Police Probe $250,000 Loan, Lekki Property Dispute as Key Parties Ignore Summons

Wale Igbintade

The failure of key parties to honour police invitations has become a central issue in an ongoing investigation into a disputed $250,000 loan claim and competing interests over a prime Lekki property in Lagos.

Police sources confirmed that despite formal invitations issued as part of the investigation, Ms. Memunat Ajoke Olubando and a former senator, Domingo Obende, have yet to present themselves for questioning several months after the matter was formally reported to law enforcement authorities.

The investigation followed a petition submitted by businessman and industrialist, Chief Razaq Okoya, to the Inspector-General of Police and the Lagos State Commissioner of Police.

The petition was filed on behalf of Chief Okoya, his wife, Chief (Mrs.) Shade Okoya, and their company, RAO Investment Property Company Limited.

At the centre of the dispute is a claim by Senator Obende that he advanced a $250,000 loan, allegedly secured with a high-value Lekki property linked to Chief Okoya.

The petitioners have, however, categorically denied the existence of any such loan arrangement or collateral agreement.

Sources close to Chief Okoya insist that he has no record of any personal or business dealings with Senator Obende and that neither he nor any of his companies obtained a loan from the former lawmaker.

They also dispute claims that any property belonging to Chief Okoya or his company was used as security for a loan.

According to the petition, concerns were raised over documents submitted to the Lagos State Lands Registry in connection with the disputed property.

The petition requested the police to examine the circumstances surrounding the handling of the property’s Certificate of Occupancy and to determine whether due process was followed.

The matter was initially reported to the Lagos State Commissioner of Police through a petition authored by the late legal practitioner, Hon. (Chief) Bankole Oki.

Follow-up petitions were subsequently submitted in October 2025, calling for a comprehensive investigation into the loan claim and related property documentation.

Police sources said the scope of the investigation also extends to complaints involving individuals and companies connected to the property, as outlined in the petitions.

However, no findings have been made public, and no charges have been filed against any party at this stage.

Legal practitioners monitoring the case note that failure to honour police invitations does not, in itself, amount to a determination of liability but may slow investigations into issues relating to property title, contractual claims, and documentation.

As the investigation continues, all parties remain entitled to the presumption of innocence.

Police authorities are expected to conclude their inquiries and determine the appropriate next steps based on their findings.