EFCC arraigns businessman over alleged £122,000 investment fraud in Lagos
The Economic and Financial Crimes Commission (EFCC) arraigned businessman Ashley Segun Oshin before Justice Ismail Ijelu of the Lagos State High Court in Ikeja on Thursday, 12 November, over an alleged £122,000 investment fraud. Oshin pleaded not guilty to one count of obtaining money by false pretence.
The EFCC alleges that Oshin obtained £122,000 from two investors between 2009 and 2010. The commission says he told them he would invest the money in an Oschards Limited debenture fund that would earn a 40 per cent annual return. The EFCC alleges that Oshin knew the claim was false.
Court sets 18 November date for trial and bail hearing
EFCC prosecutor M.S. Owede told the court that the commission filed the charge on 29 June 2026. He asked for time to respond to Oshin’s bail application. Defence lawyer Samuel Umoren said he had served the application on the prosecution and asked the court to hear it at an early date.
Justice Ijelu ordered that Oshin be remanded in a correctional centre pending further proceedings. The judge adjourned the case to 18 November for trial and to hear the pending bail application