Justice Mojisola Dada of the Ikeja Special Offences Court has granted bail in the sum of N250 million to businessman Oriyomi Idowu. However, the bail hearing for his wife, Ruth, also charged in the N2.7 billion fraud case, has been adjourned until December 20.
The couple faces a 20-count charge, including obtaining money by false pretences, money laundering, stealing, retention of stolen property, and forgery. Having pleaded not guilty to the charges on November 28, the court ruled in favor of Oriyomi Idowu’s bail application, stipulating the bail amount and conditions.
According to Justice Dada, Idowu must provide two sureties in like sum, demonstrate gainful employment, and allow a lien placed on their bank accounts. Additionally, he is required to deposit his International Passport with the Chief Registrar of the Court. Trial proceedings have been adjourned until January 10, 2024.
Earlier, Mr James Alara, the defence counsel for Oriyomi Idowu, withdrew the initial bail motion and submitted a new application, incorporating medical reports on Ruth Idowu’s health status.
The prosecution, represented by Mrs Bilikisu Buhari of the EFCC, requested time to authenticate the medical reports attached to the new bail application.
“We responded to the one they are withdrawing and brought to us the new one on Dec. 11. We intend to respond to the first defendant’s new bail application. My lord, the prosecution needs to authenticate the said medical reports attached to the new bail application,” she said.
Furthermore, Mr Babatunde Ogala (SAN), counsel to the second defendant, urged the court to grant bail to his client on liberal terms, emphasizing the lack of a criminal record or previous charges. The prosecution acknowledged the court’s discretion in granting bail and requested terms that would ensure the defendants’ appearance in court.
“The defendant was granted administrative bail by the EFCC during investigations and he never jumped bail granted him by the commission. The defendant has shown that he is not a flight risk and he will not interfere with the case,” he said.
According to the charge sheet, the prosecution alleged the defendants to have dishonestly retained the sum of N936.6 million in their UBA’s account, property of Creditpro Business Support services, knowing same to be funds fraudulently obtained from Creditpro.
The prosecutor also submitted that the defendants allegedly converted the sum of N10 million to purchase a GLK Benz, a purchase sum derived from converting the sum of N500 million belonging to Creditpro Business Support Services to conceal the source of the funds.
The defendants, who were also alleged to have conspired among themselves with intent to defraud, claimed to have a genuine Local Purchase Order (LPO) from various vendors and obtained the sum of N2.757 billion from the complainant, for themselves.
The defendants, along with firms owned by Ruth Idowu, face allegations of retaining funds obtained from Creditpro Business Support Services and converting sums of money for personal use. The charges levelled against them contravene Sections 1(1)(a), 8 of the Advance Fee Fraud and Other Related Offences Act, 2006, and 278(2), 328, 331, 332, and 365 of the Criminal Laws of Lagos State, 2011.
(NAN)