Court Orders Prosecution to Produce Witnesses in N152m Property Fraud Trial Against Olusanya
The Federal High Court in Lagos, presided over by Justice Musa Kakaki, has directed the police prosecution to ensure all witnesses are present at the next hearing in the ongoing N152 million property fraud case involving property developer Olukayode Olusanya and Nigerian‑American engineer Anthony Ugbebor.
The matter, which has spanned several years, was adjourned to April 20, 2026, with the court stressing its commitment to proceed expeditiously and deliver justice. Olusanya, the first defendant and Chief Executive Officer of Oak Homes Limited, was present in court during Monday’s proceedings.
At the resumed hearing, prosecuting counsel CSP Monday Omo‑Osagie informed the court that the trial was fixed for continuation and that the prosecution had complied with an earlier directive by filing a motion seeking leave for virtual proceedings.
Defence counsel, Benson Nwosu and Jude Ehiedu, objected, arguing they had not been served with the application and urged the court to compel the prosecution to close its case for lack of diligent prosecution.
In response, Omo‑Osagie maintained that the application was duly filed and served on November 4, 2025, at the first defendant’s office, received by one Gabriel Aaron.
Justice Kakaki, in his ruling, noted that there was no proof of service on the court’s file but declined the defence’s request to close the prosecution’s case. Instead, he ordered the prosecution to ensure all witnesses are present and ready to testify at the next adjourned date.
Olusanya and Oak Homes Limited are standing trial on four counts of conspiracy, obtaining money by false pretences, fraud, and stealing, arising from allegations that they defrauded Ugbebor of N152 million in connection with the purported sale of two apartments at Oak Residence, Victoria Island, Lagos. The defendants have pleaded not guilty.
