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The Economic and Financial Crimes Commission, EFCC, Enugu Zonal Directorate, has arraigned a 29-year-old businessman, Chizoba Emmanuel Dilo, before Justice S. N. Odili of the Enugu State High Court sitting in Onitsha, Anambra State, over an alleged N64 million fraud.
According to the EFCC, Dilo was docked on a two-count charge bordering on stealing, contrary to Section 342 of the Criminal Code Law Cap. 36 of Anambra State and punishable under Section 353 (9) of the same law.
The Commission alleged that the defendant fraudulently converted large sums of money belonging to one Chinedu Obaino to his personal use.
Count one of the charge reads:“That you, Chizoba Emmanuel Dilo, sometime in 2021 in Onitsha, Anambra State within the jurisdiction of Anambra State High Court of Nigeria, committed a felony to wit: stealing by fraudulently converting to your personal use, the sum of N34, 013, 000. 00 (Thirty-four million, Thirteen Thousand Naira only), property of Chinedu Obaino and thereby committed an offence”.
Count two of the charge reads: “That you, Chizoba Emmanuel Dilo, sometime in 2021 in Onitsha, Anambra State within the jurisdiction of Anambra State High Court of Nigeria, committed a felony to wit: stealing by fraudulently converting to your personal use, the sum of N29, 987, 000. 00 (Twenty-Nine million, Nine Hundred and Eighty-Seven Thousand Naira only), property of Chinedu Obaino and thereby committed an offence”.
The defendant pleaded not guilty when the charges were read to him.
Following his plea, counsel to the EFCC, Assistant Commander of the EFCC, ACE II Rotimi Ajobiewe, prayed the court for a trial date and for the defendant to be remanded in a correctional facility.
Defence counsel, J. C. Odo, informed the court of a bail application filed on behalf of the defendant and urged its consideration.
The prosecution opposed the request, stating: “The defendant had previously jumped administrative bail granted him by the Commission.”
After hearing both parties, Justice Odili granted the defendant bail in the sum of N10 million, with two sureties who must reside in Onitsha and depose to an affidavit of means. The court also ordered that the addresses of the sureties be verified by the court bailiff.
The defendant was remanded in a correctional facility pending the perfection of his bail conditions. The case was adjourned to May 26, 2026, for trial.
The matter stemmed from a petition dated July 21, 2025, filed by Chinedu Obaino, a fashion and textile dealer at the Main Market, Onitsha.
Obaino alleged that he gave the defendant money in installments to purchase goods from China, based on claims of having a reliable supplier.
However, the defendant allegedly failed to carry out the transaction and instead used the funds to acquire cars and build a hotel.
Efforts to recover the money were unsuccessful, as the defendant reportedly left his known address and changed his phone number.
EFCC arraigns businessman over alleged N64m fraud in Anambra
