Access Bank MD Faces Legal Trouble: Unauthorized Collateral Use Sparks Arrest Warrant
A Lagos State High Court has issued a bench warrant for the arrest of Access Bank’s Acting Managing Director, Bolaji Agbede, along with Balmoral International Limited, DDSS International Company Limited, and Adejare Adegbenro. The warrant was issued after these parties failed to appear for their scheduled arraignment.
The Lagos State government has filed a four-count charge against the defendants, alleging conspiracy, stealing, and attempted theft. The charges pertain to the unauthorized use of a property belonging to MOB Integrated Services, located at Plot 40b, Bourdillon Road, Ikoyi, Lagos, as collateral for a loan without the owner’s consent. The defendants are also accused of attempting to steal the same property by offering and granting a credit facility of ₦1 billion to DDSS International Company Limited.
Justice Ibironke Harrison ordered that the bench warrant be executed against the principal officers of the implicated organizations and adjourned the case until February 24, 2025, for the defendants’ arraignment.
In response to related reports, Access Bank has issued a statement clarifying that its Group Managing Director, Herbert Wigwe, has not been arrested, addressing rumors circulating on social media.