A Tale of Trust, Betrayal, and Power Struggles: How a Business Partnership Turned into a Nightmare
When Yinka Olumofe met Yusuf Damilare Ibrahim five years ago through a WhatsApp group, he never imagined the connection would change his life—first for good, then for worse. At the time, Damilare was living abroad and looking for someone he could trust back home to help him manage investments in Nigeria. Yinka stepped up, believing he had finally found an opportunity to build something meaningful.
According to Yinka, their journey began with a simple request: manage a failing pig farm. Damilare was facing challenges with livestock and needed someone to rescue the business. Yinka took the job seriously. Over time, Damilare started sending money into Yinka’s account, eventually trusting him enough to oversee major construction projects—mansions, a hotel, and eventually a lounge.
Yinka claims he poured his energy, time, and credibility into building every structure from the ground up. In return, Damilare reportedly promised him ₦10 million as a gesture of appreciation. That promise, Yinka says, was never fulfilled.
Instead, what followed was a downward spiral—allegations of theft, detention, violence, and a bitter fallout that has now turned into a legal and emotional battle between former partners.
Business Turns Personal
Yinka says Damilare eventually asked him to manage the lounge (Aqua Bar & Lounge) and allowed him to run a side business within the premises since he wasn’t paid a salary. He explained how they worked out an informal arrangement: sell Damilare’s drinks first, then sell his own. There were no complaints—until, according to Yinka, Damilare began making romantic advances toward his partner who worked at the lounge. When she refused, everything changed.
Damilare allegedly began threatening Yinka and, eventually, accused him of stealing a single bottle of Hennessy worth ₦120,000. That accusation, Yinka says, led to a string of events that destroyed everything he had built.
Arrest, Detention, and Loss
Yinka was arrested and detained for nine days at Obasanjo Police Station in Onipanu. His lawyer alleges he was held without communication, forced to hand over personal assets, and later compelled to sign an affidavit under duress, surrendering everything to Damilare.
While Yinka was locked up, police reportedly ransacked his home, seized over ₦1 million in cash, and evicted his wife and child. “They took everything,” his lawyer said. “Even the household items. Damilare’s wife now wears Yinka’s wife’s wigs.”
Efforts to file a complaint with Zone 2 Police Command led nowhere. According to Yinka’s legal team, the case officer assigned to investigate had personal ties with the Onipanu DCO, compromising the entire process. Repeated attempts to arrest Damilare were reportedly foiled, as the OC allegedly kept tipping him off.
Alleged Police Brutality and Courtroom Drama
At one point, when Zone 2 officers tried to confront Damilare at his hotel, a violent clash broke out. Videos allegedly show police officers and Yinka being beaten up by men loyal to Damilare. After the altercation, Yinka was arrested again—this time charged with ₦170 million in alleged fraud. In prison, he was severely beaten and lost sight in one eye. He remains incarcerated to this day.
Despite all this, Yinka’s legal team insists that no solid proof of the ₦170 million theft has been presented. They claim the real motive is to strip Yinka of his assets and silence him permanently.
Damilare’s Side of the Story
But Damilare tells a different tale.
He admits he met Yinka through a pig farming group and trusted him with large financial investments. However, Damilare claims Yinka took advantage of that trust, mismanaged a farm, and later diverted funds meant for the lounge.
According to him, Yinka fabricated stories about romantic rejection and retaliation. “That’s a lie,” Damilare said. “He and the bar lady were running a parallel business in my lounge. I caught them canceling sales and diverting funds into a secret account.”
Damilare said he presented evidence to police and that Yinka confessed to stealing over ₦60 million, voluntarily listing properties acquired with the money. “We recorded everything,” he added. “He begged me to let it go.”
When asked about taking over Yinka’s assets and returning them, Damilare claims he handed everything over to police during investigations. He also denied the sexual harassment allegations and said the woman in question was Yinka’s girlfriend and an accomplice in the fraud.
“The case is still in court,” Damilare told SaharaReporters. “They’re just trying to blackmail me through the media.”
Caught Between Allegations and Justice
The truth, as with many cases of collapsed relationships and money disputes, sits somewhere between both sides. What’s clear, however, is that Yinka—a man once trusted with multimillion-naira projects—is now blind in one eye, homeless, and locked up with little chance of justice unless higher authorities intervene.
His lawyer says the only hope left is for the Inspector General of Police to intervene, ensure the matter is transparently prosecuted, and free the case from alleged influence.
“This isn’t just about fraud or stolen drinks,” the lawyer said. “This is a story of power, betrayal, and a man who may lose everything—including his freedom—because he dared to trust.”
