Ex-CBN Manager Forfeits Property of Illegal Poly to Govt

The Economic and Financial Crimes Commission (EFCC), on Monday, executed an interim order granted by Justice Taiwo Taiwo of the Federal High Court, Ado Ekiti against one Johnson Babalola, in respect of the property of Teedek Polytechnic, Ilogbo-Ekiti, Ekiti State.

Babalola is allegedly operating the institution, located at kilometre 4, Ido-Ijero Road, Ilogbo-Ekiti, without the requisite government approval.

The order of the court is pending the final determination of the suit filed against Babalola by the EFCC for alleged fraud and operation of an illegal tertiary institution.

Babatola was first arraigned by the Ibadan Zonal Office of the EFCC on October 10, 2016.

The accused, a former Principal Manager with the Central Bank of Nigeria (CBN), Ado-Ekiti branch, was arrested following a petition by the National Board for Technical Education (NBTE), alleging that he was operating an illegal Institution named Teedek Polytechnic.

The petition alleged that the accused had allegedly extorted gullible students, who were not aware of the illegal status of the institution.

The petition further alleged that some of the students of the polytechnic had earlier reported the accused to the board, after which it published the name of the school as an illegal institution in some national dailies.

It said that the accused, however, failed to stop the fraudulent act and continued to fleece innocent students through the polytechnic.

The petition also alleged that Babatola had sometime between August 2013 and March 2015 attempted to defraud one Adakeja Thomas Olusola at Ilogbo Ekiti, within the jurisdiction of the court, to the tune of N118,000, having falsely represented that the money was his tuition fees.

It added that the accused told the victim the money was for the award of National Diploma Certificate by Teedek Polytechnic

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