Popular Lagos socialite and businessman Olaseni Olayinka, better known as Abu Abel, has been arrested by operatives of the Force Criminal Investigation Department (FCID), Alagbon, over his alleged involvement in a N477 million land fraud.
According to sources, the arrest follows a petition filed by Doyin Investment Group of Companies, which accused the socialite of fraudulently selling three plots of land located on Augustina Orji Street within the Ojomu Chieftaincy Family land, Oke-Arin Village, Eti-Osa, Lagos.
Deal Gone Wrong: Land Allegedly Already Encumbered
The company reportedly paid N447 million in 2023 for Plots 1, 4, and 10, which measure approximately 1,800 square metres, with a deed of assignment signed between the parties.
However, the buyers later discovered that the land was already encumbered, raising questions about the legitimacy of the transaction.
Police investigations revealed that Abu Abel allegedly admitted to being aware of the encumbrance and refunded N230 million, but failed to pay the remaining N217 million.
“He signed a written undertaking on January 11, 2024, promising to pay the outstanding balance and even pledged a Lekki property as collateral, but defaulted,” a police source stated.
Arrest After Weeks in Hiding
The suspect reportedly evaded arrest for several weeks by hiding in Victoria Island, prompting a surveillance operation by FCID tactical operatives. He was eventually apprehended following weeks of intelligence gathering.
In a statement, police said:
“The suspect filed a fundamental human rights enforcement suit to stall arrest and obstruct ongoing investigation.”
Evidence recovered from him includes receipts, the deed of assignment, and documented communications between both parties.
Links to Cultism and Land Grabbing Alleged
Abu Abel is also under investigation for alleged ties to a cult group suspected of involvement in land grabbing, fraud, and criminal intimidation in Lagos and Ogun States, police confirmed.
He is expected to be arraigned soon on multiple charges, including:
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Obtaining money under false pretence
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Criminal breach of trust
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Conspiracy to defraud
Complainants Demand Justice
The petitioners, Doyin Investment Group, have appealed to Inspector General of Police, Kayode Egbetokun, to ensure that justice is served and the remaining N217 million is recovered.
Past Land Disputes
This is not the first time Abu Abel has been entangled in land-related controversies. In early 2024, he alleged that some powerful individuals were trying to forcefully take over his property in Silicon Estate, Eti-Osa, despite a court order halting development on the site.
