Prince Adelaja Adeoye, Managing Director of Fendini Homes, developers of Rayfield Gardens City Estate, has been cleared of forgery and document falsification allegations following a Nigerian Police investigation, as confirmed by a report from the State Criminal Investigation Department (CID) in Oyo State.
Barr. Adedamola M. Adeniyi, Fendini Homes’ Legal Adviser, shared the police report with journalists, revealing how Adeoye invited friends to collaborate on a project, only to be betrayed by false accusations aimed at tarnishing his reputation. The accusers, Sheriffdeen Jimoh and Olanrewaju Ogundare of Privus Crest Ltd., allegedly orchestrated a smear campaign after failing to seize control of a project partnered with the Oyo State Government.
The investigation, concluded on August 11, 2025, following a 2022 petition, found no evidence of forgery or falsification by Adeoye. The report clarified that the Oyo State Government has no dealings with Privus Crest Ltd., only with Fendini Limited, dismissing the accusers’ claims. The allegations led to Adeoye’s illegal arrest on June 14, 2025, instigated by Jimoh and Ogundare, who falsely accused him of fraudulent activities, which turned out to be untrue.
Adeoye presented verifiable documents to the Inspector General of Police (IGP) Monitoring Unit in Abuja, debunking the claims. The accusers, unable to substantiate their allegations during a face-to-face panel at the Force Headquarters, were found to have acted in bad faith, according to the State CID report submitted to the IGP Monitoring Unit.
In response, Adeoye has filed a N20 million lawsuit against Jimoh and Ogundare at the Oyo State Federal High Court, citing harassment, embarrassment, unlawful arrest, and forced interstate transportation. He has also urged security agencies to investigate the accusers’ vendetta against his reputation and business.
This development underscores the misuse of false allegations to target business leaders, with Adeoye’s legal actions signaling a firm stand against such tactics.
