EFCC arrest couple for N2.7bn fraud

The Lagos Zonal Command of the Economic and Financial Crimes Commission (EFCC) brought

Oriyomi Idowu and Ruth Idowu before Justice Mojisola Dada of the Special Offences Court in Ikeja, Lagos, on Tuesday, November 28, 2023. The couple faces 20 charges, including obtaining money by false pretenses, money laundering, stealing, retention of stolen property, and forgery, amounting to N2.7 billion.

The commission stated that the suspects were arraigned alongside entities belonging to Ruth Idowu, namely Food Commodity Processing Enterprise, Bonway Food Processing Company Limited, Samee Idowu Company Limited, and Farmex Integrated Companies Limited.

One of the counts alleges, “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.”

The defendants entered a plea of "not guilty" to the charges.

Upon their pleas, the prosecution counsel, Bilikisu Buhari, requested a trial date and the remand of the defendants at a Correctional Facility.

G. Onwubuya, counsel for the first defendant, informed the court about the pending bail application and requested the defendants be remanded in EFCC custody, seeking a short adjournment for the hearing of the bail application.

Justice Dada noted the absence of a bail application for the second defendant, and the counsel, J.J. Ogunyemi, had not filed one.

Consequently, Justice Dada adjourned the matter until December 15, 2023, ordering the defendants to be remanded at the Correctional Centre "pending the hearing and determination of their bail applications