A Lagos State High Court sitting in Ikeja has sentenced Olumuyiwa Teniola Idowu and his firm, Tennyvans Nigeria Limited, to a total of 30 years imprisonment over fraud involving $62,500 and €36,020.
Delivering judgment on Monday, March 30, 2026, Justice Ismail Ijelu found the defendant guilty on a six-count charge bordering on stealing and failure to declare assets, in violation of the Criminal Law of Lagos State, 2011, and the Economic and Financial Crimes Commission (EFCC) Act, 2004.
The court heard that Idowu fraudulently converted $62,500 meant for the purchase of caterpillar parts belonging to Rene Theodorous Johannes Brouwers of Brouwers USA Trucks and Parts. He was 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.
Idowu 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, presented three witnesses and eleven exhibits, while the defence called one witness.
In his ruling, Justice Ijelu held that the prosecution successfully proved its case beyond reasonable doubt and convicted the defendant on all counts.
The court sentenced him to five years imprisonment on counts one to four, to run concurrently, and an additional five years each on counts five and six, with an option of a N1 million fine per count payable within six months.
The judge 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.
