Court Rejects Bail for UK-Based Businesswoman in Alleged ₦500 Million Fraud Case

Justice Musa Kakaki of the Federal High Court in Ikoyi, Lagos, on Monday, September 15, 2025, firmly dismissed an application for bail submitted by Aminah Momoh-Orimoloye, a UK citizen and prominent businesswoman. Aminah, who serves as the coordinator for the Economic Empowerment of Women and Youth in Livestock Agriculture (EEWYLA), had sought her release from the custody of the Economic and Financial Crimes Commission (EFCC) following allegations of fraud involving a significant sum of ₦500 million.

The businesswoman was arrested on August 5, 2025, subsequent to a petition alleging conspiracy and misappropriation of funds. According to investigations, Salihu Mohammed allegedly received ₦1.663 billion in a foreign exchange transaction from a client, of which ₦1.163 billion was accounted for. The remaining ₦500 million was reportedly diverted through a conspiracy involving Momoh-Orimoloye, Mohammed, Auwal Ali, and others who remain at large.

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The EFCC opposed the bail application vigorously, submitting a 29-paragraph counter-affidavit by one of its investigators, John Justice, which outlined the details of the case and emphasized the severity of the allegations. Justice Kakaki, after considering the submissions, ruled that Momoh-Orimoloye would remain in custody until she either meets bail conditions or until her trial proceeds.

Momoh-Orimoloye was served with a bail condition notice upon her arrest and voluntarily gave her extrajudicial statement. However, the court found the motion seeking her release lacking in merit, citing the serious nature of the charges and ongoing investigations.

This ruling ensures that the accused remains in EFCC custody amid ongoing inquiries into the alleged fraud, highlighting the judiciary’s firm stance on financial crimes of this magnitude.