EFCC brings Lagos couple to court for N2.7bn fraud charges

Oriyomi and Ruth Idowu were charged with 20 counts of offences by the Lagos Zonal Command of the Economic and Financial Crimes Commission (EFCC) on Tuesday, November 28. The charges were brought before Justice Mojisola Dada of the Special Offences Court located in Ikeja, Lagos.

Allegations totaling N2.7 billion include forgery, money laundering, stealing, keeping stolen goods, and obtaining money by fraud.

Along with Ruth Idowu’s businesses, Farmex Integrated Companies Limited, Bonway Food Processing Company Limited, Samee Idowu Company Limited, and Food Commodity Processing Enterprise were also charged.

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The following is stated in one of the counts: “Sometime in 2023 in Lagos, within the jurisdiction of this Honourable court, 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, converted the sum of N10,000,000 to purchase a GLK Benz, purchase sum derived from the sum of N500,000,000 belonging to Creditpro Business Support Services with the aim of concealing the illegal origin of the funds.”

“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, dishonestly retained the sum of N936,619,876 (Nine Hundred and Thirty-Six Million, Six Hundred and Nineteen Thousand, Eight Hundred and Seventy-Six Naira only) in your UBA bank account, property of Creditpro Business Support Services, knowing it was money obtained fraudulently from Creditpro Business Support Services.”

When the charges were read to the defendants, they entered a “not guilty” plea.

Prosecution attorney Bilikisu Buhari asked the court to set a trial date and confine the defendants to a detention facility in light of their pleas.

G. Onwubuya, the first defendant’s attorney, told the court that his client had requested bail, which had not yet been served to the prosecution. In addition to requesting a brief postponement of the hearing so that the bail motion could be heard, he called for the court to remand the defendants in the EFCC’s custody.

Ms. Buhari told the court in her objection that the EFCC’s detention facility was already overburdened. In addition, she informed the court that a Correctional Centre would be the proper location for arraignment.

The judge decided that the second defendant, whose attorney, J.J. Ogunyemi, had not yet filed a bail application, was not in court.

Judge Dada ruled that the defendants be kept at the jail facility “pending hearing and determination of their bail applications” and postponed the case to December 15th.