The Economic and Financial Crimes Commission, EFCC, dragged Oceangate Engineering Oil & Gas Ltd before the court regarding the ownership of $13m suspected to be proceeds of fraud and unlawful activities.

Delivering judgment in a suit instituted by Oceangate Engineering Oil & Gas Ltd to claim the funds, Justice Nwite held that the company failed woefully to establish how it came about the money. He, however, stressed that the EFCC succeeded in convincing the court that the funds are proceeds of fraud and should be forfeited to the government.

The judge dismissed the claims that the
$13 million was gifts received into the Oceangate Engineering Company by Aisha Achimugu adding that the said Aisha never showed up in court to show cause why the funds should not be forfeited to the federal government.

Additionally, Justice Nwite said that no single person who gave the monetary gifts to Achimugu to the tune of $13 million was called to testify.

The judge held that the burden to establish genuine ownership of the money was not established by the applicant to counter the claims of the EFCC that the money was a proceeds of fraud based on its investigation.

According to the judge, Oceangate Engineering Company did not show the business it undertook that fetched it the money and did not also show whether any payment was made to it by of its customer.

Justice Nwite had on 22 August 2025, granted the EFCC an interim order forfeiting the $13 million linked to Oceangate to the government. He also directed the Commission to publish the order in a national daily for interested person(s) to show cause within 14 days why the funds should not be permanently forfeited to the government.

Justifying the forfeiture moves, EFCC investigator, Usman Aliyu, swore to an affidavit stating that the Commission acted on intelligence that showed that Oceangate Engineering Limited, without following due process, used funds reasonably suspected to be proceeds of unlawful activity to acquire oil blocks from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).

Aliyu insisted that the $13 million used by Oceangate to pay for the Signature Bonuses in respect of PPL302 and PPL3007 were not proceeds of any lawful and legitimate business but rather represent funds reasonably suspected to be proceeds of unlawful activity.

According to him, part of the funds used by Oceangate Engineering Oil and Gas Limited to pay for the Signature bonuses in respect of PPL 302 & PPL 3007 was derived from the huge sum of money transferred by a state government to the contractors for the execution of contracts for the benefit of the state.

The investigator alleged that there were never any contractual or business relationships between Oceangate and the contractors who transferred the aforementioned public funds to the account of the company (Oceangate Engineering).

He said the contractors, who transferred the aforementioned public funds to Oceangate, were neither investors, directors, nor shareholders in Oceangate.

But Oceangate, in its affidavit prayed the court not to make the order of final forfeiture of the funds because all the funds were derived partly from legitimate earnings of the company and partly gifts given to the Group Chief Executive Officer (GCEO) of the Company, Aisha Achimugu.

But EFCC, in its reply to the affidavit by Oceangate, prayed the court to dismiss the application.

Aliyu, who also swore the affidavit on behalf of the commission, said the Commission found that Iliya Wakil, who swore to Oceangate’s affidavit , was a mere nominal director with no shareholding status of the company.

Besides, the investigator said Wakil was an employee of Felak Concept Group Limited, also owned by Achimugu, and incorporated on May 5, 2000.

He said Wakil admitted, in his extrajudicial statement to his team on 15 April 2025 that he had worked with Felak Concept from 2000 to date.

He said Wakil also admitted that he held so many positions, “among which are Manager Admin, General Manager Admin and Finance and presently Group General Manager Admin and Finance.’

He said Wakil also stated that he had consistently drawn his monthly salary from his known employer Felak Concept and WishWhich Koncept Limited.

He argued that there was no record of Wakil drawing a salary from Oceangate.

Besides, the officer said Wakil admitted in his extra-judicial statement that he got all his instructions from Ms Achimugu, the GCEO, and he, in turn, gave the same instructions to Mr Chiroma via telephone conversation.

Aliyu described Oceangate as “a briefcase/shell company created as a vehicle for the purpose of holding petroleum related assets procured with funds reasonably suspected to be proceeds of unlawful activity.”

