EFCC arrests MD over alleged N128m land fraud

Etim Ekpimah

The Economic and Financial Crimes Commission has arrested Basil Iwoba Ochili, managing director of Debasilio Construction and Estate Development Limited, over an alleged N128m land fraud in Enugu.

Ochili was arrested by operatives of the EFCC’s Enugu Zonal Directorate following a petition alleging that he fraudulently sold five plots of land near the Anambra State Secretariat, beside Stamford Hotel, Aroma Junction, Awka, Anambra State.

According to the petitioner, Ochili allegedly presented himself as the owner of the five plots and offered them for sale in September 2022.

Relying on the representation, the petitioner paid N128m into the suspect’s company account for the land. However, the petitioner was reportedly unable to take possession of the property.

Preliminary investigations by the EFCC indicated that Ochili knew the land encroached on property belonging to the Anambra State Government but allegedly proceeded with the sale.

When asked to refund the money, the suspect allegedly issued the petitioner two dishonoured cheques instead.

Further investigations revealed that Ochili allegedly used part of the proceeds to settle personal debts. The EFCC also said his company had allegedly failed to comply with its tax obligations.

The Head of Media and Publicity of the EFCC, Dele Oyewale, disclosed the arrest in a statement issued on Wednesday.

Oyewale said Ochili would be charged in court after the conclusion of investigations.