Razaq And Shade Okoya Break Silence, Expose ‘Malicious Lies’ Behind Property Scandal

Billionaire industrialist, Chief Razaq Okoya, and his wife, Chief (Mrs.) Shade Okoya, have firmly denied reports linking them and their company, RAO Investment Property Company Ltd, to allegations of misconduct involving a property in Lagos.

According to Ireporter Online, the couple issued a statement on Tuesday describing the circulating stories as fabricated and malicious attempts to mislead the public, distort an ongoing legal matter, and tarnish their reputation.

The statement emphasized that the rumours were “entirely untrue and malicious fabrications” crafted to create confusion around two unrelated issues. The Okoyas maintained that both matters were separate but had been deliberately merged to produce a sensational and misleading narrative for “dubious and fraudulent reasons.”

Clarifying the facts, the couple explained that the property in question — a 16-unit, three-bedroom block owned by Chief Okoya through RAO Investment Property Company Ltd — was leased to Green Birch Tech Ltd for three years, a term which expired on June 7, 2024. Green Birch, represented by Lawrence Onwukwem and Isaiah Ijele, allegedly sublet the building to 16 sub-tenants.

When negotiations for a lease renewal failed, Green Birch instituted a case before the Lagos High Court (Eti-Osa Division) under Suit No: ETD/11530/GCMW/2024. In a judgment delivered on February 18, the court ruled in favour of Okoya, ordering Green Birch to vacate the property and pay all outstanding rent.

The Okoyas revealed that the tenants later filed an appeal and a motion for a stay of execution but have since taken no further action.

They also addressed a separate case involving Dajo Oil Ltd, stressing that it had no link whatsoever to the tenancy dispute. The couple noted that Dajo Oil had first taken them to court in 2007 under Suit No: LD/1361/2007, which was dismissed on July 15, 2008. Thirteen years later, the company filed another suit (Suit No: LD/5226GCM/2021), alleging that Chief Okoya borrowed $250,000 — a claim the Okoyas strongly refuted as entirely baseless.

According to the couple, they have never had any business or personal dealings with Dajo Oil Ltd or its owner, Senator Domingo Obende. They further alleged that Obende and his firm falsely claimed ownership of the original Certificate of Occupancy for the disputed property, allegedly in collaboration with Okoya’s former wife, Memunat Olubando, who purportedly conspired with Obende after leaving her marriage in 1999.

The Okoyas reaffirmed their commitment to pursuing justice through lawful means, insisting that the false reports were orchestrated to damage their integrity and mislead the public.