Operatives of the Zone 2 Police Command in Lagos have arrested a 44-year-old estate manager, Ayodele Solanke, over allegations that he defrauded several organisations of a total sum of N99 million through fraudulent real estate deals.
The arrest followed a series of petitions from affected companies, who accused Solanke of collecting large amounts of money under the guise of helping them secure office and residential spaces, only to divert the funds for personal use.
Police investigations revealed that the suspect first collected N25 million from Moore Bishop and Brooks Abvisor with a promise to secure an office space for the firm, a promise he allegedly failed to fulfill.
He was later accused of defrauding six other organisations; Mortgage Banking Association of Nigeria, MBAN, Chapters, Heights Finance Limited, Silvercuum Cooperative Society, Push Africa, Mutual Specialist Investment Co., and Orisun Biotech Limited, of N63 million using similar methods.
Instead of remitting the funds to Unicorn Group, the company that reportedly engaged him for the property deals, Solanke allegedly diverted the money for personal gain.
When efforts by the victims to recover their funds proved futile, the case was reported to the Assistant Inspector-General of Police in charge of Zone 2, AIG Olatunji Fayoade. He subsequently deployed a tactical team to track down the suspect, who was eventually arrested at a hideout in Lagos.
Following a detailed investigation led by ASP Francis Achua, Solanke was arraigned before the Igbosere Magistrate’s Court sitting at Tinubu, Lagos Island, on a three-count charge bordering on obtaining money by false pretence and stealing.
The prosecuting counsel, ASP Jimoh Joseph, told the court that the offences took place in June 2025 at 362 Herbert Macaulay Way, Yaba, and violated relevant provisions of the Lagos State Criminal Law.
Solanke pleaded not guilty to the charges. Magistrate A.O. Alogba granted him bail in the sum of N2 million with two sureties in like sum and ordered his remand at the Ikoyi Correctional Centre pending the fulfilment of his bail conditions. The case was adjourned for further hearing.
