The Enugu Zonal Directorate of 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 sitting in Onitsha, Anambra State, over an alleged N64 million fraud.
Dilo was docked on a two-count charge bordering on stealing, contrary to the provisions of the Criminal Code Law of Anambra State. He, however, pleaded not guilty to the charges.
According to the EFCC, the defendant allegedly committed the offences in 2021 by fraudulently converting funds entrusted to him by a trader, Chinedu Obaino, for personal use.
In the first count, Dilo is accused of converting N34,013,000, while the second count involves N29,987,000, bringing the total sum to N64 million.
Prosecuting counsel, Assistant Commander of the EFCC (ACE II) Rotimi Ajobiewe, urged the court to fix a trial date and remand the defendant in a correctional facility.
However, defence counsel, J. C. Odo, informed the court of a pending bail application and sought its consideration.
The prosecution opposed the bail request, arguing that the defendant had previously jumped administrative bail granted by the Commission.
After hearing both parties, Justice Odili granted the defendant bail in the sum of N10 million with two sureties resident in Onitsha. The sureties are required to depose to affidavits of means, while their addresses must be verified by the court’s bailiff.
Pending the perfection of the bail conditions, the defendant was remanded in a correctional facility. The case was adjourned to May 26, 2026, for trial.
The EFCC said the case originated from a petition filed on July 21, 2025, by Obaino, a fashion and textile materials dealer at Onitsha’s Main Market. The petitioner alleged that he entrusted the defendant with funds to procure goods from China, based on claims of having reliable business contacts abroad.
Investigations revealed that instead of executing the transaction, the defendant allegedly diverted the funds to acquire luxury items, including cars, and to build a hotel.
Efforts to recover the money reportedly failed after the defendant relocated from his known address and changed his contact details.
