N20m fraud rocks Lekki Estate. Residents of Emerald Estate, one of the most upscale estates in Lagos’ Lekki-Ajah axis, are incensed after learning that the management office may have been the victim of fraud that totaled more than N20 million. According to information obtained by DAILY POST, the estate manager Morufu Ganiyu and an administrative official named Raymond Ochoi have been accused of the theft.
The two are accused of transferring estate dues and other earnings from the sale of electricity tokens over time to their personal accounts.
Residents received notice on July 31, 2022, that both men had been fired and that criminal charges had been opened at the Ogombo Police Station.
Following an internal inquiry, it stated, “Please be notified that the Exco is pursuing a criminal case of breach of trust, fraud, theft, and conspiracy to steal and defraud the estate.”
The notice stated that Messrs. Ganiyu and Ochoi were called by the police to investigate the scope of the alleged irregularities and identify any more parties who may have provided support.
“As a result, Mr. Morufu and Mr. Raymond are no longer employed by the estate as of right now.
The warning further stated, “Anyone who transacts any estate-related transaction with them will be doing so at his or her own risk.”
The suspects were held in custody for about a week before being released on bond while the investigation was ongoing.
Residents were shown sums ranging from N15 million to N20 million at subsequent gatherings as what the dismissed policemen were accused of stealing.
The estate, which is governed by residents who pick an executive to handle things, has once more sent out disclaimers to renters and landlords cautioning them against continuing their relationships with the former employees.
Residents who spoke with DAILY POST voiced worry over the absence of internal governance and control that facilitated the misappropriation of communal monies.
“The timing of this revelation is odd; there are two months until elections for a new Exco. I can assure you that a significant portion of us are concerned about this development,” one person stated.
“The reconciliation is still under progress, and the fraud may exceed N20 million. I can’t reveal too much without jeopardizing investigations.
As of the time of publication, it was unable to reach Mr. Ganiyu; he had not yet replied to a text asking him to comment on the accusations.
However, Ochoi verified that the police were in charge of the issue during a phone call on Wednesday.
“At the moment, the case is still with the police and has not yet been heard in court. We are working to find a solution,” he said.
The Mobil Staff Corporation developed Emerald Estate, which was formerly known as Mobil Estate.
The initial inhabitants relocated in 2013. There are now 130 people living there, and up until recently, electricity was available every day.