EFCC arrests estate MD over alleged N128m land scam

The Economic and Financial Crimes Commission (EFCC) has arrested Basil Iwoba Ochili, the Managing Director of Debasilio Construction and Estate Development Limited, for an alleged N128 million land scam.

Ochili is accused of obtaining money through false pretenses by claiming ownership of five plots of land near the Anambra State Secretariat in Awka. A petitioner reportedly paid N128,000,000 for the plots in September 2022, but was unable to take possession of the land. Preliminary investigations suggest Ochili was aware the land encroached on government property.

Rather than refunding the victim, Ochili allegedly provided two dud cheques. Investigations also revealed that the suspect used a portion of the funds to settle personal debts and that his company has failed to comply with tax regulations. The EFCC stated that the suspect will face court charges once investigations are complete.