Court orders ex- VC to refund $1.75m to varsity

The Igbara-Oke division of the Ondo State high court has ordered the erstwhile vice-chancellor of Elizade University, Ilara-Mokin, Prof Adekunle Oloyede to refund the sum of $1.75m to the university.

The university had approached the Igbara-Oke division of the high court for the recovery of the sum of $1.75m from Prof Oloyede, being the amount transferred to the former vice-chancellor and his partners’ accounts in Australia for the construction of a 500-bed panel technology hostel in the institution, prior to Oloyede’s engagement as vice-chancellor. 

Oloyede, who was later appointed as the university’s vice-chancellor had his appointment terminated with the university in early 2017 on sundry allegations, including the failure to execute the 500-bed hostel contract.

Between March 2019 when the court processes were served on Oloyede and his partners, and November 6, 2019, Oloyede and his partners allegedly failed to file their defence to the action after several adjournments.

This development prompted counsel to the university to apply to the court for judgment in default of defence and for the failure of Oloyede to participate in the pre-trial conference.

In agreement with the submission of the university council, the court ordered Oloyede and his Australian partners to refund the sum of $1.750m to the school as money received for the project.

Although the embattled vice-chancellor and his partners applied to set aside the ruling, the court struck out the application describing it as spurious, watery and lacking in substance.