A Lagos State High Court sitting in Ikeja has convicted and sentenced Olumuyiwa Teniola Idowu and his company, Tennyvans Nigeria Limited, to a total of 30 years’ imprisonment over fraud involving $62,500 and €36,020.

In a statement by the EFCC, the judgment was delivered on Monday, March 30, 2026, by Justice Ismail Ijelu, who found the defendants guilty on a six-count charge bordering on stealing and failure to declare assets.

The offences were said to be in violation of Section 285 of the Criminal Law of Lagos State, 2011, and Section 27(3) of the Economic and Financial Crimes Commission (EFCC) Act, 2004, which deal with non-disclosure of assets and refusal to declare properties.

One of the charges presented in court stated:

“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 charge stated: “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 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.”

The defendant was first arraigned on November 27, 2024, where he pleaded not guilty, leading to a full trial.

During the proceedings, the prosecuting counsel, E. S. Okongwu, called three witnesses and presented 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 Idowu to five years’ imprisonment on counts one to four, to run concurrently. He was also handed five years’ imprisonment on counts five and six, with an option of a fine of N1 million on each count, to be paid within six months or serve the custodial sentences.

The court further ordered that the sum of $62,500 and €36,020 be returned to the nominal complainant within six months.

Following the judgment, the convict was remanded at the Ikoyi Correctional Centre.