The Economic and Financial Crimes Commission (EFCC) has filed a comprehensive appeal at the Lagos Division of the Court of Appeal, challenging the acquittal of former Niger Delta Development Commission (NDDC) Executive Director Touyo Omatsuli and three associates over an alleged ₦3.645 billion money laundering scheme.
The appeal follows the Federal High Court, Lagos judgment delivered by Justice Daniel Osiagor, which discharged and acquitted Omatsuli, Don Parker Properties Limited, Francis Momoh, and Building Associates Limited on all 46 counts of an amended charge involving money laundering, conspiracy, and failure to comply with statutory reporting obligations.
Represented by a team of senior and junior counsel led by E.E. Iheanacho (SAN), the EFCC argued that the trial court erred in law and failed to properly consider extensive evidence, including testimonies from 16 witnesses and numerous documentary exhibits.
The Commission maintained that the court disregarded prior Court of Appeal rulings affirming that a prima facie case had been established and incorrectly concluded there was no evidence linking the respondents to the alleged offences.
EFCC lawyers contended that the ₦3.645 billion traced to Omatsuli and associated companies represented unlawful gratification, funneled through Building Associates Limited and other accounts, and ultimately used to acquire high-value properties to conceal its origin. They described the transactions as part of a coordinated laundering scheme, including cover-up measures such as restructuring companies, backdating documents, and relinquishing shares.
The Commission also faulted the trial court for selectively relying on cross-examination excerpts while ignoring the broader prosecution evidence, emphasizing that the testimonies of key witnesses were consistent and supported by documentary proof.
Additionally, EFCC lawyers highlighted that the lower court misinterpreted anti-corruption and money laundering laws, including the Corrupt Practices and Other Related Offences Act, the Code of Conduct Bureau and Tribunal Act, and the Money Laundering (Prohibition) Act. They argued that knowledge of illicit transactions can be inferred from surrounding circumstances and patterns of conduct, and that the companies involved failed in their obligations as Designated Non-Financial Institutions to report suspicious transactions.
In its appeal, the EFCC urged the Court of Appeal to overturn the Federal High Court’s judgment, allow the appeal, and convict the respondents, while also granting any further orders the court deems appropriate.
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