The Federal High Court in Lagos has again shifted the trial of Iwegue Ijeoma Ruth, a Lagos-based businesswoman accused of orchestrating a jaw-dropping N2.9 billion heist from Flutterwave Technologies Solutions Limited.
Ruth, standing before the court on a five-count charge, is accused of conspiracy, theft, fraudulent conversion, and advance fee fraud. The charges were brought forward by the office of the Inspector General of Police.
According to court filings, Ruth and an accomplice still at large allegedly broke into Flutterwave’s financial system between 5 and 7 February 2023. In those 72 hours, investigators claim, she funnelled a staggering ₦2,949,557,867.80 into multiple accounts linked to her associates.
Detectives further alleged that Ruth pocketed ₦821,383,600 into two personal accounts, numbers 540154325 and 5400831481, fully aware the money was illicit.
The prosecution insisted the offences violated Sections 1, 7(1)(2), and 8(a) of the Advance Fee Fraud and Other Fraud Related Offences Act of 2016.
The trial, which has attracted public attention due to the scale of the alleged fraud, has now been adjourned to 4 November 2025.
