Special Reports
EFCC arraigns businessman for allegedly defrauding traders of £122,000
News
A businessman, Ashley Segun Oshin, has been arriagned earlier than the Lagos State High Court sitting in Ikeja over an alleged £122,000 funding fraud.
Oshin was arraigned by the Economic and Financial Crimes Commission on Thursday, November 12, earlier than Justice Ismail Ijelu on a one-count cost of acquiring cash by false pretence, opposite to Section 1(3) of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006.
The EFCC prosecution counsel, M.S. Owede, advised the courtroom that the cost was filed on June 29, 2026, and urged the decide to permit the defendant to take his plea.
The EFCC alleged that Oshin induced two people, Miss Oluwafemi Fajana and Mr Abiodun Adeogun, to half with £122,000 between 2009 and 2010 beneath the pretext of investing the cash in a debenture fund operated by Oschards Limited.
According to the cost, the defendant allegedly promised the traders an annual return of 40 per cent, a illustration the fee stated he knew to be false.
Oshin pleaded not responsible when the cost was learn to him.
Following his plea, Owede requested a trial date and an order remanding the defendant in a correctional centre pending the dedication of the case.
The prosecutor additionally sought time to answer the defendant’s bail software, explaining that the EFCC detention facility was already full and had no accessible house.
However, defence counsel, Samuel Umoren, knowledgeable the courtroom that he had filed a bail software dated November 10, 2026, which had been served on the prosecution.
He urged the courtroom to listen to the appliance and sought an early date for its dedication.
He additionally requested that his consumer be remanded in EFCC custody.
The decide ordered that Oshin be remanded in a correctional centre pending additional proceedings.
Justice Ijelu subsequently adjourned the case till November 18, 2026, for trial and listening to of the pending bail software.
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