against controversial property developer and politician, Mr. Olajide
Awosedo at the Lagos State Special Offences Court, Bolade, Oshodi, Lagos
State. According to the charge sheet dated February 16,2018 (find
attached the charge sheet), Mr. Olajide Awosedo fraudulently sold several
landed properties belonging to the Asset Management Corporation of Nigeria
(AMCON) to 26 unsuspecting buyers in contravention of section 8 (1) (b) of
the Lagos State Properties Protection Law, 2016 popularly known as the
Land Grabbers’ Law.
If convicted, Mr. Olajide Awosedo could spend up to 21 years in jail. Mr.
Awosedo has been variously described as a serial debtor indebted, according to reports, to nothing less than nine banks in the sum of N22 billion. Most of Mr. Awosedo’s housing projects have failed due to his inability to repay his debt to lenders. It is also common knowledge that almost all of Mr. Awosedo’s projects and personal properties have
been seized and taken over by AMCON and banks that lent him money.
Mr. Awosedo’s propensity for fraudulent, criminal and shady dealings is
well known. He is said to have swindled unsuspecting purchasers of landed
property of millions of Naira to whom he made false promises to sell land
he did not own or to build houses he had neither intention nor means to
build. Awosedo is also known to have forged several documents to perfect
his fraudulent and criminal acts. It is also widely known that Mr. Awosedo
who hails from Ijebu-Ode used monies borrowed from banks for housing
projects to play in politics. He is said to have lavished humongous sums
of borrowed monies in his unsuccessful bid for Governor of Ogun State in
2011.
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