In 2018, when Taeko Omomo agreed to go into business with Obiajulu Emeka Emmanuel, she believed she was investing in a promising real estate venture. The plan, according to Emmanuel, was simple: establish a company called First Unspeakable Grace Ltd, buy land, develop properties, and sell them for profit.
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.
