EFCC Araigns FUTA VC, Bursar For Over N156m Fraud

L-R: EFCC official, FUTA Bursar, VC   Photo: Premium Times


The Economic and Financial Crimes Commission, EFCC has arraigned the duo of the Vice Chancellor, Professor
Adebiyi Daramola and the Bursar, Emmanuel Ayodeji 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

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.

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

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

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

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.

Source: EFCC Facebook page

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