“Hence, describing the company as ‘a professional oil and gas consortium, operating in diverse sectors of the oil and gas sectors of the Nigerian economy,’ is nothing but describing the devil as an angel of light,” Mr Aliyu wrote.

He alleged that the modus operandi of Oceangate is to acquire “petroleum-related assets with tainted funds.”

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The call, made on Tuesday, March 17, 2026 by the Zonal Director, Enugu Zonal Directorate of the EFCC, Commander of the EFCC, CE Daniel Isei came on the heels of a courtesy visit to the Branch Controller, CBN, Enugu State, Otutubuike Justice Agbaeze, in his office. The visit was part of ongoing stakeholder engagements aimed at deepening inter-agency collaboration, promoting accountability in the financial sector and strengthening anti-money laundering measures in the country.

Describing the CBN as “our most critical partner in the fight against economic and financial crimes”, Isei noted that both agencies have consistently worked closely on several fronts and joint initiatives over the years and expressed appreciation to the apex bank for its continued support, especially in safeguarding recovered assets.

“The CBN naturally stands out as one of our most critical partners in the fight against economic and financial crimes and it serves as a secure repository for valuables recovered by the EFCC and it has greatly enhanced our operations”, he said.

While acknowledging the bank’s past cooperation, Isei appealed for more timely responses to the Directorate’s official correspondences, adding that the Commission’s office in Enugu regularly sends numerous requests as part of its investigation processes and emphasized that prompt feedback is essential for timely resolution.

“We understand that these requests may be demanding, but timely responses are crucial, as time is of the essence in financial investigations. We therefore seek for your continued indulgence in ensuring that our letters receive expeditious attention”, he said.

Responding, Agbaeze reaffirmed the bank’s commitment to sustaining its collaboration with the Commission including providing expert assistance when required. He assured Isei of enhanced synergy “in the interest of financial system stability and national development”.

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Odekina was docked on a one-count charge bordering on retention of proceeds of criminal conduct, contrary to Section 17(a) and (b) of the EFCC (Establishment) Act, 2004.

According to the charge, the defendant, alongside others still at large, allegedly received and retained the sum of N9,873,215.00 in his FCMB account in 2025.

The charge reads: “Andrew Odekina and other persons at large, sometime in 2025 at Lagos within the jurisdiction of this Honourable Court received into your FCMB account number 21016691841 and retained control of the sum of N9,873,215 (Nine Million, Eight hundred and Seventy-three thousand, Two hundred and Fifteen Naira), money which forms part of N3, 091,441.849 (Three Billion, Ninety-one Million, Four hundred and Forty-one Thousand Eight Hundred and Forty-Nine Naira) stolen from accounts domiciled with FCMB, through unauthorised access and fraudulent activities on their bank applications”.

The defendant pleaded not guilty when the charge was read to him.

Following his plea, prosecution counsel, Babatunde Sonoiki, requested a trial date and urged the court to remand the defendant in a Correctional facility pending trial. The defendant was, however, not represented by a counsel at the proceedings.

Justice Dada subsequently adjourned the matter till May 11, 2026, for trial and ordered that the defendant be remanded in a Correctional centre.

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The Economic and Financial Crimes Commission, EFCC, prosecuted the former AGF on nine-count charges bordering on money laundering

Count one of the charges reads:

That you CHUKWUNYERE ANAMEKWE NNABUOKU, TEMEEO SYNERGY CONCEPT LIMITED(at large), TURGE GLOBAL INVESTMENT LIMITED(at large), LAPTEV BRIDGE LIMITED(at large), ARAFURA TRANSNATIONAL AFRO LIMITED(at large) and other persons (at large) between September, 2019 and October, 2020 in Abuja within the jurisdiction of this Honourable Court conspired to convert funds which are proceeds of unlawful activities and you thereby committed an offence contrary to Section 18 of the Money Laundering Prohibition Act 2011 as (amended by Act No. 1 of 2012) and punishable under section 15(2) (b) and (3) of the same Act.

