The engineer, Anthony Ugbebor, testified before Justice Musa Kakaki that he invested N152million —about 80 per cent of the agreed purchase price for two second-floor apartments—after trusting Oak Homes as a reputable real estate developer.
A United States-based Nigerian engineer on Monday told the Federal High Court in Lagos how the Executive Director of Oak Homes Limited, Olukayode Olusanya, collected his life savings to build two luxury apartments but later attempted to resell the same properties to other buyers after their value appreciated significantly.
The engineer, Anthony Ugbebor, testified before Justice Musa Kakaki that he invested N152million —about 80 per cent of the agreed purchase price for two second-floor apartments—after trusting Oak Homes as a reputable real estate developer.
He alleged that despite paying the huge sum, the apartments were never delivered and were instead allegedly put back on the market at prices running into hundreds of millions of naira more than the original contract value.
The court subsequently fixed October 27, 2026, to rule on whether four controversial offer letters allegedly issued by Oak Homes and Olusanya, which prosecutors say show attempts to resell the disputed apartments, can be admitted as evidence in the ongoing criminal trial.
