EFCC appeals NDDC ex-director’s acquittal in N3.6bn laundering case
EFCC appeals NDDC ex-director’s acquittal in N3.6bn laundering case
The Economic and Financial Crimes Commission (EFCC) has filed an appeal against the acquittal of Tuoyo Omatsuli, a former NDDC executive, over alleged N3.6 billion money laundering.
The appeal, lodged at the Lagos division of the Court of Appeal, also targets Francis Momoh, Don Parker Properties Limited, and Building Associates Limited. EFCC’s legal team is led by Senior Advocate Ekele Iheanacho (SAN).
The anti-graft agency insists the trial court erred by dismissing evidence from 16 witnesses and numerous documents presented during the proceedings.
EFCC argues the lower court overlooked prior appellate rulings regarding prima facie cases in money laundering.
“Substantial funds traced to Omatsuli were unlawful gratifications disguised as corporate transactions,” an EFCC spokesperson said.
“These payments, routed through proxies and companies, were allegedly used to acquire high-value properties and convert funds into foreign currency.”
EFCC also accused the defendants of attempting to conceal transactions, including restructuring company ownership and producing backdated documents after the investigation began.
The commission is asking the appellate court to overturn the lower court’s ruling and secure a conviction.
The case originates from a Federal High Court judgment by Justice Daniel Osiagor in March 2026, which acquitted Omatsuli and others on all 46 counts, including conspiracy and failure to report statutory obligations.
Justice Osiagor ruled that the prosecution failed to prove essential elements of money laundering, describing the EFCC’s intelligence as unsubstantiated.
This marks the second major acquittal for the defendants. They were initially discharged in 2020, though the Court of Appeal later reinstated the trial from the defence stage.
The retrial began in 2025 after reassignment following the retirement of the initial trial judge, Saliu Seidu.
Omatsuli and co-defendants have maintained not guilty pleas throughout the proceedings.
The appellate court’s decision on EFCC’s appeal is now being closely watched as a potential landmark for anti-corruption enforcement in Nigeria.
