LAGOS, Nigeria – The Economic and Financial Crimes Commission (EFCC) has announced the trial date for a Lagos-based couple, Oriyomi Idowu and Ruth Idowu, accused of significant financial fraud. Set to commence on January 10, 2024, the couple faces allegations involving a sum of N2.7 billion.
Justice Mojisola Dada of the Special Offences Court in Ikeja, Lagos, scheduled the trial after the Idowus were arraigned by the Lagos Zonal Command of the EFCC on November 28, 2023.
They face 20-count charges encompassing obtaining money by false pretence, money laundering, stealing, retention of stolen property, and forgery.
The EFCC’s statement emailed to The Trent on Tuesday, December 20, 2023, revealed that the couple, along with several companies owned by Ruth Idowu – Food Commodity Processing Enterprise, Bonway Food Processing Company Limited, Samee Idowu Company Limited, and Farmex Integrated Companies Limited – were involved in these criminal activities.
One of the counts accuses the defendants of converting N10 million for a GLK Benz purchase, derived from an illegal conversion of N500 million belonging to Creditpro Business Support Services.
Another count alleges the retention of N936,619,876 in a UBA bank account, known to be fraudulently obtained from the same company.
In their initial court appearance, the Idowus pleaded not guilty to all charges. The court adjourned until December 15, 2023, for the hearing of their bail applications.
During the proceedings on December 15, James Alara, representing Ruth Idowu, sought to replace an earlier bail motion with a new one, citing the need to include his client’s medical reports. EFCC’s counsel, Bilikisu Buhari, noted that the prosecution had responded to the initial application and had only recently received the new one. Buhari emphasized the necessity to authenticate the attached medical reports.
Alara requested a short adjournment to allow the court to consider his client’s new bail application, citing health concerns. Babatunde Ogala (SAN), representing Oriyomi Idowu, also moved a bail application, urging the court to grant bail on liberal terms, highlighting his client’s clean criminal record and compliance during the EFCC’s investigation.
Buhari, in response, argued that bail is subject to the court’s discretion and requested conditions ensuring the defendants’ court appearance.
Justice Dada granted bail to Oriyomi Idowu in the sum of N250 million with two sureties and conditions, including gainful employment of the sureties and a lien on their bank accounts. The defendant is also required to surrender his international passport.
The court adjourned till December 20, 2023, for the hearing of Ruth Idowu’s bail application and set the trial dates for January 10 and February 2, 2024.
