Lagos businesswoman docked for allegedly stealing N2.9bn from Flutterwave platform
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Ruth was arraigned before the court on a five-count charge bordering on conspiracy, stealing, fraudulent conversion, and advance fee fraud by the Police.
By Akin Kuponiyi
A Federal High Court sitting in Lagos has adjourned the trial of businesswoman Iwegue Ijeoma Ruth for allegedly stealing the sum of N2.9 billion from the financial portals of Merchant of Flutterwave Technologies Solution Limited.
Ruth was arraigned before the court on a five-count charge bordering on conspiracy, stealing, fraudulent conversion, and advance fee fraud by the Inspector General of Police.
In the five count charge filed before the court, police alleged that Ruth and one other at large, on the 5th till 7th day of February 2023 unlawfully logged into the financial portals of Merchant of Flutterware Technologies Solution Limited, and fraudulently transferred out the sum of Two Billion, Nine Hundred and Forty Nine Million, Five Hundred and Fifty Seven Thousand, Eight Hundred and Sixty Seven Naira Eighty Kobo (N2,949,557,867,80K) to several of her cohorts accounts
It was further alleged that Ruth later unlawfully received the total sum of eight hundred and twenty one million, three hundred and eighty three thousand, six hundred and ninety kobo transferred into her accounts numbers; 540154325, 5400831481 respectively, property of Merchant Flutterwave Technologies Solutions Ltd, knowing same to be proceeds of crime.
The offences alleged to have been committed by the defendant are contrary to and punishable under sections 1,7(1) (2),8(a) of the advanced fee fraud and other related offences Act 2016.
The court adjourned the trial till 4th of November, 2025.
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