Count two reads:

That you CHUKWUNYERE ANAMEKWE NNABUOKU, and TEMEEO SYNERGY CONCEPT LIMITED (at large), between September, 2019 and October, 2020 in Abuja within the jurisdiction of this Honourable Court indirectly converted the sum of N262, 602,897.27 (Two Hundred and Sixty Two Million, Six Hundred and Two Thousand, Eight Hundred and Ninety Seven Naira Twenty Seven Kobo) paid into the Zenith Bank Plc account of TEMEEO SYNERGY CONCEPT LIMITED (at large) with Number 1016901286 knowing that the funds constituted proceed of unlawful activity and you thereby committed an offence contrary to section 15(2) (b) and punishable under section 15(3) of the Money Laundering (Prohibition) Act, 2011 (as amended by Act No. 1 of 2012).

Count three reads:

That you CHUKWUNYERE ANAMEKWE NNABUOKU, and TURGE GLOBAL INVESTMENT LIMITED (at large), between September, 2019 and October, 2020 in Abuja within the jurisdiction of this Honourable Court indirectly converted the sum of N202, 824,009.97 (Two Hundred and Two Million Eight Hundred and Twenty Four Thousand, Nine Naira, Ninety Seven Kobo) paid into the Zenith Bank Plc account of TURGE GLOBAL INVESTMENT LIMITED with Number 1016901279 knowing that the funds constituted proceed of unlawful activity and you thereby committed an offence contrary to section 15(2) (b) and punishable under section 15(3) of the Money Laundering (Prohibition) Act, 2011 (as amended by Act No. 1 of 2012).

Count four reads:

That you CHUKWUNYERE ANAMEKWE NNABUOKU, and LAPTEV BRIDGE LIMITED (at large), between September 2019 and October, 2020 in Abuja within the jurisdiction of this Honourable Court indirectly converted the sum of N281, 106,469.41 (Two Hundred and Eighty One Million, One Hundred and Six Thousand, Four Hundred and Sixty Nine Naira, Forty One Kobo) paid into the Zenith Bank Plc account of LAPTEV BRIDGE LIMITED with Number 1016727695 knowing that the funds constituted proceed of unlawful activity and you thereby committed an offence contrary to section 15(2) (b) and punishable under section 15(3) of the Money Laundering (Prohibition) Act, 2011 (as amended by Act No. 1 of 2012).

While delivering judgment on Monday, Justice Omotosho held that the prosecution proved its case beyond reasonable doubt, stressing that concrete evidence was presented to buttress the charges brought against the convict.

According to the judge, funds meant for the operation of the Ministry of Defense were converted to personal use.

He also stressed that the corporate accounts opened to receive proceeds of unlawful activities, did not bear the name of the convict because the former acting AGF tried to shield himself to avoid criminal prosecution.

“The evidence is clear that funds meant for the ministry of defense were converted to personal use when they were transferred into corporate accounts for the benefit of the defendant. The defendant, being a civil servant at the material time, claimed he had so many investments, however, the evidence before the court did not provide evidence of any business he was doing to explain which amount of money he controlled.”

“He was unable to explain how he purchased a property of N64m and how he got his shares worth N200m . It must also be noted that PW9 stated that the defendant refunded the sum of N220m to EFCC recovery Account which was not challenged by the defendant. The implication of this is that the defendant admitted the crime of money laundering, if he did not have a guilty mind, then he would not have refunded the money, I hereby convict the defendant on count 2 to 5 of the charge” he said.

With respect to count one, he held that the defendant must have conspired, as conspiracy is based on sole interest and purpose to commit a substantive offense as evidence of PW1 , PW2 showed that the defendant was the mastermind of the opening and operations of the corporate accounts in the name of Coiglobal, Nabyec, Arafura and Kemo which the defendant used to receive proceeds of unlawful activities.

