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Ex-Elizade varsity VC Oloyede bags five years over $1.2m fraud

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A former Vice Chancellor of Elizade University, Ilara-Mokin, Ondo State, Prof. Adekunle Oloyede, has been sentenced to five years imprisonment for $1.2 million fraud, by an Ondo State High Court sitting in Akure, the state capital.

Justice Aderemi Adegoroye jailed the professor after finding him guilty on all six counts of false pretences, stealing and fraud contrary to the anti-graft laws of the state.

The accused, Oloyede, was said to have fraudulently obtained the sum of $720,000 for the construction of a 500-bed space at the school, while he also obtained the sum of $250,000, $150,000, and $620,000 at different times.

The money was collected from Mike Ade Investment limited for Duro Global Property under the false pretence of using the amount for the construction of a hostel for the institution.

The Professor of Medical Engineering was dragged before the Court by the State Legal Officer, represented by Mr O.E Akintan, who told the court of the professor to stand accused of conspiracies to steal and to obtain by false pretence contrary which are punishable under section 516 of the criminal code.

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In the evidence before the court, several amounts running into millions in foreign currency was paid into the account linked to Oloyede and his cronies for the importation of panel for the construction of a hostel for students of the university.

The court heard that despite the payment for the panel and for the shipment of the materials from Australia to Ilara-Mokin in Ondo State, the former Vice Chancellor failed to execute the projects, leading to his arrest and prosecution for alleged fraud by the state government.

But Oloyede, while denying the allegation of fraud against him, said he made a presentation of his ideas and innovation of making the school world-class to Chief Ade Ojo, saying the founder was impressed.

He said one of his ideas was to have a revenue-generating portfolio and it was the idea that brought in the suggestion of the school having a factory to manufacture panels for building affordable houses.

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The Counsel to Oloyede, Chief Kunle Ijalana, said the matter before the court was contractual and not criminal in nature contrary to the charges brought against the accused and, therefore, asked the court to dismiss the charges.

According to the story, the embattled VC had some time in 2015 visited the institution ahead of his September appointment date as the second substantive Vice-Chancellor of the university.

During the visit, Oloyede had seen a new 512-bed male hostel project whose contract had just been awarded for $1.8m.

Even though a contractor had been mobilised to the site, the institution said Oloyede advised and persuaded the university’s founder, Chief Michael Ade-Ojo, to discontinue the project and adopt a new technology called PIR Panel Building Technology.

According to him, that would make the completion of the building to be faster and ready by August 2015, while also saving 40 per cent of the original contract sum.

Fascinated by the new technology, Ade-Ojo had agreed to adopt it, believing that the hostel would be ready by August 2015, ahead of the students’ resumption that year.

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Based on the incoming VC’s recommendation, Ade-Ojo, between March and July 2015, transferred a total sum of $1.2m to an Australia-based firm that was introduced by Oloyede — Duro Global PTY Ltd.

However, Justice Adegoroye said the prosecution has proved the charge against the accused beyond reasonable doubt and consequently found him guilty as charged, sentencing the accused to five years with an option of a fine of N350.000.00.

The Court also sentenced Oloyede to another three years with an option of a fine of N250.000.00 and said the prison terms shall run cumulatively.

Justice Adegoroye ordered that in facilitating restorative justice as provided under Section 290(6) ACJL of the state 2015, the defendant should refund the sum of $131,500 being the balance obtained from Chief Ade Ojo and the money should be paid within six months of failure which the defendant shall serve additional one year in prison.

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Gunmen attack church in Ekiti, kill pastor, abduct worshippers

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Some yet-to-be-identified gunmen have attacked a Christ Apostolic Church in Eda Oniyo Ekiti, Ilejemeje Local Government Area of Ekiti State, killing a pastor and abducting an unspecified number of worshippers.


According to reports, the attack, which occurred during a church programme on Tuesday night, has thrown the community into panic, with residents expressing fears over rising insecurity in the area.


