Popular Lagos socialite and nightlife financier, Olaseni Olayinka, widely known in elite circles as Abu Abel, has landed in serious legal trouble. This is due to an alleged N477 million land fraud that’s unraveling like a blockbuster legal thriller.
The big-money scandal involves a 2023 transaction between Abu Abel and Doyin Investment Group of Companies, who claim they paid N447 million for three prime plots on Augustina Orji Street, within the disputed Ojomu Chieftaincy Family land in Oke-Arin Village, Eti-Osa, Lagos.
According to a petition filed by the company, the land, Plots 1, 4 and 10 measuring 1,800 square metres, was sold with all the bells and whistles. Documents signed, a deed of assignment completed, and payments made. But there was one massive red flag, the land was allegedly already encumbered.
Despite this, Abu Abel reportedly went ahead with the sale. Police sources say he even admitted to being aware of the existing issues on the land. In an effort to make peace, he refunded N230 million, but then defaulted on the remaining N217 million.
The case has now escalated. On January 11, 2024, Abu Abel signed a written undertaking to pay the balance and even pledged a Lekki property as collateral. But months passed, and no payment came. Instead, the police say Abel went underground, dodging all attempts to be picked up. He was allegedly holed up in a private residence on Victoria Island, while investigators quietly closed in.
After weeks of tracking, officers of the Force Criminal Investigation Department (FCID) at Alagbon finally apprehended him.
In an apparent move to buy time, Abu Abel filed a fundamental human rights suit, trying to halt his arrest and derail the ongoing investigation. But the FCID team reportedly had enough evidence on their side. Reports claim they had payment receipts, communication records, and signed documents connecting him to the controversial deal.
To make matters worse, the police added that Abu Abel is also under investigation for possible connections to a cult group with suspected involvement in land grabbing, fraud, and intimidation in both Lagos and Ogun states.
If convicted, he could face multiple charges ranging from obtaining money under false pretence to criminal breach of trust and conspiracy to defraud.
The complainant, Doyin Investment Group, has now appealed directly to Inspector General of Police, Kayode Egbetokun, urging him to ensure the recovery of their money and that justice is served.
This isn’t the first time Abu Abel’s name has been linked to land disputes. In early 2024, he publicly accused certain government officials of attempting to take over his land in Silicon Estate, Eti-Osa. This case has also had its fair share of back-and-forth, court orders, and social media drama.