Ibadan college official arraigned for embezzlement of school fund

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IBADAN COLLEGE OFFICIAL ARRAIGNED FOR EMBEZZLEMENT OF SCHOOL FUND

A senior official of the University of Ibadan, Dr. Olamide Adeyemi, has been arraigned before a Federal High Court in Ibadan for allegedly embezzling a substantial amount of school funds.

Dr. Adeyemi, who is the Director of Finance and Accounts at the university, was accused of misappropriating N50 million meant for the payment of staff salaries and other official expenses.

The prosecution, led by the Economic and Financial Crimes Commission (EFCC), alleged that Dr. Adeyemi used the stolen funds to purchase a property in a high-end estate in Ibadan.

The EFCC said in a statement that the investigation into the matter began after a whistleblower reported the alleged embezzlement to the commission.

During the arraignment, Dr. Adeyemi pleaded not guilty to the charges preferred against him. His lawyer, Mr. Adebayo Adeniji, requested that the court grant his client bail, citing his good character and the fact that he had been cooperating with the investigation.

The prosecution, however, opposed the bail application, citing the seriousness of the allegations and the risk of Dr. Adeyemi fleeing the country if granted bail.

The court, presided over by Justice Ayo Emmanuel, granted Dr. Adeyemi bail in the sum of N50 million, with two sureties who must be resident in Ibadan.

The case has been adjourned to March 15 for further hearing.

The EFCC has vowed to ensure that Dr. Adeyemi is brought to justice for his alleged role in the embezzlement of the university's funds.

"This is a clear case of financial recklessness and abuse of office," said the EFCC's Head of Operations in Ibadan, Mr. Friday Ebelo. "We will leave no stone unturned in our efforts to recover the stolen funds and bring the perpetrator to book."

The university has also launched an internal investigation into the matter and has suspended Dr. Adeyemi pending the outcome of the investigation.

The incident has sparked outrage among students and staff of the university, who are calling for Dr. Adeyemi's immediate dismissal and prosecution.

"This is a betrayal of the trust placed in him by the university community," said a student leader. "We demand that he is held accountable for his actions and that the stolen funds are recovered."