EFCC Probes Arthur Eze Over Alleged ₦15bn Enugu Estate Takeover
The Economic and Financial Crimes Commission (EFCC) has launched an investigation into Nigerian oil magnate, Prince Arthur Eze, over allegations of fraudulent takeover and demolition of a multi-billion naira estate in Enugu State.
The probe followed a petition dated February 5, 2026, and received by the EFCC’s Enugu Zonal Command on February 6, 2026, in which victims accused the billionaire and his agents of orchestrating what they described as an “unlawful invasion and malicious destruction” of properties valued at over ₦1 billion. The disputed land, estimated at ₦15 billion, is located at Ayo Railway Station, Centenary City, Enugu.
According to the petitioners, the property comprises approximately 300 parcelated plots duly surveyed, documented, and registered under the Enugu State Geographic Information Service (ENGIS) with Registration Number 68/68/562. They claim title was derived from a 2019 sub-lease agreement allegedly executed by Eze in his capacity as Chairman of Triax Company Nigeria Limited in favour of the late Hon. Anthony Nvene.
The petition states that the transaction was regularised with a Deed of Sub-Lease and an Irrevocable Power of Attorney, signed “page by page” by Eze and registered with the state authorities.
However, the dispute escalated in October 2025 when the petitioners alleged that one Barrister Chukwudi Oli, acting on Eze’s instructions, stormed the estate with armed police officers and unidentified individuals to demolish perimeter fences, gates, buildings, and construction materials — without a court order or revocation notice from the government.
The estimated value of destroyed assets, they claim, exceeds ₦1 billion.
“We reasonably believe that Prince Arthur Eze, having executed and registered the relevant conveying documents in 2019, cannot lawfully authorise any contrary action without due legal process. The actions complained of raise serious concerns of fraud and abuse of process,” the petition read in part.
In response, Barrister Chukwudi Oli, speaking as counsel to Eze, denied the allegations, describing the petitioners as “land grabbers” and “impostors.”
Oli maintained that the land in question belongs to the Nigerian Railway Corporation (NRC), and disclosed that his client secured a fresh 50-year lease after paying ₦371 million premium in August 2025.
“Railway has a property department. You apply, pay premium, and get an agreement. We paid about ₦371 million in August 2025,” Oli stated.
He argued that an earlier 10-year lease from 2015 had expired without development and questioned the validity of the petitioners’ documents, insisting that proper registration in Enugu requires a valid lease agreement.
Oli further claimed his team acted under a court order and with police protection to clear what he termed illegal structures on the land, pending final lease documentation from the NRC.
Despite the denial, the Nvene Association, representing the alleged victims, insists that the 2019 sub-lease documents bear Eze’s signature and remain validly registered. The group has urged the EFCC to thoroughly investigate all individuals involved, including alleged financiers and collaborators, and determine how a property already registered with state authorities could be subjected to what they described as a violent takeover.
The EFCC is yet to issue an official public statement on the matter, but sources confirm that preliminary investigations are underway.
The unfolding dispute has triggered fresh concerns over land ownership conflicts, documentation integrity, and the use of security personnel in civil property disputes within Enugu State.
