The Economic and Financial Crimes Commission has arraigned two brothers, Cypril Nwalaezi and Smart Nwalaezi, before the Federal High Court in Port Harcourt over an alleged N3.2 million land fraud.
The defendants were docked before Justice S. D. Pam by the Port Harcourt Zonal Directorate of the anti-graft agency on an amended five-count charge bordering on conspiracy and obtaining money by false pretences.
According to the EFCC, Cypril allegedly deceived a buyer, Franklin Nwachukwu, into believing he had a valid title to parcels of land located along Umuasukpo Farm Road in Igbo-Etche, Etche Local Government Area of Rivers State.
The commission alleged that the first defendant fraudulently obtained N2.75 million from the complainant after offering the land for sale.
Smart was also accused of allegedly misrepresenting ownership of another parcel of land in the same area and collecting N450,000 from the same buyer under false pretences.
The offences are said to contravene the provisions of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006.
Both defendants pleaded not guilty to the 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 pending the determination of the case.
Counsel to the first defendant, R. O. Agbabo, and counsel to the second defendant, M. M. Nweke, however, informed the court that separate bail applications had been filed and appealed for their clients to be granted bail to enable them prepare for trial.
Justice Pam admitted Cypril to bail in the sum of N500,000 with one surety in like sum. The surety must own landed property and reside in Port Harcourt.
The court also granted Smart bail in the sum of N50,000 with one surety in like amount but ordered that he be remanded at the Port Harcourt Correctional Centre until he fulfils the bail conditions.
The judge subsequently adjourned the case until September 17, 2026, for the commencement of trial.
The EFCC disclosed that the case stemmed from a petition filed by the complainant in June 2024 after he discovered in December 2023 that the land he had purchased from the defendants had allegedly been resold to other buyers.
According to the commission, investigations revealed that the brothers conspired to resell the properties, allegedly defrauding the complainant of N3.2 million.