Oak Homes N152m fraud trial adjourned

The Federal High Court in Lagos adjourned the trial of property developer Olukayode Olubiyi and his company Oak Homes Ltd over an alleged N152 million property fraud. Justice Musa Kakaki fixed October 27-28, 2026, to rule on the admissibility of four offer letters that the prosecution claims show attempts to resell disputed properties. The nominal complainant, Anthony Ugbebor, testified that he paid N152 million for two flats in a retirement home project that was never delivered. He alleged that Olusanya fraudulently attempted to resell the properties at higher prices. The defense objected to the admissibility of the offer letters, arguing they were hearsay and made during pending proceedings. The court will rule on the objection and continue trial on the adjourned dates.