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EFCC re-arraigns FUTA Vice Chancellor, Bursar for N156m fraud

Published

9 years ago

March 30, 2017

The Economic and Financial Crimes Commission (EFCC), on Thursday, re-arraigned the duo of the Vice Chancellor of the Federal University of Technology, Akure, Professor Adebiyi Daramola and the Bursar, Emmanuel Ayodeji Oresegun before Justice W. R. Olamide of the Ondo State High Court, Akure for fraud.

They are facing a nine-count charge bordering on obtaining money under false pretense, abuse of office, misappropriation of funds and conspiracy to steal to the tune of N156,984,455.33.

The accused persons, however, pleaded not guilty to the charges preferred against them.

In view of their plea, the prosecution counsel, Benedict Ubi, prayed the court for a trial date.

Counsels to the first and second defendants, O. O. Ogunbade and Ibakun Fasami prayed the court to allow the defendants continue to enjoy the bail earlier granted them by Justice S. A. Bola on the 14th of February, 2017. The EFCC counsel did not oppose the application.

Justice Olamide granted bail to the accused on the previous terms and adjourned the case to 3, 4, 10 and 11 of May, 2017 for hearing.

National Daily gathered that the VC and the Bursar’s journey to the dock followed a petition to EFCC sometimes 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.

They were further alleged that the VC misapplied funds, collected housing allowances whilst living in government residential quarters, drew furniture allowance annually instead of once in 4 years as approved by Salaries and Wages Commission, used public funds to finance private expenses, illegal payment of allowances to Council members, among others.