EFCC arrests Construction company MD over alleged N128m land scam in Anambra

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

Ochili was apprehended by operatives of the EFCC’s Enugu Zonal Directorate following a petition detailing a fraudulent land transaction.

According to investigators, the suspect falsely claimed ownership of five plots of land located beside the Anambra State Secretariat near Stamford Hotel at Aroma Junction in Awka, Anambra State, and offered them for sale in September 2022.

Relying on these representations, the petitioner paid the total sum of N128 million into the corporate account of Debasilio Construction and Estate Development Limited. However, the buyer was ultimately unable to take possession of the property.

Preliminary investigations revealed that Ochili was fully aware that the plots encroached upon the Anambra State Government Secretariat land before proceeding with the sale. When the transaction fell through and the buyer demanded a refund, the suspect reportedly issued two dud cheques instead.

Further inquiries by the anti-graft agency uncovered that a portion of the funds had been diverted to settle personal and corporate debts. Additionally, investigators found that the company has failed to maintain tax compliance.

The EFCC stated that the suspect will be arraigned in court as soon as the ongoing investigation is concluded.