EFCC Questions, Detains Ex-Lagos Scholarship Board Boss, Stephen Oshinowo Over Alleged N150m Fraud

The Economic and Financial Crimes Commission, EFCC, Lagos Zonal office, has commenced investigation into the allegations of over N150m (One Hundred and Fifty Million Naira)  fraud involving Stephen Oshinowo, a former Executive Secretary, Lagos State Scholarship Board; a director in charge of Accounts; Shobaloju Akinwunmi; and one Kasali Kamoru Amoo.
Investigations are on for alleged stealing, money laundering and abuse of office to the tune of over N150m.
Investigations, according to the commission’s spokesman, Mr. Wilson Uwujaren, revealed that the N150 million was fraudulently converted the money to personal use through two companies, Julikam International Limited and Orsimolu Trading Solutions, while some pseudo names were used to benefit from the scheme.
The suspects had been invited for interrogation by the Commission earlier this month, following intelligence reports received about their alleged involvement in the fraud.
They, however, reported to the Commission on Tuesday, November 26, 2019 for interrogation.
While the second and third suspects, Akinwunmi and Amoo, have been granted an administrative bail, the first suspect, Oshinowo, remains in the EFCC custody pending the conclusion of investigation.