Witness Tells Court How He Allegedly Lost ₦238.6m in Real Estate Investment Deal
A prosecution witness has told the Federal Capital Territory (FCT) High Court in Apo, Abuja, how he allegedly lost ₦238.6 million to Queen Oluchi Duruibe in a disputed real estate investment deal.
The testimony was given on Thursday, October 15, 2026, during the continuation of Duruibe’s trial before Justice Y. Halilu. The defendant is being prosecuted by the Economic and Financial Crimes Commission (EFCC) on a four-count charge bordering on alleged investment fraud and obtaining money under false pretences.
The witness, Promise Egwim, who testified as Prosecution Witness One (PW1), made the disclosure while being cross-examined by defence counsel, O.R. Odisa.
Egwim told the court that the money represented part of a 10 per cent commission he allegedly agreed to pay Duruibe in connection with a proposed ₦10 billion investment in his real estate company, Profilled World Homes.
According to him, Duruibe had claimed that ₦3 billion was already available for investment and allegedly pressured him to approve the payments to facilitate the deal.
“She even said that there was already a ₦3 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,” Egwim told the court.
He further testified that he initially hesitated to approve the cheque but was persuaded to contact his account officer to facilitate the transaction.
The witness also alleged that Duruibe promised to supply bags of cement worth the amount if she failed to deliver the investment, but did not fulfil the promise. He maintained that the ₦238.6 million belonged to his company, Profilled World Homes.
Duruibe was arraigned 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.
According to the allegations presented in the case, Egwim issued two Zenith Bank cheques valued at ₦97 million and ₦41 million, respectively, alongside additional cash payments and bank transfers, bringing the total amount to ₦238.6 million.
The prosecution alleges that the promised ₦10 billion investment was not delivered and that the defendant has failed to refund the money. The allegations remain before the court.
Justice Halilu adjourned the case until November 25, 2026, for continuation of trial.
Witness Tells Court How He Allegedly Lost ₦238.6m in Real Estate Investment Deal