EFCC Arraigns Ashley Segun Oshin Over Alleged £122,000 Investment Fraud

The Economic and Financial Crimes Commission (EFCC), Lagos Zonal Directorate 1, has arraigned a businessman, Ashley Segun Oshin, earlier than Justice Ismail O. Ijelu of the Lagos State High Court sitting in Ikeja, over an alleged One Hundred and Twenty-Two Thousand British Pounds Sterling, £122,000, funding fraud.

Oshin was arraigned on a one-count cost bordering on acquiring cash by false pretence, opposite to Section 1(3) of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006.

The cost reads:

“That you, Ashley Segun Oshin, between 2009 and 2010, with intent to defraud, induced Miss Oluwafemi Fajana and Mr. Abiodun Adeogun to deliver to you the aggregate sum of £122,000 (One Hundred and Twenty-Two Thousand British Pounds Sterling) by falsely representing to them that the said sum would be invested in a debenture fund of Oschards Limited and would yield a 40 per cent annual return on investment, which representation you knew to be false.”

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He pleaded not responsible to the cost when it was learn to him.
Following his plea, prosecution counsel, M.S. Owede knowledgeable the court docket that the cost was filed on June 29, 2026. He subsequently requested a trial date and an order remanding the defendant in a Correctional Centre pending the dedication of the case.
Owede additionally sought time to reply to the defendant’s bail software, explaining that the EFCC detention facility was already full and had no out there area.

However, defence counsel, Samuel N. Umoren, knowledgeable the court docket that he had filed a bail software dated November 10, 2026, which had been served on the prosecution. He urged the court docket to listen to the appliance and sought an early date for its listening to. He additionally requested that the defendant be remanded in EFCC custody.
Justice Ijelu subsequently adjourned the case to November 18, 2026, for trial and listening to of the pending bail software.

The defendant was remanded in a Correctional Centre pending additional proceedings.