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$62,500 and €36,020 Fraud: Man Bags 30 Years’ Imprisonment in Lagos

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Justice Ismail Ijelu of the Lagos State High Court, sitting in Ikeja, Lagos, on Monday, March 30, 2026, convicted and sentenced Olumuyiwa Teniola Idowu and his company, Tennyvans Nigeria Limited, to a total of 30 years’ imprisonment on a six-count charge bordering on stealing and failure to declare assets amounting to $62,500 (Sixty-Two Thousand Five Hundred United States Dollars) and €36,020 (Thirty-Six Thousand Twenty Euros).

The offences contravene Section 285 of the Criminal Law of Lagos State, 2011, as well as Section 27(3) of the Economic and Financial Crimes Commission (EFCC) Act, 2004, relating to non-disclosure of assets and refusal to declare properties.

One of the counts reads:
“Olumuyiwa Teniola Idowu and Tennyvans Nigeria Limited, sometime in 2012 at Lagos within the jurisdiction of this Honourable Court, dishonestly converted to your own use the sum of $62,500 (Sixty-Two Thousand Five Hundred United States Dollars), being the cost of Caterpillar parts, property of Rene Theodorous Johannes Brouwers of Brouwers USA Trucks and Parts.”

Another count reads:
“Olumuyiwa Teniola Idowu and Tennyvans Nigeria Limited, sometime in 2012 at Lagos within the jurisdiction of this Honourable Court, dishonestly converted to your own use the sum of €36,020 (Thirty-Six Thousand Twenty Euros), being the cost and shipping of a DAF truck, box trailer, and two (2) tippers, property of Rene Theodorous Johannes Brouwers of Brouwers USA Trucks and Parts B.V.”

Idowu was first arraigned on November 27, 2024, where he pleaded not guilty, prompting a full trial.

During the trial, prosecuting counsel, E. S. Okongwu, called three witnesses and tendered eleven exhibits, all of which were admitted by the court. The defence counsel, Kehinde Olawumi, called one witness.

In his judgment, Justice Ijelu held that the prosecution proved its case beyond reasonable doubt and consequently found the defendant guilty as charged.

The court sentenced him to five years’ imprisonment on counts one to four, to run concurrently. He was also sentenced to five years’ imprisonment on counts five and six, with an option of a fine of ₦1 million on each count, to be paid within six months or, in default, serve the custodial sentences.

Additionally, the court ordered restitution of $62,500 and €36,020 to the nominal complainant within six months.

The convict was thereafter remanded at the Ikoyi Correctional Centre.

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EFCC

EFCC Uncovers Chinese-Operated Illegal Oil Refinery in Ogun

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The Economic and Financial Crimes Commission (EFCC) has uncovered an illegal oil refinery allegedly operated by Chinese nationals in the Ogere area of Ogun State.

The operation, conducted on Saturday, October 31, 2026, by operatives of the EFCC’s Lagos Zonal Directorate 2, followed credible intelligence and surveillance by the Commission into the activities of illegal sludge oil refiners.

The refinery was deserted when EFCC operatives stormed the premises, following the Commission’s earlier clampdown on four illegal lithium processing plants in the area.

However, waste products from the refining process were discovered at the site.

During the raid, operatives also discovered underground tanks believed to have been used for heating and processing sludge oil.

Two of the tanks inspected contained substances suspected to be Automotive Gas Oil (AGO), commonly known as diesel.

Preliminary investigations revealed that the operators sourced sludge oil, also known as black sludge, from Warri, Delta State, and Port Harcourt, Rivers State, and transported it to the illegal facility in Ogere for processing.

Further investigations indicated that the operators subjected the sludge oil to intense heat, allowing lighter petroleum components to pass through a series of chambers and filters in a process believed to produce Automotive Gas Oil (AGO) for sale in the Nigerian market.

Security personnel at the facility reportedly told EFCC operatives that the Chinese operators had neither disclosed their identities nor identified the company behind the facility.

