The Chief Executive Officer of Oak Homes Limited, a property firm, Olukayode Olusanya, has denied ever receiving a letter from the Economic and Financial Crimes Commission (EFCC), dated September 13, 2023, inviting him to collect a bank draft of N102m from the commission.
Olusanya, while being cross-examined by the EFCC counsel, Mr. E.S. Okondu, before Justice Akingbola George of the Lagos State High Court sitting at Tafawa Balewa Square, said he did not receive any such letter .
Olusanya and his company, Oak Homes Limited, are the claimants in the suit marked LD/4471LM/2023, filed against a Nigerian-American engineer, Mr. Anthony Ugbebor, (first defendant), and the EFCC (second defendant), over an alleged dispute regarding the ownership of a property worth N152m.
He told the court, “I did not receive any letter or call from the EFCC asking me to come and collect the bank draft.”
Under cross-examination, he admitted making a statement at the EFCC but claimed it was not voluntary.
“I only went to the EFCC with a payment plan because that was the condition they gave me for my release after I was detained for three days, but there was a demand on me to make a refund, that was the condition for my release,” he said.
He also confirmed attending a meeting on August 28, 2023, with the EFCC and other parties involved in the dispute. According to him, the EFCC had acknowledged during the meeting that the matter was civil and advised both parties to settle out of court.
When asked whether he brought a bank draft of N102m to the EFCC, Olusanya responded in the affirmative.
“I did bring a draft of N102m to the EFCC’s office, but that money is no longer mine to take,” he said.
The EFCC’s counsel, Okondu, stated that pursuant to the August 28, 2023 meeting, the commission wrote a letter dated September 13, 2023, asking Olusanya to collect the draft. But the witness maintained he never received it.
When shown the letter in court, Olusanya said, “I am not aware of any such letter. I did not receive it.”
He also confirmed that the bank draft was still with the EFCC.
Following the cross-examination, Justice George adjourned the matter to October 20, 2025, for continuation of trial and for the defence to open its case.
Meanwhile, in a related criminal case before Justice Musa Kakaki of the Federal High Court, Lagos, on Tuesday, the second prosecution witness, Mr. Shehu Yakubu, a stockbroker, testified about financial transactions involving Olusanya and Oak Homes Limited.
Yakubu said he first met Olusanya in 2017 through his friend, Anthony Ugbebor, an engineer, the nominal complainant.
“Ugbebor brought Olusanya to my office and introduced him as the CEO of Oak Homes,” Yakubu told the court. “He said Olusanya offered him two flats at Musa Yar’Adua, Victoria Island, Lagos.”
Led in evidence by a Chief Superintendent of Police, Monday Omo-Osagie, Yakubu said he made payments on behalf of Ugbebor to Oak Homes.
“The first payment of N85m was made on November 21, 2017, to a Zenith Bank account on Bourdillon belonging to Oak Homes. A second payment of N49.5m was made on August 4, 2020, to the same Oak Homes account,” he said.
According to him, the receipts for both payments were acknowledged and emailed to him by Ugbebor. Yakubu said he made a statement to the police along with a letter from his office detailing the transactions.
The court admitted the statement and the letter as Exhibits 2 and 3, respectively, following no objection from the defence counsel, Adeleke Agboola (SAN).
However, when the prosecution sought to tender photocopies of the payment receipts, Agboola objected, citing non-compliance with Section 84 of the Evidence Act.
“This is a criminal trial, and everything must be done strictly in accordance with the law,” Agboola said. “No foundation was laid, and no certificate accompanying the documents was filed. We urge the court to reject them.”
In response, the prosecution argued that the foundation had been laid and that the documents were relevant.
But in a short ruling, Justice Kakaki dismissed the document sought to be tendered.
He ruled: “I find that the document sought to be tendered did not meet the compliance of Section 84 of the Evidence Act, and is therefore not admitted.”
Under cross-examination by Agboola, the witness confirmed that the payments were made from his company’s account and that Oak Homes.
During further cross-examination by Oak Homes’ counsel, Mr. Jude Ehiadu, Yakubu said he did not play any other role in the transaction beyond making the payments.
“I didn’t play any other role after the payment and I don’t know what happened after the disbursement,” he said.
Justice Kakaki then adjourned the criminal trial to July 9, 2025, for continuation of the hearing.
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