Four months after being invited for questioning, Ms. Memunat Ajoke Olubando and former Senator Domingo Obende have not appeared before the police in connection with a reported $250,000 loan dispute and a contested claim over a Lekki property linked to prominent industrialist, Chief Razaq Okoya, CON.
The matter is under investigation following petitions submitted to the Inspector General of Police (IGP) and the Lagos State Commissioner of Police by Chief Okoya, his wife, Chief (Mrs.) Shade Okoya, and their company, RAO Investment Property Company Limited.
According to sources familiar with the case, the dispute involved a claim by Senator Obende that he extended a $250,000 loan to Chief Okoya, with the Lekki Property reportedly pledged as collateral.
Chief Okoya has denied the claim.
Sources indicated that Chief Okoya and Obende do not have a prior business relationship.
The petitions stated that Ms Olubando, a former Deputy Managing Director of Eleganza Ball Pen industries, years after she ceased to be a Director of that company and wife of Chief Okoya, falsified documents and collected from the Lagos State Government the original Certificate of Occupancy of the property in dispute at Lekki, belonging to Rao Investment Property Co Ltd, and handed over same to Senator Obende, who claimed that he lent Chief Okoya the sum of $250,000 and was holding the original Certificate of Occupancy as security for the said loan. This is being reviewed by the police, as part of ongoing investigations into ownership claims.
Senator Obende
The petitioners also alleged that the parties have attempted to assert ownership rights over the lekki property based on the reported loan prompting further legal scrutiny.
Additional complaints in the petitions related to alleged misrepresentation and harassment connected to the property.
The initial petition was filed by the late legal practitioner Hon. (Chief) Bankole Oki, with follow-up petitions submitted in October 2025 urging thorough investigation and, if warranted, prosecution for offences relating to alleged forgery, fraud, and misrepresentation.
Despite formal invitations, Ms. Olubando and Senator Obende have not presented themselves for questioning.
Legal experts noted that failure to respond to police summons in an active investigation may have implications and could be addressed under law.
Investigations are ongoing, with authorities expected to provide clarity on the alleged loan and ownership issues regarding the Lekki property.
