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The Lagos State High Court in Ikeja has convicted Olumuyiwa Idowu and his company, Tennyvans Nigeria Limited, to five years’ imprisonment each for offences related to stealing and failure to declare assets.
The trial judge, Ismail Ijelu, on Monday, sentenced Mr Idowu to five years in prison after convicting him and his firm on six counts involving the conversion of $62,500 and €36,020.
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According to a statement shared with PREMIUM TIMES by the spokesperson for the Economic and Financial Crimes Commission (EFCC), Dele Oyewale, on Monday, one of the counts alleged that in 2012 in Lagos, Mr Idowu and his company of dishonestly converted $62,500, being payment for caterpillar parts belonging to Rene Theodorous Johannes Brouwers of Brouwers USA Trucks and Parts.
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In another count, the commission said the defendants converted €36,020, being the cost and shipping fees for a DAF truck, a box trailer, and two tippers belonging to the same complainant.
EFCC said the defendants’ offences contravened Section 285 of the Criminal Law of Lagos State, 2011 and Section 27(3) of the EFCC Act, 2004, which relates to non-disclosure of assets.
He was arraigned on 27 November 2024 and pleaded not guilty to all charges, leading to a full trial.
During the trial, the prosecution called three witnesses and tendered 11 exhibits, all of which were admitted by the court, while the defence called one witness.
Judgement
Delivering the judgement, Mr Ijelu held that the prosecution had proved its case beyond a reasonable doubt and found the defendants guilty on all counts.
The court sentenced Mr Idowu to five years’ imprisonment on counts one to four, to run concurrently. On counts five and six, the court imposed five years’ imprisonment each with an option of a N1 million fine per count, payable within six months, failing which the custodial sentences will apply.
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The court also ordered the restitution of $62,500 and €36,020 to the complainant within six months.
Following the judgement, Mr Idowu was remanded at the Ikoyi Correctional Centre.
The anti-graft agency is responsible for investigating financial crimes, and has in recent years intensified prosecutions of fraud-related offences in Lagos.
