Socialite Olaseni Olayinka, better known as Abu Abel, has been arrested by operatives of the Force Criminal Investigation Department (FCID), Alagbon, over an alleged N477 million land fraud.
The arrest followed a petition by Doyin Investment Group of Companies, which accused the socialite of fraudulently selling three plots of land located on Augustina Orji Street within Ojomu Chieftaincy Family land, Oke-Arin Village in the Eti-Osa area of Lagos.
According to the petition, the company paid N447 million in 2023 for Plots 1, 4 and 10, measuring about 1,800 square metres. A deed of assignment was also signed. However, the buyers later discovered the land was already encumbered.
Police sources said Abu Abel admitted being aware of the land’s encumbrance and refunded N230 million, but allegedly defaulted on the balance of N217 million.
He reportedly signed a written undertaking on January 11, 2024, promising to repay the balance and pledged a property in Lekki as collateral, but allegedly failed to fulfil the agreement.
Attempts by the police to arrest him were initially unsuccessful as he reportedly went into hiding at a residence on Victoria Island. He was eventually arrested after weeks of surveillance and intelligence gathering by the FCID tactical team.
In a statement, the police said: “The suspect filed a fundamental rights enforcement suit against the police to avoid arrest and frustrate the ongoing investigation.”
Investigators added that receipts of payment, the deed of assignment and evidence of communication between both parties were recovered from the suspect.
Abu Abel is also said to be under investigation for alleged links to a cult group involved in land grabbing, fraud and criminal intimidation in Lagos and Ogun states.
He is expected to be arraigned soon on charges including obtaining money under false pretence, criminal breach of trust, and conspiracy to defraud.
The complainant has appealed to the inspector general of police Kayode Egbetokun to ensure that justice is served and the outstanding money recovered.
Abu Abel has previously made headlines over land-related controversies. In early 2024, he claimed some powerful individuals were trying to forcefully take over his property in Silicon Estate, Eti-Osa.
He accused government officials of ignoring a court order to stop work on the disputed land.
