A Lagos State High Court in Ikeja has sentenced Olumuyiwa Teniola Idowu and his company, Tennyvans Nigeria Limited, to a combined 30 years in prison for fraud involving $62,500 and €36,020.
The Economic and Financial Crimes Commission (EFCC) confirmed in a statement that Justice Ismail Ijelu delivered the judgment on Monday, March 30, 2026, finding the defendants guilty on six counts related to stealing and failure to declare assets.
The offences violated Section 285 of the Criminal Law of Lagos State, 2011, and Section 27(3) of the EFCC Act, 2004, which cover non-disclosure of assets and refusal to declare property.
According to the court, one 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 $62,500, being the cost of caterpillar parts, property of Rene Theodorous Johannes Brouwers of Brouwers USA Trucks and Parts.”
Another charge held that the defendants “dishonestly converted to your own use the sum of €36,020, being the cost and shipping of a DAF truck, box trailer and two 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 proceedings, the prosecution, led by E. S. Okongwu, called three witnesses and presented eleven exhibits, all admitted by the court. The defence, represented by Kehinde Olawumi, presented one witness.
Justice Ijelu ruled that the prosecution proved its case beyond reasonable doubt and found the defendants guilty as charged.
The court sentenced Idowu to five years’ imprisonment on counts one to four, to run concurrently, and five years on counts five and six, with an option to pay a fine of N1 million on each count within six months. Failure to pay would result in serving the custodial sentences.
The court also ordered that the sums of $62,500 and €36,020 be returned to the complainant within six months. Following the judgment, Idowu was remanded at Ikoyi Correctional Centre.
