An investigator with the Economic and Financial Crimes Commission (EFCC), Ms Moday Moley, on Monday informed Ikeja Special Offences Court, that Stephen Oshinowo, redirected the board’s N127 million to his personal use.
He pleaded not guilty to the charge.
Directed in evidence by the EFCC counsel, Mr Usman Buhari, Moley stated that investigations uncovered that Oshinowo, at different times, supposedly redirected to his personal use, N127million intended for the Lagos State Scholarship Board.
She disclosed that the defendant used his domiciled account, United Bank of Africa (UBA) to continue each of the fraud alleged in each count enclosed on the charge sheet.
“Upon receiving the petition, the Commission froze the defendant’s accounts and commenced investigation into the allegations.
“As at the time of freezing the account the defendant has converted parts of the proceed of alleged fraud to personal use,” she stated.
She uncovered that at some point in 2018; the defendant collected the sum of N30million in three tranches of N10million each from the account of Lagos State Scholarship Board.
“The funds were meant for the use of staff welfare and office renovation, but he later converted same to personal use.
“Investigation also revealed that the defendant sent part of the proceed to his wife, Adenike, pay for flight trips, supermarket sales, POS transactions.
”He kept other funds in fixed deposit account.
” The defendant is the final signatory of the Board’s account at First City Monument Bank (FCMB) and without his signature, no transaction can take place,” she declared.
Subsequent to Moley’s testimony, Buhari requested to tender the statement the defendant made to the EFCC as evidence.
Though, the defence counsel, Mr Lawal Pedro (SAN) opposed the tendering of the documents on the ground that the statement was acquired under physical and emotional torture.
Justice O.A. Taiwo adjourned the case until March 7 for trial-within-trial.
The trial-within-trial is a mini-trial within the setting of the main trial.
It is a process in criminal law whereby the confessional statement of an accused person is subjected to trial scrutiny in order to decide if the statement was freely and willingly made by the accused person to the police.
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