The Federal High Court in Lagos witnessed dramatic developments in the ongoing trial of Olukayode Olusanya, the Chief Executive Officer of Oak Homes Limited, who is being accused of defrauding a Nigerian-American engineer of N152 million in a disputed property deal.
The trial, presided over by Justice Musa Kakaki, revolves around allegations that Olusanya and a yet-to-be-apprehended associate, Lynda Umeh, Oak Homes’ Head of Sales and Marketing, conspired to fraudulently obtain payment for two luxury apartments that were never delivered.
Testifying as the first prosecution witness, Assistant Superintendent of Police (ASP) Egho Amiebelomo detailed the findings of his investigation, which began after a petition was submitted to the Nigerian Police Force on December 27, 2023, by the complainant, Anthony Ugbebor.
According to Amiebelomo, Ugbebor paid N152 million between November 2017 and August 2020 for two three-bedroom apartments in the Oak Residence development, located in Victoria Island, Lagos.
The properties were reportedly promised for delivery by February 28, 2019, but have yet to be handed over.
“The complainant submitted a signed petition, and during our investigation, we interviewed three other witnesses — Mrs Kofo Coker, Mr Seye, and Mr Shuiabu — all of whom corroborated the payment claims and provided key documents, including receipts and an offer letter signed by Mr Olusanya,” Amiebelomo told the court.
Documents were tendered during the hearing, with the court admitting Ugbebor’s petition as Exhibit A.
However, the judge rejected Olusanya’s alleged confessional statement, citing procedural violations in its acquisition, particularly non-compliance with Section 17(2) of the Administration of Criminal Justice Act.
Under cross-examination by defence counsel, Adeleke Agboola (SAN), ASP Amiebelomo acknowledged that he was unaware of a prior investigation by the Economic and Financial Crimes Commission (EFCC) into the same matter.
He also confirmed he had no knowledge that Olusanya had reportedly refunded N110 million via bank draft to the EFCC.
Furthermore, Amiebelomo admitted he did not know about a related civil suit — Suit No. LD447LMW/2023 — filed at the Lagos State High Court, which resulted in an injunction against both Ugbebor and the EFCC.
He stated that the police had not been served with any such court order.
When pressed on whether the matter should be treated as a civil dispute rather than a criminal case, the prosecution pushed back.
Lead prosecutor, M.A. Omo-Osagie cited Section 135 of the Evidence Act, insisting that criminal liability can arise from civil transactions, especially when fraud is involved.
Another defence lawyer, Mr Jude, challenged the integrity of the police investigation, suggesting it was incomplete.
But Amiebelomo maintained the investigation was thorough, noting his personal visit to the property site revealed that construction was still ongoing and that no units had been delivered.
The witness also said Olusanya blamed inflation and rising construction costs for his failure to deliver the apartments, but notably did not cite the COVID-19 pandemic or any government actions, such as sealing of the property, as reasons for the delay.
Olusanya and Oak Homes were arraigned on November 26, 2024, and both pleaded not guilty to four counts of conspiracy, fraud, obtaining money under false pretences, and stealing.
Justice Kakaki adjourned the case until July 8, 2025, for continuation of the trial.
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