EFCC arraigns FUTA VC, bursar for alleged N156m fraud

The Economic and Financial Crimes Commission (EFCC), on Tuesday, arraigned Adebiyi Daramola, vice-chancellor of the Federal University of Technology Akure (FUTA), for alleged fraud.

Daramola was arraigned alongside Emmanuel Oresegun, the bursar, before Justice SA Bola of the Ondo state high court Akure.

According to a statement issued by Wilson Uwujaren, EFCC spokesperson, the duo is facing a nine-count charge of obtaining by false pretence, abuse of office, misappropriation of funds and conspiracy to steal to the tune of N156m.

Their journey to the dock followed a petition received by the EFCC sometime in 2016, alleging corruption, fraud, and embezzlement of the university’s funds.

The VC was alleged to have received housing allowances while living in the government residential quarters and drew furniture allowance annually instead of once in four years as approved by the income and wages commission.

He was also alleged to have used public funds to finance private expenses while engaging in illegal payment of allowances to the university’s council members.

In addition, Daramola was alleged to have collected bogus monthly imprest; transferred and placed N100m of the university funds in a fixed deposit account without authorisation.

They, however, pleaded not guilty to the charges.

One of the counts reads: “That you, Professor Adebiyi G Daramola on or about the 2nd of September, 2016 at Akure within the Akure Judicial Division of this 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 reads: “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.”

In view of their plea, Benedict Ubi, counsel to the EFCC, asked for a trial date. But counsel to the first and second defendants – Adebayo Olanipekun and Theophilus – prayed the court to allow them make oral application for bail.

Ubi opposed the oral application, stating that counsel had to put facts before the court as to why the defendants must be granted bail, which he would also need time to respond to.

The judge, after considering the arguments of all the counsels, granted bail to the defendants in the sum of N10m bond, two sureties in like sum who must be professors in FUTA or public officers not less than grade level 17 and must depose to an affidavit of means.

They are also to 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 case was adjourned to March 20, 21 and 22, 2017 for commencement of trial, while the defendants were remanded in state CID, police headquarters, Akure, pending the perfection of their bail conditions.