“In respect of count 6 where the defendant was accused of concealing the aggregate sum of N355m paid into the account of Mdavies Ltd on his behalf and which the prosecution have led evidence through Pw3, there was no explanation of what the money was meant for, there was no business transaction involving the defendant and PW3 or Mdavies to warrant such huge transactions. Consequently, the court can only conclude that the defendant is guilty of concealing the origin of N355m by facilitating the payment of the money into Mdavies account. Consequently the defendant is hereby convicted on count 6 of the charge”, the judge said.

The judge also gave vivid accounts of culpability of the convict in the remaining counts 7, 8 & 9 . Justice Omotosho also noted that, prior to 2019, the defendant account balance was N3m and from August 2019, he started receiving tons of millions on the same account. “The timeline is quite curious as it coincides with the timeline of the said offences”, he said.

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The presentation was made on behalf of the Executive Chairman of the Commission, Ola Olukoyede by the Secretary to the Commission, Mohammed Hammajoda in a brief ceremony at the EFCC headquarters, Abuja.

In his remark at the occasion,   Hammajoda reiterated  the commitment of the Commission to the task of curbing economic and financial crimes, stressing that the funds were recovered through diligent investigation and professional uncovering  of fraudulent engagements by some actors in the NNPCL.

“On behalf of the Executive Chairman, we will continue to put ourselves on the line to serve over 220 million Nigerians.  Along the line, many of our colleagues have paid the price and others will still pay the price as we continue to do our work with courage and integrity. We will serve and continue to serve this country.  So,  on behalf of the EFCC, I present the sum of Three Billion, Nine Hundred and Thirty Six million, One Hundred and Forty Five Thousand, Eight Hundred and Twenty Two Naira to you”, he said.

Receiving the funds on behalf of NNPC, the Executive Vice President,   Downstream, Mumuni Dagazau excitedly thanked the Commission for  its assistance in the recovery “which goes to show the core unity that exists in our system”

“NNPC over the years has had its struggles and challenges and one thing we have always tried to do is correct the system. When the opportunity came for this recovery from your people that handled this,  it was something I was really proud of. I was also happy that we brought it to EFCC to help and support us.  We are very excited, for me this is a great day for us, we will continue to rely on you for assistance, and this is a real commitment for us moving forward”

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The funds were presented by the Commission’s Kano Zonal Directorate following the conclusion of an investigation into the misappropriation of public funds involving two suspects.

The recovery is the culmination of an investigation initiated following intelligence by the Nigerian Financial Intelligence Unit (NFIU), flagging  alleged misappropriation of public funds involving two individuals, Abdullahi Garba and Ayuba Sani.

Acting on the intelligence, operatives of the Commission launched a thorough investigation, during which a total sum of N387,483,488.00 was successfully recovered from the suspects.

Upon  conclusion of the investigation, the duo were arraigned in court on charges related to misappropriation of public funds. Subsequently, one of the suspects, Abdullahi Garba, was convicted and sentenced to two years imprisonment after pleading guilty to the charge against him. The second suspect, Ayuba Sani, is currently standing trial.

While presenting the bank draft to the state government representative, the Acting Zonal Director of the Kano Directorate,  Assistant Commander of the EFCC,  ACE1 Friday S. Ebelo, reiterated the Commission’s unwavering dedication to justice.

“The EFCC remains resolute in its mandate to investigate and ensure the recovery of proceeds of crime.  We are committed to the delivery of justice to all victims of corruption, whether they are individuals or government institutions. This handover is a testament to our determination to ensure that funds meant for the development of the people are not diverted for personal use.”

Receiving the bank drafts on behalf of the Jigawa State Government,  Haruna expressed profound gratitude to the Commission for its diligence, thoroughness and professionalism exhibited throughout the investigation.

