Justice Ismail Ijelu of the Lagos State High Court sitting in Ikeja has convicted and sentenced Olumuyiwa Teniola Idowu and his company, Tennyvans Nigeria Limited, to a combined 30 years imprisonment over fraud involving $62,500 and €36,020.
The conviction, delivered on Monday, March 30, 2026, followed a six-count charge bordering on stealing and failure to declare assets, contrary to Section 285 of the Criminal Law of Lagos State, 2011, and Section 27(3) of the EFCC Act, 2004.
According to the charges, Idowu and his company, sometime in 2012, dishonestly converted $62,500 meant for the purchase of Caterpillar parts belonging to Rene Theodorous Johannes Brouwers of Brouwers USA Trucks and Parts. In a separate count, they were also found to have diverted €36,020 meant for the purchase and shipment of a DAF truck, box trailer, and two tippers belonging to the same complainant.
The defendant was first arraigned on November 27, 2024, and pleaded not guilty, leading to a full trial. During proceedings, the prosecution, led by E. S. Okongwu, called three witnesses and tendered eleven exhibits, all admitted in evidence, while the defence, represented by Kehinde Olawumi, called one witness.
In his judgment, Justice Ijelu held that the prosecution proved its case beyond reasonable doubt and found the defendant guilty on all counts.
He was sentenced to five years imprisonment on counts one to four, to run concurrently. On counts five and six, he received five years imprisonment each, with an option of a N1 million fine per count, payable within six months or to serve the sentences.
The court also ordered the convict to restitute the sums of $62,500 and €36,020 to the complainant within six months.
Following the judgment, Idowu was remanded at the Ikoyi Correctional Centre.