Vice Chancellor, Bursar Docked For Over N156 Million Fraud

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The Economic and Financial Crimes Commission, EFCC, on Tuesday, February 14, 2017, arraigned the duo of the Vice Chancellor, Professor Adebiyi G. Daramola and the Bursar, Emmanuel Ayodeji A. Oresegun, before Justice S.A Bola of Ondo State High Court, Akure Ondo State, on a 9-count charge bordering on obtaining under false pretense, abuse of office, misappropriation of funds and conspiracy to steal to the tune of N156,984,455.33 (One Hundred and Fifty Six Million Nine Hundred and Eighty Four Thousand Four Hundred and Fifty Five Naira Thirty Three Kobo).

The VC and the Bursar's journey to the dock followed a petition received by the EFCC in 2016, alleging that the duo and the governing council of the University were entrenched in unmitigated corruption, fraud, mindless stealing of the funds of the Federal University of Technology, Akure, Ondo State.

It was alleged that the VC misapplied funds, collected housing allowances whilst living in the government residential quarters, drew Furniture Allowance annually instead of once in 4 years as approved by the income and wages Commission, used public funds to finance private expenses, illegal payment of allowances to Council members of the university, gives self excessive cash advance, direct procurement of motor vehicles without approval/waiver from Bureau of Public Procurement, collecting bogus monthly interest, transferred and placed N100,000,000.00 funds of the University in a fixed deposit account without due authorization.

The 2 accused persons, however pleaded not guilty to the charges.

One of the count charge reads: “That you, Professor Adebiyi G. Daramola on or about the 2nd of September, 2016 at Akure within the Akure Judicial Division of the honourable court with intent to defraud, obtained the sum of Twenty Four Million Two Hundred and Twenty Three Thousand Four Hundred and Eighty Four Naira (N24, 223,484.00) only from the Federal University of Technology Akure, when you falsely represented that the said sum of money was for your Biennial family vacation overseas for the year 2015 and 2016, which representation you knew was false”
Another count read: “That you, Professor Adebiyi G. Daramola and Emmanuel A. Ayodeji Oresegun on or about the 21st January, 2015, at Akure within the Akure Judicial Division of this honourable court with intent to defraud, conspired to fix the sum of One Hundred Million Naira (N100, 000,000:00) only property of Federal University of Technology, Akure in a Wema bank account No: 1300003035 without due process.

In view of their plea, counsel to EFCC, Dr Benedict Ubi asked for a trial date. But counsel to the 1st and 2nd defendants, Adebayo Olanipekun and O. Theophilus, prayed the court to allow them to move oral application for bail. Ubi was opposed to oral application for bail, stating that the counsel have to put facts before the court as to the reason why the defendants must be granted or refused bail, the the need for time to peruse and react to the content of the bail application.

Justice Bola, after considering the arguments of all the counsels, granted bail to the defendants in N10m bond, 2 sureties in like sum who must be professors in the Federal University of Technology, Akure, or public officer not less than grade level 17, must depose to affidavit of means, present title documents of landed properties within the jurisdiction of the court and must present evidence of tax payment for the past 3 years.

Justice Bola however adjourned the matter to 20, 21 and 22 of March for trial and ordered that the defendants be remanded in State CID, Police headquarters, Akure pending the perfection of their bail applications.

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