“We deeply appreciate the EFCC for its efforts in recovering this substantial amount of money for the people of Jigawa State.  This recovery demonstrates the importance of the anti-graft agency and its commitment to safeguarding public funds. The people of Jigawa are the ultimate beneficiaries of this recovery”, he said.

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The Economic and Financial Crimes Commission, EFCC, is prosecuting the defendants on an amended 16-count charge bordering on conspiracy, procuring, disguising, concealing and laundering proceeds of unlawful activities to the tune of N8,713,923,759.49 (Eight Billion, Seven Hundred and Thirteen Million, Nine Hundred and Twenty-Three Thousand, Seven Hundred and Fifty-Nine Naira, Forty-Nine Kobo), contrary to the provisions of the Money Laundering (Prevention and Prohibition) Act, 2022.

At the resumed hearing of the matter on Monday, prosecution counsel, J.S. Okutepa, SAN, presented Daniel Simon Kwayil, a compliance officer with Union Bank as Prosecution Witness Two (PW2).

After taking his oath, Kwayil told the court that the bank received a letter from the EFCC in 2025 requesting documents relating to Meethaq Hotels Limited, including a forwarding letter, certificate of compliance, account opening package and statement of account of the company with account number 0179011105.

When asked if he could recognise the documents, the witness confirmed that he could identify them, adding that the letter was dated December 23, 2025, on a Union Bank letterhead.

Okutepa then sought to tender the documents as evidence.

Responding, defence counsel J.B. Daudu, SAN, said he had no objection for the time being but reserved the right to raise one if necessary.

Justice Abdulmalik subsequently admitted the documents in evidence and marked them as Exhibit B series.

Led further in evidence, the witness was asked to refer to page 37 of the statement of account.

According to him, on February 5, 2024, there was a payment of N14 million by instant transfer to Abubakar Malami on the order of Meethaq Hotels Limited.

He further stated that on March 4, 2024, there was another transfer of N24 million in favour of Abubakar Malami from Meethaq Hotels Limited.

The witness added that on February 3, 2024, another N24 million was transferred to A.A. Malami and Co on the order of Meethaq Hotels Limited.

Kwayil also told the court that on May 3, 2024, as reflected on page 38, there was a transfer of N12,500,000 in favour of A.A. Malami.

When asked who the signatory to the account of Meethaq Hotels Limited was, the witness replied:

“The sole signatory to Meethaq Hotels Limited is Asabe Rakiya Bashir.” He identified the second defendant, Asabe Rakiya Bashir, in the dock and told the court that her identification card appeared on pages 11 and 12 of the account opening documents.

He also noted that the board resolution on page 10 made her the sole signatory to the account.

Further testifying, Kwayil said the statement of account of Meethaq Hotels Limited spanned pages 34 to 41, showing both inflows and outflows.

According to him, on November 3, 2022, the account received two deposits of N1,745,242.73 and N21,202,209.36.

He said on November 8, 2022, the account received N685,200.00 and N685,400.

The witness added that on November 18, 2022, the account received N1,047,019.55.

He further told the court that on November 28, 2022, the account received N10 million twice from YMB Energy Limited.

Continuing, he said on December 2, 2022, the account received N4,565,320.58, while on December 5, 2022, it received N4,828,880.56.

Kwayil also stated that on December 20, 2022, there was an inflow of N1,83,686.44 into the account.

According to him, on January 10, 2023, the account received N43,177,453.94, and another N4,650,781.50 on the same day.

He added that on January 17, 2023, the account received N915,540.84, while on February 12, 2023, it received N25,483,054.24, all transfers from Meethaq Hotels Limited.

The witness further stated that on March 3, 2025, there was an inflow of N11,166,235.10 from Meethaq Hotels Limited.

He added that on March 14, 2023, the account received N118,814.64.

