N787.5M Lagos Lagoon ‘Fraud’: Court Fixes Friday for Ruling on Emeka Okoronkwo’s Bail Application

Ladipo Sanusi/

Friday, November 24, has been fixed for ruling on the bail application of Kings Court Realtors’ boss, Emeka Okoronkwo, who is being detained over alleged N787.5million land fraud in Lagos.

Okoronkwo has filed his bail application before Magistrate Abimbola Komolafe of Igbosere Chief Magistrate’s Court in Lagos.

Okoronkwo is being detained on the orders of the Inspector-General of Police (IGP) Ibrahim Idris, after detectives allegedly found that a US-based Nigerian businessman, Kennedy Chukwuemeka Nwabuoku, was led to the Lagos lagoon when he asked to see 150 plots of land that he had paid over half a billion naira for.

NewsmakersNG learnt that the Force Criminal Investigations and Intelligence Department (FCIID) had filed a criminal charge at the magistrate’s court against Okoronkwo and another suspect, Michael Owolabi Alonge who is on the run, but the matter is yet to be assigned to any judge.

Nwabuoku allegedly paid N577, 590, 792 in installments among other charges, plus another N18million for bush clearing in February, after which the land agents allegedly sent him pictures and videos of caterpillars in action at a purported site at Ifedele Agunbiade Village, Sangotedo, in Eti-Osa area of Lagos.

Okoronkwo who had admitted receiving payments from Nwabuoku is claiming that the client is at fault since he allegedly paid N603, 000, 000 for 100 plots and failed to pay the balance for 50 plots.

The land was offered for sale at N5, 250, 000 per plot.

Police prosecutor, Sgt Morufu Animashaun, was in court yesterday, but the Okoronkwo’s lawyers were not seen.