ABUJA — Real estate mogul Augustine “Onwa” Oguejiofor was taken into police custody on Monday, marking a dramatic turn in a ₦650 million fraud allegation that had remained stalled for over three years. The arrest comes just four days after social media activist VeryDarkMan (VDM) released a viral video detailing the case, which involves a disputed land transaction in the Federal Capital Territory.
The swift intervention by the Nigeria Police Force has sent shockwaves through the business community, as many had previously considered the billionaire “untouchable” despite multiple petitions sent to the EFCC and police authorities since 2023.
The ₦650 Million Land Dispute
The case centers on allegations brought by developer Ifeanyi Michael Udezu, who claims Oguejiofor defrauded him of ₦650 million in a deal for a prime plot of land in Abuja. According to documents surfaced during the exposé, the land in question is allegedly owned by the Libyan Embassy.
VDM’s investigation suggested that Oguejiofor may have used forged documents to facilitate the sale, claiming he had acquired the title directly from the Libyan government. Despite attempts at mediation by prominent figures like Prince Arthur Eze, the funds were reportedly never recovered, and the victim remained without the land or his money for years.
Failed Settlement and VDM’s Ultimatum
Sources close to the investigation indicate that following his arrest, Oguejiofor’s representatives allegedly offered a partial refund of ₦400 million to settle the matter out of court. However, VDM has publicly rejected the overture on behalf of the victim, insisting on a full ₦650 million refund and formal legal accountability.
“We are not here for partial payments or negotiations,” VDM stated in a follow-up broadcast. “The era of people using their wealth to suppress justice is over. It’s either the full ₦650 million or the law takes its course.”
Police and Legal Response
The arrest has been credited to the renewed anti-fraud drive under Inspector General of Police (IGP) Olatunji Disu. While the police have not yet released a formal charge sheet, the suspect remains in detention for further questioning.
In a statement released via his legal team on March 15, Oguejiofor denied all allegations of fraud and forgery, describing the situation as a “legitimate business transaction that encountered complications.” His lawyers characterized the social media campaign as “malicious and defamatory,” intended to tarnish his reputation.
The case continues to draw massive engagement online, serving as a litmus test for the Nigerian justice system’s ability to handle high-profile financial crimes involving the nation’s elite.
