Alleged $850,000 Fraud: Court Jails Man One Year in Lagos

Ikeja, March 9, 2026

Justice Ismail Ijelu of the Lagos State High Court sitting in Ikeja on Monday, March 9, 2026, convicted and sentenced Obiajulu Emeka Emmanuel to one year imprisonment for obtaining the sum of $850,000 under false pretences.

The Economic and Financial Crimes Commission (EFCC), through its Lagos Zonal Directorate 1 in Ikoyi, first arraigned the defendant on November 10, 2025, on a 21-count charge bordering on obtaining under false pretence, forgery and retention of stolen property, contrary to provisions of the Advance Fee Fraud and Other Related Offences Act, 2006 and the Criminal Law of Lagos State.

One of the charges stated that the defendant, sometime between January 4 and December 17, 2018, in Lagos, dishonestly converted to his own use the aggregate sum of N12,330,423.90 (Twelve million, Three hundred and Thirty thousand, Four Hundred and Twenty Three Naira, Ninety Kobo), property belonging to Taeko Omomo.

Another charge alleged that between January 7 and December 27, 2019, he dishonestly converted to his own use the sum of N8,697,505.89 (Eight million, Six Hundred and Ninety Seven Thousand, Five Hundred and Five Naira, Eighty Nine Kobo), also belonging to the same petitioner.

During the proceedings, prosecution counsel, C. C. Okezie, tendered several documents which were admitted as evidence by the court. She further informed the court that the EFCC had earlier secured a final forfeiture order before Justice Chukwujekwu Joseph Aneke of the Federal High Court sitting in Ikoyi for three properties belonging to the defendant, which were forfeited in favour of the victim.

Following developments during the trial, the EFCC amended the charges to seven counts and re-arraigned the defendant on March 5, 2026. Upon re-arraignment, Emmanuel changed his plea from “not guilty” to “guilty.”

In his judgment, Justice Ijelu held that the prosecution had proven its case beyond reasonable doubt. The court therefore found the defendant guilty and sentenced him to one year imprisonment effective from March 9, 2026. He was also ordered to pay a fine of N1,000,000 within 30 days.

The court further upheld the forfeiture of the three properties to the victim, in line with the earlier order of the Federal High Court, and directed the defendant to undertake to be of good behaviour before the EFCC.

Emmanuel’s road to imprisonment began in 2018 when the petitioner, Omomo, entered into a business arrangement with him to establish a company known as First Unspeakable Grace Ltd for the purpose of purchasing land and developing properties for profitable sales.

According to the EFCC, the petitioner transferred a total sum of $850,000 to Emmanuel to facilitate the acquisition of the properties. However, the convict neither acquired the properties nor returned the petitioner’s funds.