Justice Ismail Ijelu of the Lagos State High Court sitting in Ikeja sentenced Obiajulu Emeka Emmanuel on March 9, 2026. The judge found him guilty of fraud.
Moreover, Justice Ismail Ijelu imposed a one-year prison term effective immediately. Additionally, the court ordered the convict to pay a fine of one million naira within 30 days.
Businessman Pleaded Guilty to Fraud Charges
The Economic and Financial Crimes Commission arraigned Obiajulu Emeka Emmanuel on November 10, 2025. Prosecutors filed 21 counts that included obtaining by false pretences, forgery and retention of stolen property.
However, the EFCC amended the charges to seven counts. As a result, Obiajulu Emeka Emmanuel changed his plea to guilty on March 5, 2026.
Complainant Lost 850,000 Dollars in Property Scheme
The case involved a business agreement with Taeko Omomo. In 2018, Obiajulu Emeka Emmanuel convinced her to set up First Unspeakable Grace Ltd for land purchase and property development.
Furthermore, Taeko Omomo transferred 850,000 dollars for the project. “The Omomo transferred a total sum of $850,000 to Emmanuel to facilitate the acquisition of the properties. The convict neither acquired the properties nor returned the petitioner’s funds to her,” the EFCC stated.
One charge read: “OBIAJULU EMEKA EMMANUEL sometime between the 4th of January, 2018 to the 17th of December, 2018, in Lagos, within the jurisdiction of this Honourable Court dishonestly converted to your own use the aggregate sum of N12,330,423.90 property of Taeko Omomo.”
Court Upholds Forfeiture of Assets
Prosecution counsel C. C. Okezie tendered several documents in evidence. Moreover, Justice Ismail Ijelu upheld the forfeiture of three properties to Taeko Omomo.
The judge held that the prosecution proved its case beyond reasonable doubt. Therefore, he convicted Obiajulu Emeka Emmanuel.Additionally, the court directed the convict to be of good behaviour before the EFCC.
Ruling Ends Months-Long Case
The Lagos Zonal Directorate 1 of the EFCC handled the prosecution. Consequently, the judgment marked the end of the trial process that started in late 2025. The sentence took immediate effect after the court ruling on March 9, 2026.
