The Federal High Court sitting in Ikoyi, Lagos State presided over by Justice Musa Kakaki, has dismissed an application filed by businesswoman, Aminah Momoh-Orimoloye, seeking her release from the custody of the Economic and Financial Crimes Commission over an allegation of N500 million fraud.
The EFCC Head of Media and Publicity, Dele Oyewale, made this disclosure t through a statement issued in Abuja on Tuesday.
Oyewale stated in the statement that that Momoh-Orimoloye, a British citizen and coordinator of the Economic Empowerment of Women and Youth in Livestock Agriculture, was arrested on August 5, 2025 following a petition alleging conspiracy and diversion of funds.
The petitioner claimed he was engaged by his clients for a foreign exchange transaction worth ₦1.663 billion but had exceeded his daily transfer limit after which he contacted his friend, Abdullahi Muhammed, to use his account for the transaction.
The sum of ₦1.663 billion was reportedly paid into Muhammed’s account. However, when the petitioner requested the transfer of the full amount, Muhammed allegedly returned only ₦1.163 billion and has since failed to account for the outstanding ₦500 million.
Preliminary investigations indicated that Momoh-Orimoloye, Muhammed, Auwal Ali and others at large allegedly conspired to divert the ₦500 million balance.
Through her counsel, Abimbola Akeredolu, (SAN), Momoh-Orimoloye urged the court to order her release, arguing that her detention violated her fundamental rights. She also claimed that the bail conditions imposed by the EFCC were excessive.
However, in a 29-paragraph counter-affidavit deposed to by investigator John Justice, the EFCC urged the court to dismiss the application for lack of merit.
Moving the application, EFCC counsel S. I. Suleiman, argued that the suspect presented questionable sureties and attempted to mislead investigators.
“Upon granting the applicant bail, in line with the rule of law, the EFCC obtained a valid remand warrant to enable it to keep her in custody pending the provision of reliable sureties to fulfil the conditions of her administrative bail.”
Suleiman added that one of the sureties, Aliu John, admitted under interview that he had been approached to falsely claim to EFCC officers that he was a relative of the suspect.
He also stressed that Momoh-Orimoloye posed a flight risk, given her foreign residency.
Justice Kakaki, in his ruling, dismissed the application, noting that the EFCC had already granted administrative bail but that the suspect had failed to provide credible sureties as required by law.
The judge held that her inability to meet bail conditions could not be construed as a violation of her rights.
“Having been granted bail, what the applicant ought to do is fulfil the bail terms,” Justice Kakaki ruled.