According to him, on April 3, 2023, another inflow of N13,388,808.38 was recorded from Meethaq Limited account II, while on April 14, 2023, the account received N158,066.73.

Under cross-examination by J.B. Daudu, SAN, the witness told the court that he joined Union Bank in August 2014.

He confirmed that he was not the relationship manager of the Meethaq Hotels account, adding that his office had supervisory responsibilities covering Abuja, Niger and Nasarawa.

Asked how he got to know the second defendant, he said he met her at the Maitama branch where the account was opened, but could not remember the exact date.

He also stated that he requested to see her physically to confirm whether she was the person on the identification card.

When asked if he knew A.A. Malami and Co, the witness, said he knew it belonged to the former Attorney-General of the Federation and Minister of Justice.

Asked whether the transactions were commercial in nature, he responded:

“I don’t know because I’m not a party and I don’t know the purpose of the transaction.”

With no re-examination, the witness was discharged.

The prosecution then called Olomotane Egoro, a compliance officer with Access Bank, as Prosecution Witness Three (PW3).

Egoro told the court that in 2025, the bank received a request from the EFCC for documents relating to Rayhaan Bustan and Agro Allied Nigeria Limited with account number 1383843226, and Khadimiyya for Justice and Development Initiative with account number 0828310158.

He said the documents included forwarding letters, certificates of identification, account opening documents, loan offer letter, memorandum of acceptance and statements of account.

According to him, the correspondences were dated February 6 and February 9, 2026.

When the prosecution sought to tender the documents, Daudu objected, arguing that he had not seen the witness’s statement and needed to confirm whether he was testifying on subpoena.

Okutepa, however, drew the court’s attention to the list of witnesses attached to the charge, noting that representatives from several banks, including Access Bank, GTBank and Sterling Bank, were listed.

He cited Section 378 (1) of the Administration of Criminal Justice Act (ACJA) in support of the prosecution’s position.

In her ruling, Justice Abdulmalik held that since the witness’s bank was listed among those expected to testify, the defence could cross-examine him and request time to study his testimony if necessary.

Daudu subsequently reserved his objection.

The court thereafter admitted the documents in evidence and marked them as Exhibits C1 and C2.

Testifying on Exhibit C1, the witness said Rayhaan Bustan and Agro Allied Nigeria Limited had a sole signatory, Abdulaziz Malami, which was reflected in the loan offer documents.

He added that the loan offer of N400 million was contained in pages 4 to 4E, including the acceptance letter.

Egoro told the court that the loan was disbursed on October 9, 2020, into the account of Rayhaan Bustan Agro Allied Limited and was fully repaid on July 14, 2022.

He further testified that on November 10, 2020, N100 million was transferred from the account to New Horizon Limited.

He added that on the same date, N10,575,360 was also transferred to the same company.

According to him, there were additional transfers of N20 million, N20 million, N20 million, N20 million, and N20 million to New Horizon Limited on the same day.

The witness also said that on October 9, 2020, the account received N400 million, being the principal disbursement under the loan facility.

He added that on the same day, there was a debit of N4 million as management fee and N300,000 as VAT.

He further stated that on November 10, 2020, there was a debit of N1,185,792.35 as main interest liquidation.

Testifying on Exhibit C2, relating to Khadimiyya for Justice and Development Initiative, the witness said the signatories to the account were Abdulkadir Malami, Usman Gotomo Abubakar and Faruku Abubakar.

He said the first inflow into the account occurred on October 17, 2019, when N500,000 was paid by Abubakar Abdulaziz Malami.

He added that another N500,000 was paid by the same person on October 23, 2019.

According to him, on October 28, 2019, the account received N1,720,00.

He further told the court that on October 29, 2019, Musa Yamilu Galadanci paid N1,500,000, while on October 30, 2019, Chimugu Surajo paid N1,200,000.

The witness said that on October 4, 2019, the account received N8 million from Afuwa Services Limited.

