The Economic and Financial Crimes Commission (EFCC) has formally initiated an appeal to challenge the acquittal of a former Executive Director of the Niger Delta Development Commission (NDDC), Tuoyo Omatsuli, in a high-profile N3.645 billion money laundering case. The anti-graft agency filed a Notice of Appeal at the Lagos Division of the Court of Appeal, contesting the March 3rd judgment of the Federal High Court in Lagos which discharged and acquitted Omatsuli, his co-defendant Francis Momoh, and two affiliated companies.
In its appeal, the EFCC, represented by counsel E.E. Iheanacho (SAN), contends that the trial court erred in its evaluation of the evidence. The Commission argues that the judge failed to properly consider testimonies from 16 prosecution witnesses and numerous documentary exhibits. It further asserts that the lower court disregarded relevant rulings from the Court of Appeal which had previously established a prima facie case, necessitating the defendants to enter a defence. The EFCC maintains that the substantial sum traced to the respondents constituted unlawful gratification from a contractor, not legitimate payment.
The prosecution alleges that the defendants engaged in concealing the origin of the funds by converting portions into foreign currency and restructuring company ownership following the commencement of investigations. The EFCC also accuses them of creating backdated documents to justify the transactions. Based on these grounds, the Commission is urging the appellate court to set aside the acquittal and enter a conviction. This legal development occurs amidst other significant national events, such as discussions surrounding the 2026 World Cup and political maneuvers like those from the Atiku camp accuses.
Omatsuli’s legal scrutiny originated in 2015, during the administration of former President Muhammadu Buhari, over allegations of an attempt to divert N3.8 billion from the NDDC. The case resurfaced in 2024 when the EFCC renewed its prosecution efforts. The NDDC, a federal agency established for the development of the Niger Delta region, remains central to this protracted legal battle. As this appeal progresses, it draws attention alongside notable economic activities, including milestones like FCMB hits N500bn in assets and strategic business moves such as SKLD Integrated launches new ventures, all shaping Nigeria’s contemporary financial and political landscape, including the early formations for ADC: Tinubu’s 2026 political strategies.
