Lagos socialite Olaseni Johnson Olayinika, popularly known as Abu Abel, has been arrested over his alleged involvement in a ₦447 million land scam, according to the Force Criminal Investigations Department (FCID), Alagbon.
The arrest, executed by operatives led by CSP Taiwo Oyewole under the directive of AIG Margaret Ochalla, came after weeks of surveillance. Abu Abel was apprehended in Victoria Island, Lagos, where he had reportedly gone into hiding to evade arrest.
The arrest stems from a petition by Doyin Investment Group of Companies, who accused Abel of fraudulently selling them three plots of land at Augustina Orji Street, Eti-Osa LGA, claiming he was the rightful owner. The land, however, was later found to be encumbered and subject to third-party claims.
In 2023, Abel allegedly received ₦447 million for the property. A Deed of Assignment was signed, but when the company uncovered the land’s legal complications, he promised to refund the amount. He refunded ₦230 million and defaulted on the remaining ₦217 million.
The company claimed that Abel became evasive and even issued threats. On January 11, 2024, he signed a written undertaking, pledging to repay the remaining funds or forfeit a property in Lekki as collateral. He later filed a fundamental human rights suit, which authorities believe was a diversion tactic.
Following intelligence gathering, the FCID tracked him to a Victoria Island hideout, where he was arrested without resistance. Police also recovered important documents, including receipts, undertakings, and correspondence.
Sources indicate that Abel is also under investigation for alleged links to a secret cult group connected to land grabbing and fraud in Lagos and Ogun States.
He is expected to be charged under the Advance Fee Fraud Act and Criminal Code Act for offences including obtaining money under false pretence, criminal breach of trust, and conspiracy to defraud.
Doyin Investment has appealed to the Inspector-General of Police, urging swift prosecution and full recovery of their outstanding funds.
“This was a calculated fraud,” a company representative said. “We commend the police for tracking him down, and we trust that justice will be served.”
FCID spokesperson Ameenat Maiyegun could not be reached for comment at the time of reporting.
