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EFCC PRESENTS FIRST WITNESS AGAINST COUPLE IN ALLEGED N2.7BN FRAUD TRIAL IN LAGOS

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The Economic and Financial Crimes Commission, EFCC, on Friday, February 2, 2024, presented its first prosecution witness, PW1, Chibueze Chukwuma, Team Lead, Regulatory Enquiries Unit, Access Bank, against a couple, Ruth Idowu and Oriyomi Idowu, who are being prosecuted for an alleged N2.7bn fraud before Justice Mojisola Dada of the Special Offences Court sitting in Ikeja, Lagos.

The defendants are facing 20-count charges bordering 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 Thousand Naira Only).

They were arraigned on Tuesday, November 28, 2023 by the Lagos Zonal Command of the EFCC 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.

Count one reads: “Ruth Sameeha Idowu, a.k.a. Loiry Ventures, Oriyomi Kabeer Idowu, a.k.a. Yocli Ventures, Food Commodity Processing Enterprise, Bonway Food Processing Company Ltd., Samee Idowu Company Limited, Farmex Integrated Companies Limited, between 31st of March 2022 and 17th of May 2023 in Lagos, within the jurisdiction of this Honourable Court, conspired amongst yourselves by a false pretence that you had a genuine Local Purchase Order (LPO) from various vendors and with intent to defraud, obtained from Creditpro Business Support Services Ltd the sum of N2,757,188,000.00 ((Two Billion, Seven Hundred and Fifty Seven Million, One Hundred and Eighty-eight Thousand Naira Only).”

Another count reads: “Ruth Sameeha Idowu, a.k.a. Loiry Ventures, Oriyomi Kabeer Idowu, a.k.a. 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.”

At Friday’s proceedings, Chukwuma narrated how the EFCC, in the course of investigating the defendants, had written to the bank to furnish it with some documents.

Led in evidence by prosecution counsel, A.O.Muhammed, the PW1 said his Unit was in charge of dealing with requests from law enforcement agencies and responding to them accordingly.

“I know Loiry Ventures, Yocli Ventures. They are our customers. We got a letter of inquiry from the EFCC, requesting their account opening packages and statements of account; and we responded accordingly,” he said. He, thereafter, identified the letter of inquiry which the EFCC sent to the bank with regard to the investigations.

He also identified the response of the bank, which included the account opening packages and their bank account statements. Thereafter, Muhammed applied to tender them in evidence against the defendants.

There was no objection from James Alara, counsel for the first, third, fourth, fifth and sixth defendants; and Babatunde Ogala, SAN, counsel for the second defendant.

Justice Dada admitted the bundle of documents in evidence as Exhibit P.

Testifying further, he identified the first defendant as the signatory to Food Commodity Processing Enterprise. “For Yocli Ventures, the signatory is Oriyomi Kabeer Idowu(second defendant); and for Loiry Ventures, he is also the sole signatory,” he said.

He was, thereafter, taken through the bank statements of Food Commodity Processing Enterprise as he highlighted several inflows from Creditpro Business Support Services, which were subsequently transferred to the companies where the defendants were signatories.
Under cross-examination by Ogala and Alara, he maintained that the defendants were signatories to the accounts, where the money was transferred to at various times.

After the testimonies of PW1, Justice Dada adjourned the matter till March 20, 21 and 22, 2024 for continuation of trial.

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House Of Rep’s Member, Alexander Ikwechegh Trial Begins November 8….

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A Kuje Magistrate Court has set November 8 for the trial of Alexander Ikwechegh, a House of Representatives member representing Abia State, after granting him N500,000 bail.

 

Ikwechegh, who was arraigned on Wednesday, before His Worship, Abubakar Umar Sai’id, for allegedly assaulting a Bolt driver, Stephen Abuwatseya, at his residence in Abuja, pleaded not guilty to the charges brought against him.

 

 

The Inspector General of Police, Kayode Egbetokun, arraigned Ikwechegh on three counts bordering on abuse of office, assault and threat to life.

 

 

After taking his plea, the lawmaker’s counsel proceeded to make an oral application for bail, which was granted by the court.

 

The magistrate said, “The court will grant the defendant a bail set at N500,000, with two sureties in like sum. The sureties must reside within the court’s jurisdiction and provide utility bills as proof of residence.”

 

 

The court proceeded to adjourn the hearing in the matter till November 8.

 

A video of Ikwechegh allegedly assaulting the Bolt driver had gone viral on social media on Monday.

 

In the video, Ikwechegh can be seen repeatedly slapping the driver.

 

Aside from the slaps, the lawmaker can be heard threatening the driver and assuring him of how he can make him disappear without a trace.

