Tuesday, 14 February 2017

EFCC docks FUTA Vice-Chancellor over N156 Million fraud



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, collects housing allowances whilst living in the government residential quarters, drew Furniture Allowance annually instead of once in 4 years as approved by income and wages Commission, uses 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 imprest, transferred and placed N100,000,000.00 funds of the University in a fixed deposit account without due authorization.

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

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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