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Nigerian Billionaire Arthur Eze Stung By Two Brothers Loses N1.5bn

The Economic and Financial Crimes Commission, EFCC, on Wednesday 23 December, arraigned two brothers, Okwuchukwu Olisaebuka Eze and Nnadozie Onyeka Eze for stealing N1.5billion from billionaire Arthur Eze.


Charged with the two accused were their companies.

While Olisaebuka and Berlus Resources Ltd were docked on a 14-count charge, Onyeka and DYM Integrated Service Limited were slammed with 17 counts.

The EFCC did not state whether Olisaebuka and Onyeka are blood relations of Arthur Eze.

The two men and their companies were docked today before Justice Binta Mohammed of the Federal Capital Territory High Court, Maitama, Abuja on two separate charges.

Olisaebuka, who was an administrative officer with Prince Arthur Eze, is alleged to have stolen and converted to personal use the sum of N804,360,216 and $3,309,359.

Count 3 of his charge reads; “That you Eze Olisaebuka Okwuchukwu, between 26th September, 2017 to 30th October 2020, in Abuja, within the jurisdiction of this Honourable court, while being employed in the capacity of an administrative officer of Prince Arthur Eze, committed theft of an aggregate sum of N319,709,807 in the possession of your employer, Prince Arthur Eze, and thereby committed an offence contrary to section 289 of the Penal Code Cap 532 LFN (ABUJA) 1990 and punishable under the same section”.

The defendants pleaded “not guilty”.


In view of the plea, the prosecution counsel, Samuel Chime, asked the court for a date for commencement of trial.

However, defence counsel, Anthony Okpalah, informed the court that an application for bail has been filed before the court and has also been served on the prosecution.

He, therefore, asked that the court grant the defendants bail on Liberal terms.

The prosecution counsel did not object.

He, however, reminded the court of the huge amount involved in the case and that the court should be judicious in giving the bail terms, stating that the prosecution is only interested in the defendants attending their trial at all times.

Justice Mohammed, after studying the application and the accompanying affidavit, granted Olisaebuka bail in the sum of N10 million.

Olisaebuka will also provide one surety in like sum, who must be a civil servant on Grade Level 14 with copy of last promotion letter submitted.

Also, he must be resident in the Federal Capital Territory (FCT).

The case was adjourned till January 26, 2021, for the commencement of trial.

Also, the case of theft brought against Eze Nnadozie Onyeka and DYM Integrated Services Ltd was adjourned till January 26, 2021, for the commencement of trial, after the court admitted the defendant to bail in the sum of N20 million

Onyeka was also asked to produce two sureties, who must be civil servants of not less than Grade Level 14.

The sureties must work and reside in the Federal Capital Territory and must present a copy of their last promotion letters for verification.

Onyeka and DYM Integrated Resources Ltd pleaded ‘not guilty’ to the charge of stealing N769 million and $845,700.

Count 10 of the charge reads; “That you Eze Onyeka Nnadozie, between 20th January 2013 to 30th November 2020, in Abuja, within the jurisdiction of this Honourable court, while being employed in the capacity of Finance Manager of Prince Arthur Eze, committed theft of an aggregate sum of N370,950,000 in the possession of your employer, and thereby committed an offence contrary to section 289 of the Penal Code Cap 532 LFN (ABUJA) 1990 and punishable under the same section “.


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