An Akure Magistrate Court has sentenced former Vice Chancellor of Elizade University, Ilara-Mokin, Ondo State, Prof. Adekunle Oloyede, to five years imprisonment for defrauding the institution as well as its founder, Chief Michael Ade Ojo.
The former VC was arraigned on a six-count charge of obtaining money under false pretence, stealing, and fraud, contrary to the anti-graft laws of the state.
Oloyede, who was appointed as VC of the university in 2015 and had the appointment terminated in 2017, was accused by the founder of the university of fraudulently obtaining $720,000 for the construction of a 500-bed space at the institution.
He was arraigned on charges of conspiracy to steal and obtain by false pretence, contrary to and punishable under Section 516 of the Criminal Code.
The convict, who was also accused of obtaining $250,000, $150,000 and $620,000 at different times from Mike Ade Investment Limited for Duro Global Property under the false pretence of using the money for the construction of hostels for the institution, pleaded not guilty to the six-count charge.
He said that the court lacked jurisdiction to hear the allegation against him.
Oloyede, who denied the allegation, said when he made a presentation of his ideas and innovations to make the school world-class to Chief Ade Ojo, he (the founder) was impressed.
His counsel, Chief Kunle Ijalana, said the matter before the court was contractual and not criminal in nature, contrary to the charges brought against the accused.
He, therefore, urged the court to dismiss the charges.
Adegoroye said the prosecution proved the charge against the accused beyond a reasonable doubt and consequently found him guilty as charged.
The magistrate sentenced the accused to five years imprisonment with an option of N350,000 fine and another three years in prison with an option of N250,000 fine, saying that the prison terms shall run cumulatively.
He ordered that in facilitating restorative justice as provided under Section 290 (6) ACJL of the state of 2015, the defendant should refund $131,500, which is the balance obtained from Chief Ade Ojo, and the money should be paid within six months, failing which the defendant shall serve an additional year in prison.
