Bizman, Olaseni Johnson Olayinka ‘Abu Abel’, arrested for alleged ₦447m scam

Olaseni Johnson Olayinka, a.k.a Abu Abel, a Nigerian businessman has been arrested by operatives of the Force Criminal Investigations Department (FCID), Alagbon, over alleged ₦447 million land fraud.

Nigerian Tribune reports that the socialite, who had reportedly gone into hiding for several weeks, was apprehended at a residence in Victoria Island, where he was allegedly evading arrest and obstructing police investigations.

The arrest stemmed from a petition by Doyin Investment Group of Companies, which accused the Olaseni Johnson Olayinka of fraudulently selling three plots of land located at Augustina Orji Street, within the Ojomu Chieftaincy Family land, Oke-Arin Village, Mayegun, Eti-Osa LGA, Lagos.

In the petition submitted through its legal representatives, the company alleged that in 2023, Abu Abel misrepresented himself as the legitimate owner of Plots 1, 4, and 10—measuring approximately 1,800.311 square metres—and persuaded the company to pay ₦447 million for the land. A Deed of Assignment was reportedly executed between both parties.

However, the company later discovered the land was already encumbered and under third-party claim. When confronted, the suspect admitted knowledge of the encumbrance and pledged to refund the payment.

He was said to have refunded ₦230 million in installments but allegedly defaulted on the remaining ₦217 million. The company also claimed that after partial repayment, he became evasive and began threatening its officials.

On January 11, 2024, the suspect reportedly signed a written undertaking, promising to repay the outstanding balance or forfeit his property at Block C, Plot 22, Oba Amusa Adebambo Avenue, Lekki. Despite this, he allegedly failed to make good on the agreement and instead filed a fundamental human rights enforcement suit—described by police as a strategy to stall justice.

During the arrest, police reportedly recovered crucial documents, including receipts, the Deed of Assignment, written undertakings, and correspondence between the suspect and the complainant.

Abu Abel is expected to be arraigned soon on multiple charges, including obtaining money under false pretence, criminal breach of trust, and conspiracy to defraud, all in violation of the Advance Fee Fraud and Other Related Offences Act, 2006, and the Criminal Code Act.

Efforts to reach the FCID Annex spokesperson, Ameenat Maiyegun, were unsuccessful as calls to her mobile phone went unanswered at the time of this report.