A Federal High Court sitting in Port Harcourt has remanded two brothers, Cypril and Smart Nwalaezi, after they pleaded not guilty to charges of allegedly defrauding a buyer of ₦3.2 million through a fraudulent sale of land.
The duo were arraigned by the Economic and Financial Crimes Commission (EFCC) on an amended five-count charge bordering on conspiracy and obtaining money by false pretence after which the court ordered their remand at the Port Harcourt Correctional Centre pending the fulfilment of their respective bail conditions.
The prosecution alleged that the defendants fraudulently obtained ₦3.2 million from one Franklin Nwachukwu by falsely representing that they had valid and subsisting titles to parcels of land located along Umuasukpo Farm Road, Igbo-Etche, in Etche Local Government Area of Rivers State.
Investigators further alleged that after selling the properties to the complainant, the siblings resold the same plots to other buyers.
According to the EFCC, the case originated from a petition submitted by Nwachukwu in June 2024 after he discovered in that the properties he had purchased had been sold again. Subsequent investigations allegedly established that the defendants conspired to dispose of the same properties to multiple buyers for a total of ₦3.2 million.
One of the charges alleged that Cypril Nwalaezi, on October 17, 2022, induced the complainant to purchase two parcels of land measuring 1,150.805 and 1,295.771 square metres by falsely claiming to possess valid ownership, thereby obtaining ₦2.75 million under false pretences.
Another charge accused Smart Chinedu Nwalaezi of similarly deceiving the complainant on November 3, 2022, by claiming ownership of a 467.912-square-metre parcel of land at the same location and obtaining ₦450,000 from him. The EFCC said the alleged offences contravene Sections 1(1)(b) and (c) of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006, and are punishable under Section 1(3) of the Act.
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, informed the court that a bail application had already been filed on behalf of her client and urged the court to grant bail to enable him prepare for trial. Counsel to the second defendant, M. M. Nweke, made a similar application, praying the court to admit his client to bail on liberal terms.
In his ruling, Justice Pam admitted Cypril Nwalaezi to bail in the sum of ₦500,000 with one surety in like sum. The judge ordered that the surety must own landed property and reside in Port Harcourt. Smart Chinedu Nwalaezi was granted bail in the sum of ₦50,000 with one surety in like sum.
Despite granting bail, the court directed that both defendants remain at the Port Harcourt Correctional Centre until they meet their bail conditions. Justice Pam subsequently adjourned the case until September 17, 2026, for the commencement of trial.