Consequently, operatives of the EFCC’s Lagos Zonal Directorate 2 have taken over the premises as investigations continue to establish the identities of the operators, determine ownership of the facility and ascertain the full extent of the suspected illegal activities and economic sabotage.

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EFCC

EFCC Counsel Misquoted in ALGON Lawyer’s Fraud Allegation Judgment

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The Economic and Financial Crimes Commission (EFCC) views with grave concern the misrepresentation of the reaction of its counsel, Larry Peters Aso, to the judgment delivered by Justice Suleiman Belgore of the Federal Capital Territory (FCT) High Court in a fundamental rights enforcement suit filed by legal practitioner Dr Ted Iseghoi-Edwards.

The judge reportedly cleared Iseghoi-Edwards of alleged fraud relating to services rendered to the nation’s 774 local government councils. He also disagreed with the EFCC’s position regarding its investigation report on the London-Paris Club refunds.

Reacting to the judgment, Aso thanked the judge for his industry in attending to the matter and stated that the EFCC would apply for a Certified True Copy (CTC) of the judgment “and study it to know the necessary steps to take.”

He did not make any statement about an EFCC report from 2024 concerning allegations that Iseghoi-Edwards “fraudulently obtained the judgments, because he instituted proceedings against the Federal Government in the United States.”

Additionally, claims that Aso said the report was prepared under pressure from higher authorities “after Iseghoi-Edwards assigned his promissory notes to third parties in the United States, where they threatened to sue the Federal Government” are entirely mischievous and amount to deliberate character assassination.

This framing was intended to insinuate that extraneous influences affected the matter, which was not the case.

The record of proceedings from Tuesday, October 20, 2026, when the judgment was delivered, can be accessed to verify Aso’s reaction.

The Commission urges the media to be more objective in reporting court proceedings in the interest of justice.

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EFCC

FBI Commends Olukoyede, EFCC for Support in Tackling Sextortion, Cybercrime

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The Federal Bureau of Investigation (FBI) has commended the Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, and the Commission for their efforts and vital role in Operation Artemis, a joint international effort to disrupt financially motivated sextortion networks targeting minors.

The commendation was conveyed in a letter signed by FBI Director Kash Patel, who praised the Commission for its collaboration with the Bureau in the arrest and extradition of suspects facing federal charges in the United States.

In the letter addressed to Olukoyede, Patel acknowledged the Commission’s contribution to the operation, stating that “the Economic and Financial Crimes Commission, EFCC, has played a vital role in Operation Artemis, a joint effort focused on disrupting financially motivated sextortion rings targeting juveniles.”

He said that, under Olukoyede’s leadership, the EFCC designated personnel to support the investigations and facilitate the transfer of suspects from Nigeria to face prosecution in the United States.

Specifically, the FBI Director commended the EFCC for apprehending Adebola Festus Adekunle and Mudashiru Afeez Olawale, who were indicted in the United States in 2023 over allegations relating to the sexual exploitation and extortion of minors.

The two suspects were extradited to the United States in August 2026, with the EFCC facilitating the process following investigations and extradition proceedings. They are facing federal charges relating to sexual exploitation in cases involving the deaths of minors.

Patel noted that the successful outcome of the cases would not have been possible without the EFCC’s assistance and commitment to international law enforcement cooperation.

“The successful outcome of these cases would not have been possible without your assistance and dedication to international law enforcement collaboration,” he said.

The FBI Director further expressed appreciation to Olukoyede and the Commission for their commitment to justice and continued cooperation, while expressing optimism about strengthening the partnership between both agencies.

“Please accept my sincere appreciation for your commitment to justice and steadfast cooperation. I look forward to the continued partnership with the EFCC,” he stated in the letter.

The extradition of Adekunle and Olawale followed FBI investigations into separate sextortion schemes targeting male minors in the United States. The investigations linked the alleged activities to two teenage victims who died by suicide after being subjected to online sexual exploitation and extortion.

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