Elizade university in ilara-Mokin in ondo state suspended Vice-Chancellor ,Prof. Kunle Oloyede, was arraigned on Friday before the Chief Magistrate’s Court in Akure, the state capital, for allegedly defrauding the institution to the tune of about $1.2m.
The institution had explained in a statement by its Board of Trustees why Oloyede was detained by the police for eleven days.
According to The statement that said Oloyede had sometime in 2015 visited the institution ahead of his September appointment date as the second substantive Vice-Chancellor of the university.
According to Punch, During the visit, Oloyede had seen a new five hundred and twelve-bed male hostel project whose contract had just been awarded for $1.8m.
Even though a contractor had been mobilised to the site, according to the institution the said Oloyede advised and persuaded the university’s founder, Chief Michael Ade-Ojo, to stop the project and adopt a new technology called (PIR) Panel Building Technology.
According to oloyede, that would make the completion of the building to be faster and ready by August 2015, while the saving 40 percent of the original contract sum.
To Fascinated by the new technology, Ade-Ojo had agreed to adopt it, surjection that the hostel would be ready by August 2015, before the students’ resumption that year.
According to the incoming VC’s recommendation, Ade-Ojo, between March and July 2015, the transferred a total sum of $1.2m to an Australia-based company that was introduced by Oloyede — Duro Global PTY Ltd.
Meanwhile,mr Oloyede had said he was a partner in the firm.
It was also added in The statement that , when the founder noticed that the steel and panel for the construction were not yet coming, he complained to Prof.
Mr Oloyede, then asked for a power of attorney to act on behalf of the founder in Australia.
The founder was convinced that Prof. Oloyede would ably represent him as promised.
“After given out the power of attorney to Prof. Oloyede, he ask the founder to send the balance of $650,000.00 into his personal account to enable him to procure the remaining materials for the building from South Korea.
The founder transferred the money into Prof oloyede personal account
In Australia hoping that he will help him out.
“he said until this date, only seven containers of incomplete steel have been supplied to the university.”
He said in the statement that all efforts made to get the VC and his partners, Duro Global PTY Ltd.,
to fulfil their contract terms did not bring any result, including a ninety day ultimatum given to them in October 2016.
The institution said that the project failed had caused it a lot of harm in terms of the extra cost of constructing another male hostel at a cost of N1bn.
“When it made known to everybody that Prof. Oloyede could not offer meaningful explanation for the prolonged delay, the founder then put a complaint to the (Ondo) State Police Command with a view to solve on ground the issue.
He was arrested by the police and bring before a Magistrate Court in Akure,” the statement added.
Based on this premise, Oloyede was on Friday bring on a seven-count he was charge of stealing, obtaining money under false pretence and felony.
However,mr Oloyede pleaded that he is not guilty to the charges preferred against him by the office of the State Attorney General and Commissioner for Justice.
His lawyer, Mr. Olusola Oke, said the charges were “ distorted, disjointed, and will not be true.”
In his ruling, Magistrate Ayodeji Akinsanya granted the embattled Vice-Chancellor bail of N2m and two sureties in like sum, while also asking the accused to bring his two passports with the court registrar.
And the case was adjourned till February 7 and 8, 2017 for continuation of the trial.
The institution had explained in a statement by its Board of Trustees why Oloyede was detained by the police for eleven days.
According to The statement that said Oloyede had sometime in 2015 visited the institution ahead of his September appointment date as the second substantive Vice-Chancellor of the university.
According to Punch, During the visit, Oloyede had seen a new five hundred and twelve-bed male hostel project whose contract had just been awarded for $1.8m.
Even though a contractor had been mobilised to the site, according to the institution the said Oloyede advised and persuaded the university’s founder, Chief Michael Ade-Ojo, to stop the project and adopt a new technology called (PIR) Panel Building Technology.
According to oloyede, that would make the completion of the building to be faster and ready by August 2015, while the saving 40 percent of the original contract sum.
To Fascinated by the new technology, Ade-Ojo had agreed to adopt it, surjection that the hostel would be ready by August 2015, before the students’ resumption that year.
According to the incoming VC’s recommendation, Ade-Ojo, between March and July 2015, the transferred a total sum of $1.2m to an Australia-based company that was introduced by Oloyede — Duro Global PTY Ltd.
Meanwhile,mr Oloyede had said he was a partner in the firm.
It was also added in The statement that , when the founder noticed that the steel and panel for the construction were not yet coming, he complained to Prof.
Mr Oloyede, then asked for a power of attorney to act on behalf of the founder in Australia.
The founder was convinced that Prof. Oloyede would ably represent him as promised.
“After given out the power of attorney to Prof. Oloyede, he ask the founder to send the balance of $650,000.00 into his personal account to enable him to procure the remaining materials for the building from South Korea.
The founder transferred the money into Prof oloyede personal account
In Australia hoping that he will help him out.
“he said until this date, only seven containers of incomplete steel have been supplied to the university.”
He said in the statement that all efforts made to get the VC and his partners, Duro Global PTY Ltd.,
to fulfil their contract terms did not bring any result, including a ninety day ultimatum given to them in October 2016.
The institution said that the project failed had caused it a lot of harm in terms of the extra cost of constructing another male hostel at a cost of N1bn.
“When it made known to everybody that Prof. Oloyede could not offer meaningful explanation for the prolonged delay, the founder then put a complaint to the (Ondo) State Police Command with a view to solve on ground the issue.
He was arrested by the police and bring before a Magistrate Court in Akure,” the statement added.
Based on this premise, Oloyede was on Friday bring on a seven-count he was charge of stealing, obtaining money under false pretence and felony.
However,mr Oloyede pleaded that he is not guilty to the charges preferred against him by the office of the State Attorney General and Commissioner for Justice.
His lawyer, Mr. Olusola Oke, said the charges were “ distorted, disjointed, and will not be true.”
In his ruling, Magistrate Ayodeji Akinsanya granted the embattled Vice-Chancellor bail of N2m and two sureties in like sum, while also asking the accused to bring his two passports with the court registrar.
And the case was adjourned till February 7 and 8, 2017 for continuation of the trial.
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