EFCC arraigns Lagos couple for alleged N2.7 billion fraud

Oriyomi and Ruth Idowu were charged with 20 counts 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.

The allegations centre on forgery totalling N2.7 billion, money laundering, stealing, keeping stolen property, and obtaining money under false pretences.

Food Commodity Processing Enterprise, Bonway Food Processing Company Limited, Samee Idowu Company Limited, and Farmex Integrated Companies Limited—all owned by Ruth Idowu—were also arraigned with them.

One of the counts 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, 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.”

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 fund fraudulently obtained 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 remand the defendants to a correctional 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 application could be heard, he prayed for the court to remand the defendants in the EFCC's custody.

Ms. Buhari told the court in her objection that the EFCC's holding 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 ordered that the defendants be remanded at the correctional facility "pending hearing and determination of their bail applications" and postponed the case until December 15th.

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