Reports circulating on social media and online platforms have sparked confusion over the alleged arrest of Adelaja Adeoye, the Chief Executive Officer of Fendini Homes Limited.
Various posts claimed the real estate merchant had been apprehended by authorities, leading to widespread speculation.
However, individuals close to Adeoye have swiftly debunked the claims, describing them as false and the handiwork of mischief makers intent on tarnishing his reputation.
“This is nothing but a calculated attempt to smear his name,” a source close to Adeoye said. “There was no arrest. The rumors are completely false and clearly the work of mischief makers. Adeoye is a man of integrity who has conducted his real estate business with a high level of professionalism, transparency, and accountability over the years.” the source who pleaded for anonymity added.
According to a report by First Weekly Magazine, the dispute centers on the ownership of Rayfield Garden City, an estate located within Alao Akala Housing Estate, Ibadan, Oyo State.
Popular social media activist, Zara Onyinye on Monday June 17, 2025 also made a post on the development on her Facebook page.
The online platform reported that a statement by Dotun Akinfenwa, Convener of the Citizens Rights Group said Prince Adeoye was apprehended on June 14, 2025, in connection with the allegations.
Akinfenwa was said to have noted that the documents in question allegedly pertain to ownership rights originally granted to Messrs. Privus Crest Limited—approved by the Oyo State Government through the Oyo State Public Private Partnership Agency (OYSIPA).
The group further revealed that the forgery allegations were formally brought to the attention of the Inspector General of Police in a petition dated May 9, 2025.
Meanwhile, a forum, Justice Mandate Group, has called on the Oyo State Government to initiate a thorough investigation into the allegations
Femi Adelaja, National Convener of the forum, made the demand in a statement on Monday.
Adelaja, who was silent on the company associated with the alleged document forgery, recalled that in 2019, the real beneficiary company, Privus Crest Limited, through a legitimate Public-Private Partnership (PPP) with the Oyo State Government, secured approval for an innovative housing initiative aimed at addressing the state’s housing deficit.
He, however, revealed that in a disturbing turn of events, a trusted associate of Privus Crest “forged official documents to transfer the project’s approval to another company.”
“What makes this situation particularly troubling is the apparent failure of due diligence by officials at the Oyo State Public Private Partnership Agency (OYSIPA), who reportedly accepted the forged documents without proper verification. This raises critical questions about accountability and oversight in government-backed business approvals.
“For four years, the rightful owners of the project have sought justice through multiple channels, including petitions to law enforcement agencies and attempts at mediation. Yet, despite these efforts, the matter remains unresolved, leaving a cloud of uncertainty over the integrity of business dealings in the state.”
The Justice Mandate Group appealed to “the Oyo State Government, under the leadership of His Excellency Governor Seyi Makinde, to take immediate action by: Conducting a thorough and transparent investigation into how forged documents were accepted by OYSIPA.
“Ensuring that any officials found complicit in this matter face appropriate sanctions.
“Restoring the original approval to Privus Crest Limited or providing fair compensation for the hijacked project.”
The statement further called on the anti-graft agency, which it has petitioned, to take more than a passing interest in the case.
“This case is not just about one business dispute—it speaks to the broader challenges facing Nigeria’s entrepreneurial ecosystem. When fraudulent practices go unchecked, they discourage innovation, stifle investment, and erode public trust in governance.
“We call on relevant anti-corruption agencies, including the Economic and Financial Crimes Commission (EFCC), to examine this matter closely. Oyo State has an opportunity to demonstrate its commitment to justice, transparency, and the protection of legitimate businesses.
“The Justice Mandate Group remains hopeful that the authorities will act swiftly to ensure that the right thing is done. Nigeria’s economic progress depends on a system that rewards hard work and punishes fraud—not one that allows deception to thrive.”
Efforts by THE WITNESS to reach Prince Adelaja Adeoye for comments were unsuccessful as of press time.
Also, the company is yet to issue an official statement over the matter.
