Court Grant N250m Bail to Businessman

 Justice Mojisola Dada of the Special Offences Court sitting in Ikeja, Lagos has granted bail to a businessman, Oriyomi Idowu, in the sum of N250 million, as 20 December, was reserved for hearing of the bail application of his wife, Ruth Idowu.

The couple are facing 20 counts 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).

The Economic and Financial Crimes Commission, EFCC, arraigned them on Tuesday, November 28, 2023, 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.

They had pleaded "not guilty" to the charges, prompting the court to adjourn till today, December 15, 2023, for hearing of their bail applications.

At today's proceedings, James Alara, counsel for the wife, informed the court that he was withdrawing the earlier motion for the bail of his client, and replacing it with a new one, "due to the need to include the medical reports on the health status of the first defendant".

Counsel for the EFCC, Bilikisu Buhari, however, responded that the prosecution had earlier replied to the application being withdrawn, and only received the new application on the 11th of December 2023.

She explained further that the prosecution needed to authenticate the said medical reports attached to the new bail application.

Alara, after that, prayed the court for a short adjournment for the court to hear the new bail application of his client, "because of the health of the first defendant".

On his part, Babatunde Ogala, SAN, counsel for the husband who is 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, as the defendant has no criminal records and has never been charged before now, and he will not interfere with the case," he said.

He further argued that his client was granted administrative bail by the EFCC during investigations and "he never jumped bail granted him by the EFCC, and 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, and if the court is so inclined, we pray for terms that will ensure appearance in court".

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, who 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.

Thereafter, Justice Dada adjourned till December 20, 2023 "for bail hearing of the first defendant", and further adjourned the trial till January 10 and February 2, 2024.

Count one of the charges 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 between 31st of March 2022 and 17th of May 2023 in Lagos within the Jurisdiction of this Honourable Court, conspired amongst yourselves by the false pretense 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).