N238.6m Property Fraud: Witness Tells Court How Suspect Allegedly Defrauded Him
A prosecution witness in the trial of Queen Oluchi Duruibe over an alleged N238.6 million property investment fraud has narrated how he was persuaded to release the money based on a promised N10 billion investment in his real estate company.
The witness, Promise Egwim, disclosed this on Thursday, October 15, 2026, during cross-examination at the Federal Capital Territory High Court, Apo, Abuja, presided over by Justice Y. Halilu.
Duruibe is being prosecuted by the Economic and Financial Crimes Commission (EFCC) on a four-count charge bordering on investment fraud and obtaining money under false pretence.
Testifying as Prosecution Witness One (PW1), Egwim told the court that the N238.6 million 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.
According to him, the defendant claimed that N3 billion was already available for investment and pressured him to release the money to secure 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 on that day and that if I didn’t release the money, she would not be able to bring the deal,” Egwim told the court.
He further explained that he was initially reluctant to approve the cheque but eventually contacted his account officer following the defendant’s insistence.
The witness added that Duruibe had promised to supply bags of cement equivalent to the amount if she failed to deliver the investment, but allegedly failed to fulfil that promise.
He maintained that the money belonged to his company, Profilled World Homes.
The EFCC had earlier arraigned Duruibe on April 30, 2026, following a petition alleging that she presented herself as a real estate investment facilitator capable of sourcing investors for the company.
The prosecution alleged that, based on the representation, the petitioner issued two Zenith Bank cheques valued at N97 million and N41 million, alongside additional cash payments and bank transfers, bringing the total to N238.6 million.
However, the commission alleged that the defendant failed to provide the promised N10 billion investment and had not refunded the money received.
Following Thursday’s proceedings, Justice Halilu adjourned the case until November 25, 2026, for continuation of trial.