He added that on November 5, 2019, A.A. Funtua FX Limited paid N1 million, while on November 6, 2019, there was a cash deposit of N2 million by Faruku Madugu Gwandu.

He also stated that on November 27, 2019, N500 thousand was deposited by Aliyu Gwandu, while on November 28, 2019, Halliru Bala paid N2,500,000.

Egoro told the court that on January 29, 2020, Afuwa Integrated Services Limited paid N10 million, while on January 23, 2020, the same company paid N5 million and another N10 million.

He added that on February 18, 2020, Afuwa Integrated Services Limited paid N1,800,750, while Abdulhamid Ibrahim Ismail paid N5,250,000 on the same day.

According to him, on February 28, 2020, Moriks Global Enterprise paid N2 million, while Abdulshakur Abdulhamid paid N1,500,000 on March 3, 2020.

The witness stated that the total lodgment into the Khadimiyya for Justice and Development Initiative account between October 17, 2019 and December 31, 2023 was N722,986,603.75.

He also told the court that the total lodgment into the Rayhaan Bustan and Agro Allied Limited account between March 26, 2020 and January 31, 2025 was N1,857,978,100.

Under cross-examination, Daudu asked how the witness came to testify in court.

Egoro responded that the EFCC invited him through his bank and not through a subpoena.

Asked whether he was a staff of the EFCC, he said no, adding that he did not know the purpose of the payments reflected in the account statements.

With no re-examination from the prosecution, Justice Abdulmalik adjourned the matter till April 20, 2026 for continuation of trial.

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Adekola was arraigned on a one-count amended charge bordering on stealing to the tune of N12,000,000 (Twelve Million Naira).

The lone count charge reads:
“That you, OLUOKUN GABRIEL ADEKOLA, and other persons at large, sometime in 2025 in Lagos within the jurisdiction of this Honourable court, collaborated with others to conceal and disguise the genuine origin of N12,000,000 paid into your account by transferring and converting same to cash through Point of Sale (POS) agents, money which forms part of N3,091,441,849 stolen from accounts domiciled with FCMB through unauthorized access and fraudulent activities on their mobile banking applications.”

He pleaded “guilty” to the charge when it was read to him.

Following his plea,   prosecution counsel, M. K. Bashir and E. S. Okongwu, asked the court for a date to review the facts of the case and sentence.

The prosecution also prayed that the defendant be remanded in a Correctional centre.

Justice Oshodi  adjourned the matter till March 17, 2026 for the review of facts and sentence, and also ordered that the defendant be remanded in a correctional centre.

Adekola had earlier been convicted on July 23, 2020 by Justice Joyce Abdulmalik of the Federal High Court, Ibadan, Oyo State, and sentenced to 20 years’ imprisonment for defrauding a Taiwanese  of $22,300, following his prosecution  by the Ibadan Zonal Directorate of the EFCC on a six-count amended charge of obtaining money by false pretence.

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The convicts were arraigned on March 2, 2018 on an amended 15- count charge bordering on conspiracy, forgery, uttering of false documents, dealing with forfeited property, attempt to pervert the cause of justice and fabricating evidence.

One of the counts reads: “Emmanuel Nwude, Emmanuel Ilechukwu and Rowland Kalu, between 2011-2012, at Lagos within the jurisdiction of this Honourable Court, without due authorization by the Commission, dealt with the property known as Plot Y Mobolaji Johnson Street, Oregun, Ikeja ,whereas you knew that the property was forfeited to the victims  of crimes as restitution in the judgment delivered on 18th day of November,2005 by Hon. Justice Oyewole in ID/92C/04 – FRN vs. Emmanuel Nwude and 6 Ors and the victims subsequently sold the property to Rosaab Industrial Design Limited and which Rosaab Industrial Design Limited later assigned to G. C. Nweze and Company Limited.”

The defendants all pleaded “not guilty” to the charges preferred against them, thereby leading to their full trial.

