Lagos Court Orders Prosecution to Present Witnesses in N152 Million Property Fraud Trial

Oak Homes CEO, Olukayode Olusanya, faces trial over alleged real estate scam

A Federal High Court in Lagos, presided over by Justice Musa Kakaki, has instructed the prosecution to ensure the appearance of all its witnesses at the next hearing in the N152 million property fraud case involving Oak Homes Limited and its CEO, Olukayode Olusanya.

The court adjourned the matter to April 20, 2026, following arguments on the prosecution’s application to conduct virtual hearings. Olusanya was personally present in court.

Legal Arguments Over Virtual Hearing

Prosecution counsel, CSP Monday Omo-Osagie, stated that the application for virtual proceedings was filed on November 4, 2025, and served on the defendants on the same day, in compliance with a previous court order.

Defence lawyers, Benson Nwosu and Jude Ehiedu, opposed the application, claiming they had not received proper service and urged the court to compel the prosecution to close its case for alleged lack of diligence. They, however, expressed readiness for a physical hearing.

Justice Kakaki noted the absence of proof of service in the court file but declined the defence’s request to halt the prosecution, emphasizing that all witnesses must be present and ready to testify on the adjourned date.

Background of the Case

Olusanya and Oak Homes Limited are being prosecuted by the Nigeria Police Force on a four-count charge including conspiracy, obtaining money by false pretence, fraud, and stealing.

The defendants were arraigned on November 26, 2024, and pleaded not guilty. The prosecution alleges that between November 8, 2017, and August 4, 2020, Olusanya and the company’s former Head of Sales and Marketing, Lynda Umeh (currently at large), defrauded a Nigerian-American engineer, Anthony Ugbebor, of N152 million.

The fraud was allegedly committed under the pretext of selling two three-bedroom apartments at Oak Residence, Victoria Island, Lagos, which were promised to be delivered by February 28, 2019, a deadline that was not met.