ibironke Harrison issued the Bench Warrant after the defendants failed to appear in court for arraignment on January 20, 2025. On February 5, police, led by an Assistant Commissioner, arrived at Access Bank’s HQ but were informed that the CEO was in a meeting and the Company Secretary was in London. After discussions with the bank’s legal team, police secured assurances that the accused would appear at the next hearing on February 24, 2025.
The Lagos State government has filed a four-count charge in case LD/24884C/2024 – The State of Lagos v. Adejare Adegbenro & Ors. Authorities continue investigating the alleged fraudulent property conversion as they crack down on financial misconduct in Nigeria’s banking sector.
