Nigeria, Feb. 8 -- The Federal High Court in Ikoyi, Lagos, on Friday, struck out the fraud charges against Gbolahan Obanikoro and four others.

The development came after the Nigeria Police Force filed a notice of withdrawal of the N1.3 billion fraud case against the five defendants.

In November last year, the police, at the instance of Access Bank, charged Mr Obanikoro, alongside Adejare Adegbenro, Balmoral International Limited, M.O.B. Integrated Limited and DDSS International Company Limited with five counts of fraud arising from a N1.3 billion loan dating back to 2013.

Mr Obanikoro is the son of Musiliu Obanikoro, former senator for Laos Central.

Trial judge Ambrose Lewis-Allagoa already scheduled the arraignment of the defendants ...