A major property dispute has broken out in Lekki Phase 1, Lagos, involving billionaire businessman, Chief Razaq Okoya, his wife Chief (Mrs.) Shade Okoya, on one hand; and former Senator Domingo Obende on the other.
The fight is over a block of sixteen three-bedroom flats located at Plot 96, Ladipo Omotosho Cole Street. The property is currently the subject of a court case — Suit No: LD/5226GCM/2021 — between Senator Domingo’s company, Dajo Oil Nigeria Limited, and the Okoyas’ company, RAO Investment Property Company Ltd.
Documents from Oludare Adaramewa & Co., lawyers for Senator Domingo and Dajo Oil, explain how the problem started.
According to the letter, Mrs. Shade Okoya (also known as Mrs. Memunat Ajoke Olubando) collected an advance payment of $250,000 (about ₦400 million) from Senator Domingo’s company on behalf of RAO Investment Property Company Ltd. and Eleganza Ball Pen Industries Ltd.
The payment was meant to be a loan backed by the Lekki property as security. The property’s original Certificate of Occupancy (C of O) was handed over as proof of the agreement.
However, the letter said that despite several meetings and discussions, the Okoyas have not refunded the money or transferred ownership of the property as agreed.
Because of this, Senator Domingo’s company has gone to court, asking the court to take over and sell the property to recover the money owed.
The lawyer also confirmed that the original C of O is still in their possession, meaning Senator Domingo’s company still has a legal claim on the property.
Chief Razaq Okoya is the billionaire founder of the Eleganza Group, one of Nigeria’s oldest manufacturing companies.
This disagreement has now created serious tension — with the Okoya family and Senator Domingo battling over ownership, while innocent tenants suffer the effects of the legal war.
