EFCC Arraigns Brothers for Allegedly Selling Same Rivers Land to Multiple Buyers

● Cypril and Smart Nwalaezi face five-count charge over N3.2m property fraud in Etche

Two brothers are facing trial after the EFCC accused them of pocketing N3.2 million by allegedly selling the same parcels of land in Rivers State to multiple buyers.

Cypril Nwalaezi and Smart Chinedu Nwalaezi were arraigned on Thursday before Justice S. D. Pam of the Federal High  Court, Port Harcourt on an amended five-count charge of conspiracy and obtaining money by false pretence.

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–‘“We have valid title”—

According to the EFCC, the brothers convinced buyer Franklin Nwachukwu that they owned land along Umuasukpo Farm Road in Igbo-Etche, Etche LGA.

The commission alleged that Cypril, on 17 October 2022, collected N2.75 million from Mr Nwachukwu for two parcels measuring 1,150.805 and 1,295.771 square metres.

About two weeks later, on 3 November 2022, Smart allegedly received another N450,000 from the same buyer for a third parcel measuring 467.912 square metres at the same location, making the same ownership claims.

The EFCC said the offences contravene the Advance Fee Fraud and Other Fraud Related Offences Act, 2006.

*—“Properties resold to other buyers”—

The case stemmed from a petition Mr Nwachukwu filed in June 2024 after he allegedly discovered that the lands he paid for in 2022 had been resold to other buyers.

Following investigations, the commission charged the brothers to court.

Both defendants pleaded not guilty.

Prosecution counsel C. Okorie asked the court to remand them pending trial. Defence counsel R. O. Agbabo for Cypril and M. M. Nweke for Smart prayed for bail to enable them prepare.

—Bail granted—

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.

Smart was granted bail in the sum of N50,000 with one surety in like sum.

The judge however ordered that both men be remanded at the Port Harcourt Correctional Centre pending the fulfilment of their bail conditions.

The matter was adjourned to 17 September for commencement of trial.

The arraignment is part of a wider EFCC crackdown on alleged real estate fraud.