EFCC ARRAIGNS MAN OVER ALLEGED N13.6M PROPERTY FRAUD IN OYO

The Economic and Financial Crimes Commission has arraigned a man before a court in Oyo State over allegations of property fraud involving ₦13.6 million.

The defendant was brought before the court by the EFCC to answer charges relating to the alleged fraudulent transaction.

According to the anti-graft agency, the case arose from a property-related transaction in which the defendant was accused of obtaining money under circumstances the prosecution described as fraudulent.

The EFCC told the court that the alleged offence involved the sum of ₦13.6 million and was connected to a transaction involving real estate.

The defendant pleaded not guilty to the charges when they were read to him.

Following the plea, the prosecution requested that the court proceed with the case in accordance with the law.

The court subsequently considered the defendant’s bail application and adjourned the matter to a later date for further proceedings.

The EFCC said it would continue to prosecute cases involving alleged financial crimes and fraudulent property transactions.

Property-related disputes and alleged fraud remain a concern in Nigeria’s real estate sector, where buyers and investors are sometimes exposed to false documentation, multiple sales of the same property and other forms of alleged misconduct.

Legal practitioners have advised prospective property buyers to conduct proper verification before making payments and to confirm ownership documents through relevant government authorities.

The case will continue as the court considers evidence from the prosecution and the defence.

The defendant remains presumed innocent unless and until proven guilty by a court of competent jurisdiction.