A Federal High Court in Lagos has fixed March 3, 2026 for judgment in the N3.6bn fraud case involving former NDDC Executive Director, Tuoyo Omatsuli, after years of trial and extensive EFCC evidence
N3.6bn NDDC Fraud: Court Sets March 3, 2026 for Judgment in Tuoyo Omatsuli Trial
Justice D. E. Osiagor of the Federal High Court in Ikoyi, Lagos, has fixed March 3, 2026 for judgment in the alleged N3.6 billion fraud case involving former Executive Director (Projects) of the Niger Delta Development Commission (NDDC), Tuoyo Omatsuli.
Omatsuli is standing trial alongside Don Parker Properties Limited, Francis Momoh and Building Associates Limited on a 46-count amended charge bordering on conspiracy, gratification and money laundering to the tune of N3.645 billion. The charges were brought by the Economic and Financial Crimes Commission (EFCC), and all defendants have pleaded “not guilty.”
During the lengthy trial, EFCC counsel Ekele Iheanacho (SAN) presented 16 witnesses and 34 exhibits, including bank statements, property documents, corporate filings and a previous final forfeiture order connected to assets linked to the defendants.
A no-case submission filed by the defence had earlier been dismissed after the Court of Appeal, Lagos Division, held that the EFCC established a prima facie case, compelling all defendants to enter their defence.
At Friday’s proceedings, Iheanacho told the court that EFCC investigations began after receiving intelligence suggesting that Starline Consultancy Services, a firm engaged by the NDDC to recover statutory levies from oil and gas companies, had paid out large sums under questionable circumstances.
He recalled that Starline Consultancy recovered over N100 billion for the NDDC and earned about N10.2 billion in commission, out of which N3.645 billion was allegedly paid as unlawful gratification to Omatsuli through Building Associates Limited, operated by one of the defendants.
According to Iheanacho, “The Commission also established that the funds were channeled through a series of transfers designed to disguise their origin. Parts of the funds were further converted to the United States Dollars through third-party accounts and delivered to the first defendant.”
He added that the funds were used to acquire high-value properties in Lekki and other locations, registered in the name of Don Parker Properties Limited, a company allegedly controlled by Omatsuli.
“Payments for the properties were consistently made by Building Associates Limited using funds traced to Starline Consultancy,” he said, noting that the assets had already been forfeited to the Federal Government in earlier civil proceedings.
The prosecution further argued that testimonies from NDDC officials, banks, property vendors and the contractor who handled dollar exchanges confirmed that Building Associates Limited played no legitimate role in NDDC’s debt recovery process.
“The sub-contract letter issued to Building Associates Limited was back-dated merely to conceal the illicit transactions,” Iheanacho stated.
He also highlighted regulatory breaches, saying Don Parker Properties and Building Associates—both real estate companies—were legally required to register as Designated Non-Financial Institutions (DNFIs) and submit currency transaction reports under anti-money laundering laws, but failed to do so.
The EFCC argued that the payments from Starline Consultancy constituted corrupt gratification as defined under the ICPC Act, making them predicate offences under the Money Laundering (Prohibition) Act.
Iheanacho insisted the defendants’ testimonies were “riddled with contradictions and unsupported by documentary evidence,” urging the court to convict them.
Adopting his final address, he said the prosecution had proved all charges beyond reasonable doubt.
The case was thereafter adjourned to March 3, 2026 for judgment. Read More
