The Economic and Financial Crimes Commission (EFCC) has secured the conviction and sentencing of Olumuyiwa Teniola Idowu to a total of 30 years imprisonment over fraud involving $62,500 and €36,020.
Delivering judgment on Monday, Justice Ismail Ijelu of the Lagos State High Court sitting in Ikeja found Idowu and his company, Tennyvans Nigeria Limited, guilty on a six-count charge bordering on stealing and failure to declare assets.
According to the EFCC, the offences violated provisions of the Criminal Law of Lagos State, 2011, and the EFCC Act, 2004, particularly on non-disclosure of assets and refusal to declare properties.
One of the charges stated: “Olumuyiwa Teniola Idowu and Tennyvams Nigeria Limited sometimes in 2012 at Lagos… dishonestly converted to your own use the sum of $62,500… property of Rene Theodorous Johannes Brouwers of Brouwers USA Trucks and Parts.”
Another count read: “Olumuyiwa Teniola Idowu and Tennyvams Nigeria Limited… dishonestly converted to your own use the sum of €36,020… being the cost and shipping of DAF Truck, Box trailer and two (2) tippers…”
The defendant was first arraigned on November 27, 2024, where he pleaded not guilty, leading to a full trial.
During proceedings, the prosecution, led by E. S. Okongwu, presented three witnesses and tendered eleven exhibits, all admitted by the court, while the defence called one witness.
In his ruling, Justice Ijelu held that the prosecution proved its case beyond reasonable doubt and found the defendant guilty as charged.
The court sentenced Idowu to five years imprisonment on counts one to four, to run concurrently.
He was also handed five years imprisonment on counts five and six, with an option of a fine of N1 million on each count to be paid within six months or serve the jail terms.
The court further ordered the convict to make restitution of $62,500 and €36,020 to the complainant within six months.
Following the judgment, Idowu was remanded at the Ikoyi Correctional Centre.