Court fixes January for commencement of alleged N2.7bn fraud against Lagos couple

Friday Omosola Metro 19/12/2023

A couple, Oriyomi Idowu and Ruth Idowu, facing charges from the Lagos Zonal Command of the Economic and Financial Crimes Commission (EFCC), will undergo trial starting on January 10, 2024.

Justice Mojisola Dada of the Special Offences Court in Ikeja, Lagos State, set the commencement date.

The couple, arraigned on Tuesday, November 28, 2023, faces 20-count charges including obtaining money by false pretence, money laundering, stealing, retention of stolen property, and forgery, amounting to N2,757,188,000.00.

They were arraigned together with Food Commodity Processing Enterprise, Bonway Food Processing Company Limited, Samee Idowu Company Limited, and Farmex Integrated Companies Limited, all of which are affiliated with Ruth Idowu.

The charges read: “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.”

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Another count reads: “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 same to be funds fraudulently obtained from Creditpro Business Support Services.”

The defendants entered pleas of not guilty to the charges, leading the court to adjourn until Friday, December 15, 2023, for the hearing of their bail applications.

During Friday’s proceedings, James Alara, representing Ruth, the first defendant, informed the court that he was retracting an earlier motion for his client’s bail and submitting a new one to incorporate medical reports on her health.

In response, EFCC counsel Bilikisu Buhari stated that the prosecution had already addressed the withdrawn application, receiving the new one only on December 11, 2023.

“We responded to the one they are withdrawing. But they brought to us the new one on December 11, 2023. We intend to respond to the first defendant’s new bail application,” she said.

She elaborated that the prosecution must verify the medical reports accompanying the new bail application. Subsequently, Alara requested a brief adjournment for the court to consider his client’s new bail application, citing the health condition of the first defendant.

In turn, Babatunde Ogala, SAN, Oriyomi’s counsel and the second defendant, presented the bail application for his client.

“We urge the court to discountenance the counter-affidavit of the prosecution, and grant bail to the defendant on liberal terms, as the defendant has no criminal records and has never been charged before now; he will not interfere with the case,” he said.

He contended that his client received administrative bail from the EFCC during the investigation, emphasizing that he didn’t violate the granted bail and demonstrated no risk of fleeing.

In response, Buhari submitted a 15-paragraph counter-affidavit, asserting that bail rests with the court’s discretion. He requested terms ensuring the defendant’s court appearance.

Justice Dada, ruling on the second defendant’s bail application, granted bail at N250 million with two sureties, each demonstrating gainful employment and consenting to a lien on their bank accounts. The defendant must also surrender his international passport to the Chief Registrar.

Subsequently, Justice Dada adjourned the bail hearing for the first defendant to December 20, 2023, and set trial dates for January 10 and February 2, 2024.