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Court begins trial of Oak Homes CEO, Olukayode Olusanya for ‘N152m fraud’

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The trial of Oak Homes CEO, Olukayode Olusanya, over an alleged N152 million fraud has officially commenced at the Federal High Court in Lagos

On Tuesday, an Assistant Superintendent of Police, Egho Amiebelomo, told the court that the ongoing N152 million fraud case against Olusanya, the founder of Oak Homes Limited, and the company itself, involved allegations of fraud, obtaining under false pretence, and stealing.

Olusanya and his company are facing a four-count charge brought by the police, which includes conspiracy, obtaining money under false pretence, fraud, and stealing.

They were arraigned on November 26, 2024, and pleaded not guilty.

According to the police, Olukayode Olusanya conspired with Lynda Umeh—Head of Sales and Marketing at Oak Homes, who is currently at large—to defraud a Nigerian-American engineer, Anthony Ugbebor.

The alleged fraud occurred between November 8, 2017, and August 4, 2020, when they reportedly convinced Ugbebor to pay N152 million for two three-bedroom apartments at Oak Residence in Victoria Island, with a promise to deliver the property by February 28, 2019.

However, the property was never handed over.

At a previous hearing on February 10, 2025, the prosecution attempted to submit both the complainant’s petition and the defendant’s statement as evidence, but the defence objected.

Justice Musa Kakaki had adjourned the ruling on the admissibility of those documents to Tuesday.

At the resumed session, Justice Kakaki ruled on the matter. While the complainant’s petition was admitted and marked as Exhibit A, the defendant’s statement was rejected.

The judge explained: “The petition sought to be tendered is signed. I admit the same in evidence and mark it as Exhibit A.”

Regarding the defendant’s statement, the judge ruled: “The statement is hereby marked as rejected.”

He stated the prosecution had failed to comply with Section 17(2) of the Administration of Criminal Justice Act.

Taking the stand as the first prosecution witness, Amiebelomo testified that he had invited three additional witnesses—Mrs. Kofo Coker, Mr. Seye, and Mr. Shuiabu—during his investigation.

When asked by prosecuting counsel Supol M. A. Omo-Osagie if any of them submitted documents, he replied: “Yes, they tendered the payment receipt and offer letter from the defendant, issued in 2017, which the complainant, Anthony Ugbebor, accepted.”

The judge then adjourned the trial to July 8, 2025, for continuation.

During cross-examination, defence counsel Adeleke Agboola (SAN) asked Amiebelomo when the petition was dated. He responded: “It was dated December 27, 2023.”

He added that the petition was submitted to the Assistant Inspector General of Police, Zone 2, and was assigned to him for investigation on the same day.

Amiebelomo also confirmed that he met Ugbebor in person after the petition was transferred to his department, and that the complainant made and signed a statement in his presence.

When asked to verify the authenticity of the signature on the petition, the officer said: “I’m not a signature expert.”

He further disclosed that the Economic and Financial Crimes Commission (EFCC) had previously handled the case but said he was unaware that Olusanya had refunded N110 million to the EFCC via bank draft.

He also stated that Olukayode Olusanya did not inform him of any partial payment during the investigation.

Under questioning, Amiebelomo said he was unaware of a civil suit—No. LD447LMW/2023—pending before the Lagos State High Court, in which a pre-emptive injunction had reportedly been granted against both the complainant and the EFCC.

“They were not served,” he stated.

Agboola argued that the case was purely civil in nature and pointed to existing court decisions prohibiting police involvement in such matters.

However, the prosecution objected to this line of questioning.

Citing legal authority, Omo-Osagie maintained that civil transactions could become criminal if fraud is involved. He invoked Section 135 of the Evidence Act and urged the court to disregard the defence’s argument.

Counsel for Oak Homes, Mr. E. Jude, later suggested that Amiebelomo’s investigation was inconclusive. The officer responded:

“My investigation was conclusive. When I visited the location, the building was not complete.”

When asked if the defendant offered any explanation during the investigation for failing to deliver the property, Amiebelomo replied: “Yes.”

He added: “The defendant said the price he agreed with Ugbebor was no longer workable for him, as costs had increased, and that he would not go ahead with the initial terms. That was what he told me.”

Asked whether Olusanya mentioned COVID-19 or the sealing of the property by the Lagos State Government as reasons for the delay, Amiebelomo said:

“No, he didn’t mention COVID or the sealing of the building by the Lagos State Government.”

