Security
Alleged N10bn Property Fraud: Witness Reveals Pressure Tactics in N238.6m EFCC Case
By Joseph Sunday
The trial of Queen Oluchi Duruibe over an alleged N10 billion property investment fraud continued on Thursday before Justice Y. Halilu of the FCT High Court, Apo, Abuja.
Duruibe is standing trial on a four-count charge filed by the Economic and Financial Crimes Commission (EFCC) bordering on investment fraud and obtaining money under false pretence to the tune of N238.6 million.
At the resumed hearing, prosecution witness and victim, Promise Egwim, told the court how he was defrauded of N238.6 million in a property deal.
Testifying under cross-examination by defence counsel, O.R. Odisa, Egwim said the money was part of a 10 per cent commission he agreed to pay the defendant for facilitating a proposed N10 billion investment in his company, Profilled World Homes.
He told the court that Duruibe claimed a N3 billion investment was already available and pressured him to release the funds, warning that failure to do so would stall the deal.
“The total sum of N238,600,000 that I gave her was part of the 10 per cent of N10 billion investment she promised to bring for my company.
“She even said that there was already a N3 billion investment on the ground that day and that if I didn’t release the money, she would not be able to bring the deal. I did not want to approve the cheque, but she pressured me to speak with my account officer to approve it.
“She even promised that she would supply bags of cement worth the amount if she was unable to deliver, which she did not. The money belongs to my company, Profilled World Homes,” Egwim said.
The defendant was arraigned on April 30, 2026, after a petitioner alleged that she presented herself as a real estate investment facilitator capable of sourcing investors for Profilled World Homes.
According to the petition, based on her representation, the petitioner issued two Zenith Bank cheques of N97 million and N141 million respectively, in addition to cash payments and bank transfers, amounting to N238.6 million.
The EFCC said the defendant neither delivered the promised N10 billion investment nor refunded the money collected.
Justice Halilu adjourned the case till November 25, 2026, for continuation of trial