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Court Jails Man 20 Years for ₦31m Property Fraud in Lagos

Gbenro Adesina by Gbenro Adesina
August 25, 2025
in Judiciary
Reading Time: 2 mins read
0
Lagos Court Jails Mortgage Banker 20years for Property Fraud

Sulaiman Olayiwola Gbajabiamila

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Justice I. O. Ijelu of the Lagos State High Court sitting in Ikeja, on Monday, sentenced Sulaiman Olayiwola Gbajabiamila to 20 years imprisonment for defrauding a property seeker of ₦31 million.

Gbajabiamila was first arraigned on September 19, 2023, by the Lagos Zonal Directorate of the Economic and Financial Crimes Commission (EFCC), on a seven-count charge bordering on stealing, obtaining money under false pretences, forgery, use of false documents, and retention of proceeds of crime.

The charges followed a petition by one Lateef Ayo Adeyemo, who alleged that Gbajabiamila had fraudulently obtained ₦31 million from him under the guise of securing a two-bedroom apartment at Lagos Homes, Iponri.

One of the charges reads: “That you, Sulaimon Olayiwola Gbajabiamila, sometimes in 2021 in Lagos, within the jurisdiction of this Honourable Court, with dishonest intent, stole and converted to your own use the sum of ₦31,000,000.00, property of Lateef Ayo Adeyemo.”

Another count accused him of forging a Sterling Bank manager’s cheque of ₦10 million in favour of STB Building Society Limited.

Although he initially pleaded not guilty, the EFCC, represented by counsel Abdulhamid L. Tukur, presented two witnesses and tendered several documents that were admitted in evidence against him during trial.

After the prosecution closed its case, the defence counsel, T. E. Gbado, pleaded with the court to temper justice with mercy, describing his client as remorseful and a first-time offender.

In his judgment, Justice Ijelu found Gbajabiamila guilty on all counts. He was sentenced to five years imprisonment on count one (stealing), with an option of ₦1 million fine; seven years on count two (obtaining by false pretences); two years each on counts three, four, and five (forgery), with an option of ₦1 million fine on each count; two years on count six (using false documents), with an option of ₦200,000 fine; and four years on count seven (retention of proceeds of crime), with an option of ₦500,000 fine.

The total jail term amounts to 20 years.

Investigations showed that Gbajabiamila was introduced to Adeyemo by an estate agent, identified as Lukman, and collected ₦31 million from him for a flat. However, he failed to deliver the property and instead diverted the funds for personal use.

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Tags: Economic and Financial Crimes Commission (EFCC)Justice I. O. IjeluProperty FraudSulaiman Olayiwola Gbajabiamila
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