FUTA VC, Bursar docked over N156m fraud

The Economic and Financial Crimes Commission (EFCC), on Tuesday, arraigned the Vice Chancellor of the Federal University of Technology Akure (FUTA), Prof. Adebiyi Daramola and the Bursar, Emmanuel Oresegun, before Justice S.A. Bola of the Ondo State High Court, Akure, 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.

The arraignment of the pair followed a petition to the EFCC last year, which alleged that the two principal officers and the governing council of the institution were engaged in the misappropriation of the funds of the university.

After the charges were read, both accused persons pleaded not guilty.

Count one of the charge read: “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.”

After the accused persons’ pleas had been taken, counsel to EFCC, Dr Benedict Ubi, asked the court for a trial date.

But counsel to the 1st and 2nd defendants, Adebayo Olanipekun and O. Theophilus respectively, prayed the court to allow them move an oral application for bail.

The prosecution counsel, however, opposed their request, arguing that they were required to put facts before the court on why the defendants must be granted or refused bail. He also said he would need time to peruse and react to the content of the bail application.

After listening to the arguments of all the counsels, the judge granted bail to the defendants in the sum of N10 million and two sureties in like sum, who must be professors in the Federal University of Technology, Akure, or public officers of not less than grade level 17. The sureties must also depose to an 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 three years.

The judge also ordered that the defendants be remanded at State Criminal Investigations Department, Akure, pending the perfection of there bail conditions and fixed March 20, 21 and 22 for trial.

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