Two estate agents, 49-year-old Adeola Ojo and 48-year-old Abiodun Akinlabi, were brought before the Iyaganku Magistrates’ Court,on June 18 facing allegations of defrauding multiple property seekers of ₦7.6 million. The charges filed by the police include conspiracy, obtaining money under false pretences, and stealing.
According to Inspector Olagoke Adegbenro, the offences occurred in February 2025, centered around the Iwo Road district in Ibadan. It is alleged that the duo collected ₦5.95 million from one Oluwaseun Lawal under the promise of securing a house. They are also said to have defrauded Mrs Victoria Omotayo of ₦700,000 for a two-bedroom flat and collected ₦980,000 from Sanusi Adeniyi, along with further sums from other would-be tenants all under false assurances.
Inspector Adegbenro told the court that none of these promised accommodations materialized, with investigators concluding that the accused instead diverted the funds for personal use. As a result, the charges brought against them fall under Sections 516 (conspiracy), 419 (fraud), and 390(9) (stealing) of the Oyo State Criminal Laws, 2000.
The defendants entered pleas of ‘not guilty’ to all counts. In response, Magistrate Mrs Olasinmibo Sanusi-Zubair granted bail to each, set at ₦1 million and requiring two sureties each of equivalent sum.
Hearing in the case has been scheduled for July 29, when further testimony and evidence presentation are expected.
