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    Ghana’s Kofa Secures $8.1M Pre-Series A Funding to Drive Clean Energy Access Across Urban Africa

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Govt Official Arraigned For Diverting N127m Scholarship Board Fund in Lagos

by Eucharia Egwuma
February 23, 2021
in Lagos News
Reading Time: 2 mins read
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Ex-army General Challenges Dismissal of N8bn Lawsuit Against Lagos, Others
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An Ikeja Special Offences Court on Monday heard a case of how a former Executive Secretary of Lagos State Scholarship Board, Stephen Oshinowo allegedly diverted N127 million to personal use.

Oshinowo is facing an amended eight-count charge bordering on criminal conversion brought against him by the Economic and Financial Crimes Commission (EFCC) before Justice Oluwatoyin Taiwo.

The anti-graft agency said investigation had revealed that the defendant allegedly diverted to personal use the sum N127 million meant for the Board at various times.

The EFCC said investigation conducted revealed that Oshinowo, at various times, diverted funds meant for the Board.

Oshinowo denied the charges when they were read to him.

During resumed proceedings yesterday, an investigator of the EFCC, Moday Moley, narrated how the defendant used his account in United Bank of Africa (UBA) to perpetrate the alleged fraud.

Mr. Stephen Oshinowo

Moley who was led in evidence by the prosecuting counsel, Usman Buhari, told the court that

Following the receipt of a petition, the commission freeze the defendant’s accounts with UBA and commence investigation into the allegations stated in the document.

He said that as at the time of freezing the account the defendant had converted parts of the fund received from Lagos State Scholarship Board to personal use.

According to him, sometime in 2018, the defendant received the sum of N30million in three tranches of N10million each from the account of Lagos State Scholarship Board, for the use of staff welfare and office renovation but that later converted same to personal use.

She said investigation revealed that the defendant sent part of the proceed to his wife, Adenike, for payment for flight trips, supermarket sales, POS transactions and kept others in fixed deposit account.

After the testimony, the prosecutor, Buhari sought permission of the court to tender the statements of account of the defendant.

Defence counsel, Lawal Pedro (SAN) opposed on the request.

Pedro argued that the defendant statement was obtained under duress and emotional torture.

Ruling on the matter, the trial judge, Justice Taiwo adjourned the matter till March 7 for trial-within-trial to determine the voluntariness of the confessional statement.

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