Operatives of the Force Criminal Investigation Department (FCID), Alagbon, Ikoyi, Lagos, have reportedly arrested Alhaji Buba Muhammad, popularly known as deputy Sariki of Alaba International Market and Special Adviser on Special Duties to the Chairman of Ojo Local Government, Lagos, over an alleged ₦750 million fraud case.

Muhammad was reportedly taken into custody by the FCID operatives in connection with allegations of fraud involving a businessman operating in Alaba International Market, popularly known as Kasco Electric.

According to reports surrounding the case, the suspect allegedly used photocopied documents purportedly relating to shops and properties belonging to another person to facilitate a transaction involving the businessman.

One of the properties allegedly involved in the disputed transaction is the former Union Bank office located at F-line section ( IMDA) within Alaba Internaional Market, Ojo, Lagos.

The circumstances surrounding the alleged transaction and the exact nature of the documents presented are reportedly part of the issues being investigated by the FCID.

The arrest has reportedly generated considerable attention within Alaba International Market and the wider Ojo business community, particularly because of Muhammad’s position as a political appointee in the local government.

However, the allegations remain subject to investigation, and the arrest does not amount to a declaration of guilt. The suspect is entitled to due process and the presumption of innocence unless proven otherwise by a competent court of law.

The FCID is expected to establish the circumstances surrounding the alleged ₦750 million transaction, verify the authenticity and ownership of the disputed property documents, and determine whether any criminal offence was committed.

Further developments are expected as the investigation progresses.