Police operatives from the Force Criminal Investigation Department (FCID), Alagbon, have arrested Olaseni Johnson Olayinka, popularly known as Abu Abel, a well-known Lagos socialite, over alleged involvement in a ₦447 million land fraud.
The arrest occurred at a Victoria Island residence where Abu Abel was reportedly hiding. This operation was directed by the Assistant Inspector General in charge of FCID, Mrs. Margaret Ochalla, following a formal petition from Doyin Investment Group of Companies.
According to the petition, Abu Abel fraudulently sold three plots of land in Eti-Osa Local Government Area, Lagos—plots numbered 1, 4, and 10 at Augustina Orji Street, Ojomu Chieftaincy Family Land, Oke-Arin Village. The company paid the sum of ₦447 million in 2023 after executing a Deed of Assignment, only to discover that the land was encumbered and subject to third-party claims.
Abu Abel reportedly admitted awareness of the issue and promised to refund the money. He has refunded ₦230 million in installments but defaulted on ₦217 million. After becoming evasive and allegedly issuing threats to company officials, he signed a written undertaking on January 11, 2024, to repay the remaining sum using his Lekki property as collateral. However, he failed to honor this agreement.
The suspect also filed a fundamental human rights enforcement suit, viewed by police as a tactic to delay justice. Recovered evidence includes payment receipts, deed documents, undertakings, and correspondences related to the case.
Sources indicate Abu Abel is under further investigation for alleged associations with secret cult groups involved in fraud, land grabbing, and intimidation in Lagos and Ogun states.
He is expected to face charges including obtaining money under false pretence, criminal breach of trust, and conspiracy to defraud, contravening the Advance Fee Fraud and Other Related Offences Act, 2006, and the Criminal Code Act.
Doyin Investment Group has called on the Inspector-General of Police, Kayode Egbetokun, to ensure thorough prosecution and recovery of the outstanding funds.
This arrest highlights ongoing challenges with land fraud and criminal activities linked to influential social figures in Lagos.
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