- Court Adjourns Trial of Businesswoman Accused of Stealing N2.9 Billion
- Ruth was arraigned on a five-count charge
- The court adjourned the matter to a latter date
The Federal High Court in Lagos has adjourned the trial of businesswoman Iwegue Ijeoma Ruth, who faces allegations of stealing N2.9 billion from the financial portals of Merchant of Flutterwave Technologies Solutions Limited.
Eko Hot Blog reports that Ruth was arraigned by the office of the Inspector General of Police on a five-count charge involving conspiracy, theft, fraudulent conversion, and advance fee fraud.
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According to the charge sheet, Ruth and an accomplice who is currently at large allegedly accessed the company’s financial portals without authorisation between February 5 and 7, 2023. They are accused of transferring N2,949,557,867.80 fraudulently to multiple accounts belonging to her associates.
Investigators also claim that Ruth later received N821,383,600 into two personal accounts, 540154325 and 5400831481, knowing the funds were proceeds of unlawful activity.
The prosecution stated that the offences violate Sections 1, 7(1)(2), and 8(a) of the Advance Fee Fraud and Other Fraud Related Offences Act, 2016.
The court, presided over by a Justice of the Federal High Court, adjourned the matter to November 4, 2025, for the continuation of the trial.
