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, Rivers State, over an alleged ₦3.2 million land fraud.
The defendants were brought before Justice S. D. Pam on a five-count amended charge bordering on conspiracy and obtaining money by false pretence.
According to the EFCC, the brothers allegedly sold parcels of land located in Igbo-Etche, Rivers State, to a buyer in 2022 while claiming they had valid ownership of the properties. The anti-graft agency further alleged that investigations revealed the same plots of land had subsequently been resold to other buyers, leading to the fraud charges against them.
When the charges were read in court, both Cypril Nwalaezi and Smart Chinedu Nwalaezi pleaded not guilty to all counts.
Following their pleas, Justice Pam granted bail to Cypril in the sum of ₦500,000 with a surety, while Smart was granted bail in the sum of ₦50,000 with a surety. However, the court ordered that both defendants be remanded at the Port Harcourt Correctional Centre until they meet their respective bail conditions.
The case was adjourned until September 17, 2026, when the court is expected to commence trial.