 

Meanwhile, a civil society organisation, Rule of Law and Accountability Advocacy Centre, in a statement, on Wednesday, condemned Ikwechegh’s action and described it as “a glaring example of abuse of power” most common with politicians.

 

 

The statement signed by RULAAC’s Executive Director, Okechukwu Nwanguma, said the lawmaker’s action was a shame not only on him but also on every member of the House of Representatives.

 

 

He stated, “The recent incident involving a federal lawmaker, Alex Ikwecheghi’s brutal treatment of Uber driver, Mr Stephen Abuwatseya, is a glaring example of the abuse of power that permeates Nigeria’s political landscape.

 

 

Ikwechegh’s actions, including verbal and physical assault, as well as intimidation of the victim, reveal a profound lack of humility and respect for the rights of others that should be expected from someone in a public office.

 

“This incident not only shames Ikwechegh but also reflects poorly on the House of Representatives, the police, and the broader political system.

 

 

The indiscriminate use of power to silence and control vulnerable citizens showcases a troubling trend among officials who seem to operate above the law.

 

The complacency of the police in this matter raises serious concerns about their integrity and commitment to justice, as they appear more willing to serve influential individuals than to uphold the rule of law.

 

“While the House of Representatives’ decision to investigate this behaviour is a positive step, it remains to be seen whether meaningful accountability will follow.

 

Historical precedents suggest a risk of sweeping the issue under the rug once public outrage subsides, which would do little to repair public trust in governance.”

 

 

Nwanguma noted that the societal implications of the incident were dire as it “transcends the individual and speaks to a culture of impunity that must be addressed,” imploring that justice must not only be served for Abuwatseya but also the many unnamed victims of similar abuses.

 

“This case must serve as a catalyst for change, leading to reforms that prioritise respect for human rights and the rule of law in Nigeria”, he stated.

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At Last: EFCC Arrests Atlantic International Refinery MD, Akintoye Akindele Over $35m Fraud….

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The Managing Director of Atlantic International Refinery and Petrochemical Limited, Akintoye Akindele, is currently being detained at the holding facilities of the Economic and Financial Crimes Commission in Abuja.

 

 

Akindele, it was gathered, was arrested by operatives of the commission over alleged misappropriation, money laundering and diversion of public funds to the tune of $35m.

 

According to sources in the commission, the Nigeria Content Development and Monitoring Board was said to have paid $35m to Akindele to build a 2,000 barrel-per-day refinery, jetty, gas plant, power plant, data centre and tank farm at Brass Free Trade Zone, Okpoama Community in Brass Local Government Area of Bayelsa State.

 

 

They added that after he received the money in December 2020, Akindele was accused of abandoning the projects.

 

 

One of the sources said, “Akindele, a promoter of the Energy Infrastructure Park financed by the Nigeria Content Development and Monitoring Board, in Okpoama community in Brass LGA of Bayelsa state, initially mooted the idea of the project to the board and the NCDMB embraced it with a counterpart funding to the tune of $35m.

 

“NCDMB allegedly paid $35m to Akindele to build a 2,000bpd refinery, jetty, gas plant, power plant, data centre and tank farm at Brass Free Trade Zone, Okpoama Community in Brass LGA of Bayelsa State.

 

 

Since December 2020 when the payments were made, Akindele allegedly abandoned the project with little or nothing to show for the huge sum paid to him.”

 

 

Another source said Akindele allegedly received the money through the Atlantic International Refinery and Petrochemical Limited and sent it to four of his companies.

 

 

The source said, “Akindele received the funds through the bank account of Atlantic International Refinery and Petrochemical Limited and funnelled the funds into four of his companies: Platform Capital Investment Partners, Duport Midstream Company Ltd., Puissance Afrique Dynamics Ltd, Adamantine Petrochemical & Refinery Ltd and Bureau de Change outlets.

 

 

The EFCC has been on a manhunt for him for several months until he finally showed up when he could no longer bear the fire on him. He was thereafter arrested and detained at the commission’s holding facility in Abuja.”

 

When contacted, the EFCC’s spokesperson, Dele Oyewale, confirmed Akindele’s arrest but declined further comments.

 

 

 

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Society

Just in: Sanwo-Olu’s aide, Abdulrahman Lekki Is Dead

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The Executive Secretary, Lagos State Scholarship Board, Mr Abdulrahman Lekki, is dead.

A terse statement from the office of the Lagos State Head of Service on Wednesday , said, “With the total submission to the will of Almighty Allah, the Head of Service announces the sudden demise of Mr. Abdulrahman Lekki, Executive Secretary, Lagos State Scholarship Board, which occurred in the early hours of today, 30th October, 2024, after a brief illness.

“May his soul rest in perfect peace. ”Funeral arrangements will be announced later.”

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