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Couple arraigned for N2.7bn fraud in Lagos by EFCC

Couple arraigned for N2.7bn fraud in Lagos by EFCC

The Economic and Financial Crimes Commission (EFCC), Lagos Zonal Command, brought a couple, Oriyomi Idowu and Ruth Idowu, before Justice Mojisola Dada of the Special Offences Court in Ikeja, Lagos, on Tuesday, November 28, 2023. They faced 20 counts related to offenses such as obtaining money by false pretences, money laundering, stealing, retention of stolen property, and forgery, amounting to N2.7 billion.

The charges also implicated several companies belonging to Ruth Idowu, including Food Commodity Processing Enterprise, Bonway Food Processing Company Limited, Samee Idowu Company Limited, and Farmex Integrated Companies Limited.

A specific count in the charges alleged, “Ruth Sameeha Idowu, aka Loiry Ventures, Oriyomi Kabeer Idowu, aka Yocli Ventures, Food Commodity Processing Enterprise, Bonway Food Processing Company Ltd, Samee Idowu Company Limited, Farmex Integrated Companies Limited, sometime in 2023 in Lagos, within the jurisdiction of this Honourable court, converted the sum of N10,000,000 to purchase a GLK Benz, purchase sum derived from converting the sum of N500,000,000 belonging to Creditpro Business Support Services with the aim of disguising the illegal origin of the funds.”

Upon the reading of the charges, the defendants pleaded “not guilty.” Subsequently, the prosecution counsel, Bilikisu Buhari, requested a trial date and urged the court to remand the defendants at a Correctional Facility.

The counsel for the first defendant, G. Onwubuya, informed the court about the pending bail application, which had not been served on the prosecution. He sought the remand of the defendants in EFCC custody and requested a short adjournment for the hearing and determination of the bail application.

The judge noted the absence of a bail application for the second defendant and adjourned the matter to December 15, 2023. She ordered that the defendants be remanded at the Correctional Centre “pending hearing and determination of their bail applications.”

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