(S) Witnessngr

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EFCC Arrests Two Metrodigital TV Staff for Illegal Rebroadcast of DStv, GOtv Channels

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Operatives of the Economic and Financial Crimes Commission (EFCC), on Thursday, arrested two staff members of Metrodigital Television Ltd, operators of SLTV, in Port Harcourt, Rivers State, over alleged illegal rebroadcasting of DStv and GOtv content. The operation followed a Preservation Order issued by the Federal High Court empowering the EFCC and other law enforcement agencies to take possession of equipment and documents linked to the alleged piracy. TheThe raid, carried out at No. 12 Order Street, Rumuola, Stadium Link Road, GRA Phase IV, Port Harcourt, saw EFCC operatives seize broadcasting machines, decoders, transmission equipment, servers and several documents believed to contain records of signal manipulation. The Commission also took statements from staff members on duty during the enforcement action. The arrested men are Chinedu Nwaikwu, a director, and Uche Kanu, an engineer in the transmission room. They were caught with 22 decoders they were using for transmission at the time of arrest.The court’s Preservation Order specifically directed the EFCC to secure and label all items connected with the unauthorised rebroadcast of DStv and GOtv channels, and to preserve them as exhibits for trial. A detailed seizure report with photographs and serial numbers of the confiscated materials is expected to be tendered before the court.In a separate directive, the court issued an injunction restraining Metrodigital Television Ltd, its chief executive officer, Mr. Ifeanyi John Nwafor, and other associated companies including Denna Rossi Limited, Kristal Food and Beverages, and QTV Plus Limited from further accessing or transmitting the program-carrying signals, channels, and contents of DStv and GOtv pending the determination of the case.The injunction also mandated law enforcement agencies to serve the order on all the listed defendants, shut down any ongoing unauthorised signal feeds, and monitor compliance to prevent further infringement.Additionally, the court granted a Post-No-Debit (PND) restriction on several bank accounts linked to the alleged piracy proceeds. The affected accounts include those of Ifeanyi John Nwafor, Metrodigital Television Ltd/SLTV, Denna Rossi Limited, Kristal Food and Beverages, and QTV Plus Limited. The EFCC has been directed to notify commercial banks to enforce the restrictions, obtain account and BVN details, and preserve the funds as suspected proceeds of crime.The case has been adjourned to October 22, 2025, for plea and continuation of trial. The court, however, declined to grant the EFCC’s request for an arrest warrant and INTERPOL watch-listing of the defendants, noting that they had not yet been formally arraigned.The EFCC has since assured the court that all seized items have been properly secured and will be presented as evidence at the next hearing. The Commission reiterated its resolve to dismantle illegal content redistribution networks and protect the intellectual property rights of legitimate broadcasters.The arrests and seizures were executed strictly under the authority of the Federal High Court’s preservation, injunction, and Post-No-Debit orders.

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Railway Corporation Law to boost safety – Lagos lawmakers

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The Lagos State House of Assembly has said it is considering a Railway Corporation bill for a body that would oversee the daily running of the train and related infrastructure in the state.

The Speaker of the Assembly, Mudashiru Obasa, the Majority Leader of the House, Noheem Adams and the chairman of the transport committee of the House, Adewale Temitope, made the position known on Wednesday at a stakeholders’ meeting.

According to them, the bill aims to strengthen the state’s transport infrastructure and improve the efficiency in the transportation sector.

In his remarks, Obasa, who was represented by the Deputy Speaker, Hon. Mojisola Meranda (Apapa I), said the stakeholders’ meeting underscored the Assembly’s commitment to participatory governance and transparency.

“Railway transportation is a critical component of modern infrastructure and social service delivery. It supports trade, commerce, and economic growth by providing safe, efficient, and affordable mobility,” he said.

According to her, the bill will empower the proposed corporation to collaborate with public and private partners on effective service delivery.

In his overview of the bill, Hon. Adams, said the proposed law seeks to create a Railway Corporation to oversee the activities of the train services in a bid to improve transportation in Lagos State.

Adams, who is the sole sponsor of the bill, said the corporation is to operate, maintain and develop railway infrastructure as well as liaise with other agencies and stakeholders for effectiveness.

“The bill seeks to put in place a more robust railway transportation system to reduce traffic congestion and improve socio-economic development of the state,” he said adding that it is in the interest of Lagosians as their overall well-being would be improved when it becomes operational.

“The purpose of the bill is to provide sustainable environmental alternative to rural transport.

“Clause 2 of the bill gives it a legal personality while clause 4 establishes the board which comprises of a chairman that has at least 15 years experience in transportation services, the commissioner for Transport and others.

“The functions of the corporation will include managing and maintaining the infrastructure and the daily running of the subsector as well as liaise with other agencies in charge of transportation in the state,” he added.

He said the corporation will have a Managing Director to oversee day-to-day operations with clause 26 establishing the office of an Inspector of Railways tasked with ensuring safety, operational integrity, and regular inspection of trains and tracks.

in his remarks, Hon. Adewale explained that the hearing of the bill which was sponsored by Hon. Adams followed its second reading on the floor of the House.

