N2.7bn Fraud: Court Grants Businessman N250m Bail, Adjourns Wife Case

Businessman Oriyomi Idowu has been granted bail in the amount of N250 million by Judge Mojisola Dada of the Ikeja Special Offenses Court. The bail hearing for Ruth, his spouse who is also accused of N2.7 billion defraud , has been postponed to December 20.

The couple is accused with 20 counts, which include forgery, money laundering, stealing, keeping stolen goods, and getting money under false pretenses. On November 28, Oriyomi Idowu entered a not guilty plea to the allegations. The court granted her request for bail, setting the terms and amount of the release.

Justice Dada states that in addition to proving gainful employment and allowing a lien to be placed on their bank accounts, Idowu must also provide two sureties in like sum. In addition, he needs to give the Chief Registrar of the Court his International Passport. The date of the trial has been postponed until January 10, 2024.

Earlier, Oriyomi Idowu’s defense attorney, Mr. James Alara, withdrew the first bail request and filed a fresh application that included medical findings regarding Ruth Idowu’s condition.

The prosecution, through EFCC representative Mrs. Bilikisu Buhari, asked for more time to verify the medical reports that were attached to the updated bail plea.

 “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.