N64m: EFCC arraigns businessman over scam in Anambra

From Sola Ojo, Abuja

The Economic and Financial Crimes Commission (EFCC) has arraigned a 29-year-old businessman, Chizoba Emmanuel Dilo, before Justice S. N. Odili of the Enugu State High Court, Onitsha, Anambra State, over an alleged N64 million fraud linked to a failed overseas business deal.

Dilo was docked on a two-count charge bordering on stealing, contrary to the Criminal Code Law of Anambra State.

According to the charge, the defendant allegedly converted a total of N64 million belonging to Chinedu Obaino to personal use under the pretext of sourcing textile materials from China.

The prosecution told the court that the complainant, a trader at Onitsha Main Market, entrusted the funds to the defendant in tranches in 2021 based on claims of having reliable suppliers abroad.

However, instead of executing the deal, Dilo allegedly diverted the funds to acquire cars and build a hotel. The defendant pleaded not guilty to the charges. Prosecuting counsel, ACE II Rotimi Ajobiewe, urged the court to fix a trial date and remand the defendant, noting that he had previously jumped administrative bail granted by the Commission.

Defence counsel J. C. Odo, however, prayed the court to grant his client bail.

Justice Odili granted the defendant bail in the sum of N10 million with two sureties resident in Onitsha, who must provide proof of means, with their addresses to be verified by the court.

The defendant was remanded in a correctional facility pending the fulfilment of the bail conditions.

The case was adjourned to May 26, 2026, for trial.