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Billionaire industrialist Razaq Okoya and his wife, Shade Okoya, have dismissed reports linking them and their company, RAO Investment Property Company Ltd, to alleged misconduct regarding a property in Lagos.
Naija News understands that there have been reports making the rounds on social media that the Okoyas and their company were involved in a property dispute.
However, in a statement released on Tuesday, the couple described the reports as fictitious and misleading, saying they were designed to cause confusion about an open case and damage their reputation.
The statement reads, “Recently, there have been fictitious stories circulating in the media about Chief Razaq Okoya CON and Chief (Mrs.) Shade Okoya MON, and their company, RAO Investment Property Company Ltd. These reports are entirely untrue and malicious fabrications, clearly designed to create confusion regarding an open case, intimidate and damage the reputation of the Okoyas.
“The truth is that these are two completely separate issues which have been twisted together to create a sensational and misleading story for dubious and fraudulent reasons.”
The Okoyas explained that the property in question, a 16-unit three-bedroom block owned by Mr Okoya through RAO Investment Property Company Ltd, was rented to Green Birch Tech Ltd for a three-year term that expired on June 7, 2024.
The tenants, represented by Lawrence Onwukwem and Isaiah Ijele, sublet the property to 16 sub-tenants.
After the lease expired and the parties failed to agree on new terms, Green Birch filed a suit at the Lagos High Court (Eti-Osa) under Suit No: ETD/11530/GCMW/2024.
The court, in a counterclaim judgement delivered on February 18, ordered Green Birch to vacate the property and pay outstanding rent.
The Okoyas said Green Birch appealed the judgement and filed an application for stay of execution but had not pursued the case further.
They also addressed a separate matter involving Dajo Oil Ltd, which they said had no connection to the tenancy dispute.
According to the statement, Dajo Oil first sued Okoya and his company in Suit No: LD/1361/2007, which was struck out on July 15, 2008.
Thirteen years later, the company filed a new case (Suit No: LD/5226GCM/2021), alleging that Razaq Okoya borrowed $250,000, a claim the Okoyas said was false.
They stated that they had never met or had any dealings with Dajo Oil or its owner, Senator Domingo Obende.
The Okoyas alleged that Obende and his company claimed to possess the original Certificate of Occupancy for the same property through the involvement of Okoya’s former wife, Memunat Olubando, who allegedly conspired with Obende after leaving her marriage in 1999.
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