Man Sentenced to 30 Years for $62,500 Fraud in Lagos

On March 30, 2026, Justice Ismail Ijelu of the Lagos State High Court in Ikeja sentenced Olumuyiwa Teniola Idowu to a total of 30 years in prison for fraud involving $62,500 and €36,020. Idowu, representing Tennyvan Nigeria Limited, faced six counts related to the failure to declare assets and the dishonest conversion of property.

The offenses contravened Section 285 of the Criminal Law of Lagos State 2011 and Section 27(3) of the Economic and Financial Crimes Commission (EFCC) Act 2004. The fraudulent activities occurred in 2012, where Idowu converted funds for Caterpillar parts and a Daf truck box trailer.

He was first arraigned on November 27, 2024, and pleaded not guilty, leading to a full trial. The prosecution presented three witnesses and eleven exhibits, which the court admitted.

Justice Ijelu found the prosecution proved its case beyond a reasonable doubt, resulting in a five-year concurrent sentence for counts four to six, with an option for a fine of N1 million per count. Additionally, Idowu was ordered to restitute the amounts to the complainant within six months.