Abuja, Nigeria — The Performing Musicians Employers’ Association of Nigeria (PMAN), the lawful title holder to Plot 504, Cadastral Zone B00, Kukwaba, Federal Capital Territory, has welcomed the Investigation Report issued by the Inspector-General of Police (IGP) Monitoring Unit on activities linked to Olusco Heritage & Investment Ltd and its Managing Director, Mr. Olufemi Olumeyan.
The Report, released after months of inquiry, established a prima facie case of obtaining money by false pretences, cheating, threat to life, violence, assault, causing harm, and conduct likely to cause a breach of peace in relation to unauthorised dealings on the property. PMAN described the investigation as thorough and professional, noting that the findings confirm its long-standing concerns about irregular activities around Plot 504.
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PMAN had in April 2023 entered into a Joint Venture Agreement (JVA) with Olusco, which was subject to a condition precedent requiring full payment of a premium before the agreement could take effect. According to PMAN, Olusco failed to meet this requirement, rendering the JVA legally unenforceable. Despite this, the association said it discovered that Olusco was offering plots and units to the public without authorisation.
The situation escalated after Olusco allegedly requested that foreign investment funds intended for the project be paid into a personal account, a move PMAN rejected. Further investigations revealed a separate development agreement between Olusco and G & D Building & Engineering Ltd, under which Olusco reportedly collected ₦350 million in addition to site investments. When relations broke down, Olusco allegedly denied responsibility and, according to petitions received by the Police, mobilised thugs to intimidate workers and disrupt operations.
The Police Report also cited the roles of former PMAN officials, including Mr. Boniface Itodo and musician Mr. Zakky Azzay, who were accused of misrepresenting themselves as PMAN executives after being dismissed by the association’s National Executive Council. Their involvement, the report suggested, contributed to confusion and alleged fraudulent activity.
On December 7, 2024, PMAN formally terminated its arrangement with Olusco, citing unfulfilled obligations and public risks. The association has since strengthened security on the site in collaboration with law enforcement. During one such operation, police dispersed an unauthorised gathering, during which one individual sustained a minor knee injury while fleeing. PMAN clarified that contrary to online reports, no one was shot and police acted professionally.
Pretty Okafor, PMAN’s National President, expressed gratitude to the Nigeria Police Force for what he described as a “thorough and professional investigation.” He said the association’s focus is now on protecting the public and restoring confidence around Plot 504. “We urge anyone who paid money to unauthorised parties to come forward for verification. The Investigation Report is a crucial step toward accountability. We are aligning with the IGP Monitoring Unit and EFCC to ensure victims are identified, assets traced, and justice delivered,” he said.
PMAN reiterated that no sale, pledge, or allocation on Plot 504 is valid without its written consent and urged members of the public who transacted with Olusco or its affiliates to lodge formal complaints with the IGP Monitoring Unit. The association also emphasised that all persons named in the investigation remain innocent until proven guilty by a competent court.
The Police Investigation Report is available to relevant authorities and accredited media upon request, while sensitive evidence will be reserved for review by investigative agencies and the courts.
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