The Port Harcourt Zonal Directorate of the Economic and Financial Crimes Commission (EFCC) has arraigned two brothers, Cypril Nwalaezi and Smart Chinedu Nwalaezi, before the Federal High Court in Port Harcourt over an alleged N3.2 million land fraud.
The defendants were arraigned on Thursday before Justice S. D. Pam on an amended five-count charge bordering on conspiracy and obtaining money under false pretence.
According to a statement by the EFCC on Friday, the brothers allegedly defrauded a buyer by falsely claiming they had valid ownership of parcels of land located along Umuasukpo Farm Road in Igbo-Etche, Etche Local Government Area of Rivers State.
The anti-graft agency alleged that on October 17, 2022, Cypril Nwalaezi deceived Mr. Franklin Nwachukwu into purchasing two parcels of land measuring 1,150.805 and 1,295.771 square metres for N2.75 million, despite allegedly lacking valid title to the properties.
In a separate count, Smart Chinedu Nwalaezi was accused of using the same false representation to obtain N450,000 from the same complainant on November 3, 2022, for another parcel of land measuring 467.912 square metres.
The offences are said to contravene the provisions of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006.
The defendants pleaded not guilty to all charges.
Following their plea, prosecution counsel, C. Okorie, urged the court to fix a date for trial and remand the defendants in the custody of the Nigerian Correctional Service.
Counsel to the first defendant, R. O. Agbabo, informed the court that a bail application had already been filed and appealed for her client to be granted bail to enable him prepare for trial. Counsel to the second defendant, M. M. Nweke, also sought liberal bail conditions for his client.
Justice Pam granted Cypril Nwalaezi bail in the sum of N500,000 with one surety in like sum. The surety must own landed property and reside in Port Harcourt.
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The court also granted Smart Chinedu Nwalaezi bail in the sum of N50,000 with one surety in like sum.
However, the judge ordered that both defendants be remanded at the Port Harcourt Correctional Centre pending the fulfilment of their bail conditions.
The case was adjourned until September 17, 2026, for the commencement of trial.
According to the EFCC, the case stemmed from a petition filed by the complainant in June 2024 after he allegedly discovered in December 2023 that the same properties he had purchased had been resold by the defendants to other buyers.
Investigations by the commission reportedly revealed that the brothers conspired to resell the properties for a total of N3.2 million, leading to the charges against them.