Notorious Fraudster, Emmanuel Nwude, Two Lawyers Jailed For Forgery, Dealing In Forfeited Property

MICHAEL AKINOLA 

Justice Mojisola Dada of the Special Offences Court in Ikeja, Lagos, has sentenced notorious fraudster Emmanuel Nwude and two lawyers — Emmanuel Ilechukwu and Rowland Kalu — to one year in prison each for forgery and illegally dealing in forfeited property.

The three men were convicted on Wednesday, March 11, 2026, after a lengthy trial that began several years ago.

They were first arraigned on March 2, 2018, on an amended 15-count charge bordering on conspiracy, forgery, uttering false documents, dealing in forfeited property, attempting to pervert the course of justice, and fabricating evidence.

All three pleaded not guilty, prompting a full trial.

According to one of the charges, the defendants allegedly dealt with a property located at Plot Y, Mobolaji Johnson Street in Oregun, Ikeja, between 2011 and 2012 without authorization from the authorities.

Prosecutors said they knew the property had already been forfeited to victims of crime as restitution following a judgment delivered on November 18, 2005, in a case involving Nwude and several others.

The property had later been sold by the victims to Rosaab Industrial Design Limited, which subsequently assigned it to G. C. Nweze and Company Limited.

During the trial, the prosecution, led by Nnaemeka Omewa, called five witnesses and presented several documents that were admitted as evidence by the court.

The prosecution closed its case on March 19, 2019.

Afterward, Nwude and his lawyers filed a no-case submission, arguing that the prosecution had not established a case against them. However, in a ruling delivered on September 19, 2019, Justice Dada dismissed the application and directed the defendants to open their defence.

Instead of proceeding with his defence immediately, Nwude challenged the ruling at the Court of Appeal.

In Appeal No. CA/LAG/CR/1244/2019, he asked the appellate court to overturn the trial court’s decision.

The Court of Appeal dismissed the appeal and ordered him to return to the trial court to continue his defence.

Nwude eventually opened his case on February 22, 2021. He testified in his own defence and called three witnesses before closing his case.

His co-defendants, Ilechukwu and Kalu — both lawyers who represented him — also testified on their own behalf and closed their defence on February 27, 2025.

Following the conclusion of the defence, the court directed both parties to file their final written addresses and initially adjourned the matter to June 25, 2025.

The defendants filed their final submissions at different times, with the third defendant serving his response to the prosecution on June 20, 2025.

However, when the matter came up again on June 25, 2025, the court adjourned proceedings to September 25, 2025.

In a dramatic twist on that date, Babajide Martins, Director of the Directorate of Public Prosecutions (DPP) in Lagos State, appeared in court and informed the judge that he had been instructed to take over the case following a petition submitted to his office by the second defendant, Ilechukwu.

Justice Dada, however, pointed out that the case was already at the stage of adopting final written addresses and questioned why the DPP would seek to take over proceedings that were virtually concluded.

Martins was unable to provide a clear explanation during the proceedings.

The court subsequently adjourned the matter to November 5, 2025, to allow the first defendant’s counsel file a reply on points of law to the prosecution’s final address before the adoption stage.

Nwude was born in 1955, and a native of Abagana in Anambra State.

A former Nigerian banker and businessman, Nwude, notorious for orchestrating one of the largest financial frauds in history.

Between 1995 and 1998, he successfully “sold” a non-existent international airport to a Brazilian bank for $242 million.

Posing as Paul Ogwuma, then Governor of the Central Bank of Nigeria, Nwude convinced Nelson Sakaguchi, a director at Brazil’s Banco Noroeste, to invest in a fictitious airport project in Abuja.

Nwude used forged documents and accomplices to simulate a high-level government deal, promising Sakaguchi a $10 million commission.