The Economic and Financial Crimes Commission (EFCC) on Tuesday disclosed that the trial of a Lagos state-based couple identified as Oriyomi Idowu and Ruth Idowu, over an alleged N2.7 billion fraud will commence in January.
The EFCC made this known in a statement after Justice Mojisola Dada of the Special Offences Court sitting in Ikeja, Lagos state fixed January 10, 2024 as commencement of the couple’s trial.
The Idowus were arraigned by the Lagos Zonal Command of the EFCC, on Tuesday, November 28, 2023, on 20-count charges.
These charges as revealed by the commission bordered on obtaining money by false pretence, money laundering, stealing, retention of stolen property and forgery to the tune of N2,757,188,000.00 (Two Billion, Seven Hundred and Fifty-Seven Million, One Hundred and Eighty-Eight Naira Only).
The EFCC said the two were arraigned alongside Food Commodity Processing Enterprise, Bonway Food Processing Company Limited, Samee Idowu Company Limited and Farmex Integrated Companies Limited, which all belong to Ruth Idowu.
“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,” one of the counts 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, 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,” another count read.
The defendants pleaded “not guilty” to the charges when they were read to them, thereby prompting the court to adjourn till Friday, December 15, 2023, for hearing of their bail applications.
The EFCC said at Friday’s proceedings, James Alara, counsel for Ruth, who is the first defendant, informed the court that he was withdrawing an earlier motion for the bail of his client, and replacing it with a new one.
“I am doing this due to the need to include the medical reports on the health status of the first defendant,” Alara told the court.
Counsel for the EFCC, Bilikisu Buhari, however, responded that the prosecution had earlier replied to the application being withdrawn and that it only received the new application 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,” Buhari said.
She explained further that the prosecution needed to authenticate the said medical reports attached to the new bail application.
Alara, in his response thereafter, prayed the court for a short adjournment in order for the court to hear the new bail application of his client.
“This is as a result of the health of the first defendant,” he said.
On his part, Babatunde Ogala (SAN) who is the counsel for Oriyomi, the second defendant, moved 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,” Ogala told the court.
“As you all are aware, the defendant has no criminal records and has never been charged before now. He will not interfere with the case.”
He further argued that his client was granted an administrative bail by the commission during the course of investigations and “he never jumped bail granted him by the EFCC, while he has shown that he is not a flight risk”.
Responding, Buhari moved the 15-paragraph counter-affidavit of the prosecution, adding that bail is at the discretion of the court.
“If the court is so inclined, we pray for terms that will ensure appearance in court,” Buhari said.
Ruling on the bail application of the second defendant, Justice Dada granted bail in the sum of N250 million, with two sureties in like sum.
Dada also ruled that the two sureties must show means of gainful employment and must agree to have a lien placed on their bank accounts.
The defendant was also ordered to deposit his International passport with the Chief Registrar of the court.
Justice Dada thereafter adjourned till December 20, 2023 “for bail hearing of the first defendant”, and further adjourned trial till January 10 and February 2, 2024.
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