On Monday, November 26, 2018, EFCC arraigned Babatunde Osho, before
Justice Nnamdi Dimgba of the Federal High Court, sitting in Maitama,
Abuja, on a 41-count charge, bordering on forgery, fraudulent
acquisition of properties and money laundering to the tune of N700
million. Osho was arraigned alongside Midset Agro Services Limited, Just
Fair Investment Limited, and Tufik Associates, companies he is
signatories to. The defendant's journey to the dock, started when the
Commission received an intelligence report that Osho, a Deputy Director,
Account and Finance, in Small and Medium Enterprises Development
Agency, SMEDA, allegedly diverted the said money, meant for constituency
projects and awarded same to his personal companies. Further
investigations into the matter revealed that no contracts were executed.
Also, during interrogation, he was asked why the money was diverted
into his account and Osho, who equally owns a Primary and Secondary
School, Royal Field Academy in Ogun State, made available forged
documents to mislead the Commission into believing that the contract was
actually awarded to his companies.One of the counts reads: "That you
Babatunde Osho and Just Fair Investment Limited between April 2017 and
May 2018 in Abuja within the jurisdiction of this honourable court, used
the total sum of N120,700,000 (One Hundred And Twenty Million, Seven
Hundred Thousand Naira) when you ought to have known that the said
N120,700,000 paid into the FCMB Account No. 4342993012 represents
proceeds of unlawful activity of Babatunde Osho to wit: Forgery and
Fraudulent Acquisition of Property and thereby committed an offence
contrary to Section 15 (2) (d) of the Money Laundering Prohibition Act
2011 as amended by Act No. 1 of 2012 and punishable under Section 15 (3)
of the same Act".He pleaded not guilty to all the counts. In view of
his plea, the prosecution counsel, E. E. Iheanacho, prayed the court for
a trial date and for the defendant to be remanded in prison custody.SMEDA deputy director, Tunde Osho arraigned for N700m fraud (Photo)
On Monday, November 26, 2018, EFCC arraigned Babatunde Osho, before
Justice Nnamdi Dimgba of the Federal High Court, sitting in Maitama,
Abuja, on a 41-count charge, bordering on forgery, fraudulent
acquisition of properties and money laundering to the tune of N700
million. Osho was arraigned alongside Midset Agro Services Limited, Just
Fair Investment Limited, and Tufik Associates, companies he is
signatories to. The defendant's journey to the dock, started when the
Commission received an intelligence report that Osho, a Deputy Director,
Account and Finance, in Small and Medium Enterprises Development
Agency, SMEDA, allegedly diverted the said money, meant for constituency
projects and awarded same to his personal companies. Further
investigations into the matter revealed that no contracts were executed.
Also, during interrogation, he was asked why the money was diverted
into his account and Osho, who equally owns a Primary and Secondary
School, Royal Field Academy in Ogun State, made available forged
documents to mislead the Commission into believing that the contract was
actually awarded to his companies.One of the counts reads: "That you
Babatunde Osho and Just Fair Investment Limited between April 2017 and
May 2018 in Abuja within the jurisdiction of this honourable court, used
the total sum of N120,700,000 (One Hundred And Twenty Million, Seven
Hundred Thousand Naira) when you ought to have known that the said
N120,700,000 paid into the FCMB Account No. 4342993012 represents
proceeds of unlawful activity of Babatunde Osho to wit: Forgery and
Fraudulent Acquisition of Property and thereby committed an offence
contrary to Section 15 (2) (d) of the Money Laundering Prohibition Act
2011 as amended by Act No. 1 of 2012 and punishable under Section 15 (3)
of the same Act".He pleaded not guilty to all the counts. In view of
his plea, the prosecution counsel, E. E. Iheanacho, prayed the court for
a trial date and for the defendant to be remanded in prison custody.