Adewale said the initiative would strengthen Lagos’ intermodal transport system and help decongest the state’s roads.

“The goal is to make mass transit more efficient and accessible to all Lagosians, ensuring all transport systems are properly connected,” he noted adding that the Lagos Metropolitan Area Transport Authority (LAMATA) would retain its role as the regulatory body overseeing the state’s transport sector.

The private-member bill contains 28 clauses.

In his contribution, Engr. Festus Todowede, who represented the Director-General of the Lagos State Safety Commission, stressed the need to prioritize passenger safety in the state.

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2027 General Elections: investigate retired Senior Civil Servants, Public Office Holders – Ndarani

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Abuja, Oct.15, 2025 (NAN) A Senior Advocate of Nigeria, Mohamed Ndarani, SAN has called for the investigation of all retired Chief Executive Officers and Directors in MDAs as well as public office holders ahead of the 2027 general elections.

Ndarani who made the call at a news briefing on Wednesday in Abuja said the call was necessary as another set of elections and the accompanying electioneering campaigning are practically around already.

He suggested that retired civil servants should be barred from contesting for any elective positions for at least one year to give the anti-corruption agencies the opportunity to investigate them.

“People with political ambitions are already beginning to throw their hats into the ring all the way from the local government tier to the presidency.

“Among those expected to emerge as political gladiators are retired civil servants, or those who resigned from public service or political appointments.

“A most instructive question here however is, after they leave the service, what happens? Do they routinely get investigated with their post-service assets by the anti-corruption agencies juxtaposed with what they had when they joined public service?

He said it is mandatory for public servants to declare their assets under the Code of Conduct Bureau (CCB) but sadly, this is hardly the case, except there is reason to investigate the individual.

“In the first instance there are laws under the Electoral Act 2022 guiding the financing of election campaigns which has never been followed in Nigeria.

“Section 88(2-7) stipulates the limits allowed for election expenses. Everybody just pays lip service to this veritable check and potential block to the activities of corrupt officials.

“This explains the main reason why many of them while in public service, line their pockets by every possible means, in anticipation of their making a foray into politics.

“It is cause for great concern that we hardly ever hear of politicians being sanctioned for running foul of the provisions of the said section 88(2-7)’’.

He frowned at the reluctance and at times outright refusal by public officials to publicly declare and submit their Asset declaration Forms.

The learned silk argued that non-compliance with the provisions of the CCB is responsible for the high level of corruption in the public service of Nigeria.

“Sadly, our politicians have been known to flout these laws with total impunity. They spend humongous amounts of money and in the process, stand the rest of the electoral laws on their heads.

“The tendency for public servants in Nigeria to plunder the nation’s treasury with shocking impunity during their employment is alarming and this is because they want to contest for political offices after retirement.

“This gets progressively worse as the date of their disengagement approaches, they do this to amass vast amounts of money with which to fund their election campaigns.

“These elections usually see them work their way into lofty political positions that would further enhance their ability to further milk the nation, often with little or no accountability’’.

He said these politicians go into the political office with little or nothing to their names but they come out with huge assets and monstrous amounts of money stashed away.

“When the work their way into office, they plunder the treasury and divert money meant for constituency projects and other development projects into their personal accounts.

“This has to stop if Nigeria must make progress,’’ he advised.

He reiterated that all political office holders should also be investigated, whether they are coming back for second tenure or not to learn the sources of their current assets and incomes.

“This is especially necessary when they are found to have inexplicably amassed unusually huge amounts of funds and assets which could not possibly have accrued from gainful, legitimate endeavours.

“So anyone who retires from public service and almost right away jumps unto into partisan politics, deserves forensic examination.

“Although the Code of Conduct was put in place to checkmate the tendency for public office holders to loot the public treasury while in office, sadly, that doesn’t seem to have been effective enough’’.

He added that all heads of MDAs that are retired, or have been relieved of their jobs should also be investigated whether they are contesting or not.

“Corruption remains one of the greatest obstacles to Nigeria’s development. It calls for stronger accountability measures to ensure that public resources are not wasted or diverted into a few private pockets.

“Nigerians deserve leaders who live modestly; account for every naira spent, and put the nation’s welfare above personal gain’’.

He advised Nigerians to play their part by holding leaders accountable and participating actively in civic life.

“We are now getting ready for the 2027 general elections. Anti-Graft agencies and INEC have enough time to investigate all the above mentioned interest groups, to curb corruption during and after elections.

“I humbly urge President Bola Ahmed Tinubu to apply the provision of section 315 of 1999 of the constitution (as amended) to reflect all my above legal opinion.

“This will save Nigeria from electing bad and corrupt leaders into political offices come 2027.

“I equally advise our president to create an enabling platform that will prevent retired public office holders from being able to use looted funds to contest elections,’’ he concluded.

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