GOV. SANWO-OLU IN LONDON SEEKS FOREIGN INVESTMENTS, PARTNERSHIPS.(PHOTOS). #PRESS RELEASE.

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SANWO-OLU IN LONDON SEEKS FOREIGN INVESTMENTS, PARTNERSHIPS   •Governor charges Commonwealth states to bring capital, technology, expertise to Lagos The Governor of Lagos State, Mr. Babajide Sanwo-Olu, on Monday charged the Commonwealth’s 56 member states to invest in Africa, particularly Lagos, by bringing their capital, technology and other expertise, promising that they will find not just market and opportunity but partner and relationship.   He said the Commonwealth's greatest advantage is not simply its shared language, shared laws or shared history but its people, noting that nowhere is that advantage more vivid, dynamic or consequential than in Africa.   Speaking as a Keynote Speaker at the opening ceremony of the Commonwealth Trade and Investment Summit held at Mansion House, London, on Monday, Governor Sanwo-Olu said Lagos is ready for partnerships and relationships with global investors.   The theme of the opening session is “The Commonwealth's Advantage". ...
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ALLEGED N2.7BN FRAUD: COURT ADJOURNS COUPLE'S TRIAL TILL FEBRUARY.(PHOTO).#PRESS RELEASE

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 Alleged N2.7bn Fraud: Court Adjourns Couple’s Trial Till February

 

Justice Mojisola Dada of the Special Offences Court sitting in Ikeja, on Wednesday, January 10, 2024, adjourned till February 2, 2024 the alleged N2.7bn fraud trial involving a couple, Ruth and Oriyomi  Idowu.


The couple was arraigned by the Lagos Zonal Command of the Economic and Financial Crimes Commission, EFCC,

on Tuesday November 28, 2023, on 20-count charges  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).


They were arraigned 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.


Count one 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 false pretence 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).


Another count 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, sometime in 2023 in Lagos, within the jurisdiction of this Honourable court, converted the sum of N10,000,000 to purchase a GLK Benz, purchase sum derived from converting the sum of N500,000,000 belonging to Creditpro Business Support Services with the aim of disguising the illegal origin of the funds."


At Wednesday’s proceedings, prosecution counsel, A.O. Mohammed, informed the court that his witness was unavoidably absent in court.


"Up until yesterday, the witness gave an indication of appearing in court. But yesterday, there was an unexpected change in the situation. I apologise to the court and to the defence," he said.


Responding, Babatunde Ogala, SAN, informed the court that he came prepared for the trial. He, however, added that “It was only this morning, while seated here, that I was informed that the witness is not here and that they are not ready to go on; and so, will seek an adjournment.”


The counsel to the first defendan ,James Alara also aligned with Ogala.  He further urged the court to take notice that the stalling of the proceedings was at the instance of the prosecution.


Apologising for the development, Mohammed prayed the court for a short adjournment.


Consequently, Justice Dada adjourned the case till February 2, 2024.

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