The Economic and Financial Crimes Commission (EFCC), Lagos Zonal Directorate 1, has arraigned a businessman, Ashley Segun Oshin, before Justice Ismail Ijelu of the Lagos State High Court sitting in Ikeja over an alleged £122,000 investment fraud.
Arraigned on Thursday, November 12, 2026, on a one-count charge of obtaining money by false pretence contrary to Section 1(3) of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006, Oshin was accused by the prosecution—led by M.S. Owede—of fraudulently inducing two complainants, Miss Oluwafemi Fajana and Mr. Abiodun Adeogun, to invest £122,000 between 2009 and 2010.
According to the charge filed on June 29, 2026, the defendant falsely represented that the funds would be invested in a debenture fund operated by Oschards Limited with a promised 40 per cent annual return on investment.
Following Oshin’s plea of not guilty, defence counsel Samuel Umoren urged the court to grant an early hearing for a bail application filed on November 10 and requested that his client be held in EFCC custody.
However, after prosecution counsel informed the court that the EFCC detention facility was filled to capacity, Justice Ijelu ordered that the defendant be remanded in a Nigerian Correctional Service facility and adjourned the matter to November 18, 2026, for bail hearing and commencement of trial.
"The defendant induced two individuals to deliver the aggregate sum of £122,000 by falsely representing that the sum would be invested in a debenture fund of Oschards Limited and yield a 40 per cent annual return." — EFCC Charge Sheet Summary
#EFCC #FinancialCrime #IkejaHighCourt #InvestmentFraud #LagosCourt #NigerianJudiciary #AntiGraft #QubesMetro
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