The Economic and Financial Crimes Commission has begun investigation into the allegations of over N150 million fraud carried out under the Lagos scholarship board.
The officials being investigated by the EFCC are Stephen Oshinowo, a former Executive Secretary, Lagos State Scholarship Board, Shobaloju Akinwunmi, Director, Accounts and one Kasali Kamoru Amoo.
The suspects are being investigated for alleged stealing, money laundering and abuse of office to the tune of over N150m.
Investigations revealed that the suspects fraudulently converted the money to their personal use through two companies, Julikam International Limited and Orsimolu Trading Solutions, while also using some pseudo names that benefited from the scheme.
Odunews.com learnt that 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.