During the trial, the prosecution counsel, Nnaemeka Omewa, called five witnesses and tendered several documents, which were admitted in evidence against the defendants by the court.

The prosecution subsequently closed its case on March 19, 2019.

Following the closure of the prosecution’s case, Nwude and his counsel filed  a no-case submission.

The judge, in a ruling delivered on September 19, 2019, dismissed the application and ordered the defendants to enter their defence.

Rather than enter his defence, Nwude approached the Court of Appeal in Appeal No. CA/LAG/CR/1244/2019, challenging the ruling of the court.

The appellate court, however, dismissed the appeal and ordered him to open his case at the trial court.

Following the order of the appellate court, Nwude subsequently opened his case on February 22, 2021.

During the proceedings, he testified for himself and called three other witnesses before closing his case.

The second and third defendants, who are both lawyers to Nwude,  also testified for themselves and, thereafter  closed their case on February 27, 2025.

The court, thereafter, ordered the filing of final addresses by parties and adjourned the matter till June 25, 2025.

The  defendants filed and served their final addresses at different times, with the third defendant serving his own response on the prosecution on June 20, 2025.

At the sitting on June 25, 2025, the court further adjourned the matter till September 25, 2025.

The prosecution filed its responses to the defendants’ final addresses  separately and served same on all the defendants.

But in a dramatic twist, when the matter came up for adoption of final address on September 25, 2025, Dr. Babajide Martins, Director,  Directorate of Public Prosecution(DPP), Lagos State, entered appearance in court and intimated the court that he had been instructed to take over proceedings of the matter based on a petition written to his office by the second defendant, Ilechukwu.

The judge, however, stated that the matter was for the adoption of final address and also inquired to know why he would want to take over a matter that had been almost concluded.

Martins, during the proceedings, could not give a definite answer.

The court, thereafter, adjourned till November 5, 2025 for  the adoption of final address to enable the first defendant’s counsel file his reply on points of law to the prosecution’s final address.

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Trusting the proposal, Omomo transferred a total of $850,000 to Emmanuel to facilitate the acquisition of the properties.

But the promised investment never materialised.

Years later, the deal that once looked like a business opportunity ended in a courtroom.On Monday, March 9, 2026, Justice Ismail Ijelu of the Lagos State High Court sitting in Ikeja sentenced Emmanuel to one year imprisonment for obtaining money under false pretences.

The case was prosecuted by the Economic and Financial Crimes Commission (EFCC) through its Lagos Zonal Directorate in Ikoyi. Emmanuel had initially been arraigned in November 2025 on a 21-count charge bordering on obtaining under false pretence, forgery and retention of stolen property.

Court records showed that Emmanuel not only failed to use the money for the proposed real estate development but also diverted part of the funds for personal use. Two of the charges detailed how he converted over N12.3 million and N8.6 million belonging to Omomo between 2018 and 2019.

During the trial, EFCC prosecutor C. C. Okezie presented several documents which the court admitted as evidence. The prosecution also revealed that three properties belonging to Emmanuel had earlier been ordered forfeited by the Federal High Court in Ikoyi in favour of the victim.

As the trial progressed, the EFCC amended the charges to seven counts, and when Emmanuel was re-arraigned on March 5, 2026, he changed his plea from “not guilty” to “guilty.”

Delivering judgment, Justice Ijelu ruled that the prosecution had proven its case beyond reasonable doubt. The court sentenced Emmanuel to one year in prison, effective March 9, 2026, and ordered him to pay a fine of N1 million within 30 days.

The judge also upheld the earlier forfeiture of the three properties to Omomo and directed Emmanuel to undertake to be of good behaviour before the EFCC.

For Omomo, the ruling closes a painful chapter that began with trust in a business partnership and ended with years of legal battles. While the court’s decision may not erase the financial loss, it marks a step toward justice in a case that began with a promise of opportunity but ended in deception.

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