Sources in the community said the assailants, who were armed and arrived in numbers, stormed the church located on the outskirts of the town, shot the pastor dead and whisked away several worshippers into a nearby forest.


Sources, who spoke on condition of anonymity, said efforts were ongoing to determine the exact number of abducted victims.


“The invaders were many. They killed the pastor and took away some worshippers. We cannot say the number yet. Moves to collate those who are missing have begun. The community is in a panic mode for now,” the source said.

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The Police Public Relations Officer in Ekiti state, Sunday Abutu, who confirmed the incident, said the Commissioner of Police, Michael Falade, has ordered a thorough investigation and a manhunt for the perpetrators.


“The Police in collaboration with the Nigerian Army, the Amotekun Corps, the Agro Marshal, the Vigilantes and the local hunters have commenced an aggressive bush combing operations and a serious manhunt on the perpetrators in order to ensure the rescue of the victims and the arrest and prosecution of the culprits,” Abutu said.


He added that the police were working to ensure the safe rescue of the victims and the arrest of those responsible.



“The commissioner of Police calls for calm as necessary steps are currently being taken to salvage the situation and forestall recurrence.


“Members of the public are charged to be security conscious, vigilant and promptly report any suspicious person or group of persons found within their environments to the police and other security agencies for necessary proactive actions,” he added.

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Abutu also advised religious leaders to notify the police before organising late-night gatherings to enable adequate security arrangements.


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Couple beats adopted daughter to death in Lagos

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The Igando community in Lagos state  has been thrown into deep mourning following the death of a 10-year-old girl, who was allegedly beaten to death by her adopted parents, Paul Onyeama and Adline Ogbonna.

According to reports, the incident occurred on Sunday, following weeks of alleged abuse.

The couple, who lived on Jemesi Papa Street, reportedly subjected the minor to persistent maltreatment, including frequent assaults and sending her on strenuous errands despite her young age.

The girl, identified as Faith, was said to have fallen ill for about two weeks, but the alleged abuse reportedly continued unabated.

A resident of the area, said the situation escalated on Sunday when the husband and wife were said to have severely beaten the ailing child, leading to her death.

He said, “The couple had adopted a 10-year-old girl. They had been consistently maltreating and assaulting the child, while also sending her on unnecessary errands.

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“I was informed that the girl had been sick for about two weeks, yet the abuse continued. Yesterday, both the husband and wife allegedly beat the child severely despite her condition, and sadly, she died.”

It was gathered that the suspects later rushed the victim to a hospital, where she was confirmed dead on arrival.

Youths in the area, who were reportedly angered by the development, apprehended the woman.

The husband had allegedly left home earlier to procure a tricycle to dispose of the girl’s corpse, was also held by the youths.

“The moment the girl died, they kept her corpse in the room and acted as though nothing had happened. The wife even came out this morning to cook in the kitchen like nothing had happened.

“It was residents who had been observing what was going on that raised the alarm about the whereabouts of the girl before they discovered that she had died. If they had succeeded in disposing of the body, no one would have known her whereabouts,” a resident said.

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Police operatives were thereafter deployed to the scene, leading to the arrest of the couple and the recovery of the child’s body.

“Our preliminary findings revealed that the child was already dead before she was brought to the medical facility. The case will be transferred to the State Criminal Investigation Department, Panti, for further investigation,” a source said.

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EFCC arrests Cameroonian businessman for alleged ₦1.5bn bank fraud in Lagos

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Operatives of the Lagos Zonal Directorate 2 of the Economic and Financial Crimes Commission (EFCC), Ikoyi, Lagos, have arrested a Cameroonian businessman, Bekono Eric, for allegedly defrauding a first-generation bank of about N1.5bn.

A statement by Dele Oyewale, the Commission’s spokesperson, described the 47-year-old suspect as a member of a suspected trans-border syndicate that allegedly specialises in credit card fraud.

He was arrested on Thursday, April 23, 2026, in the Ikorodu area of Lagos.

According to the EFCC, investigations revealed that members of the suspected syndicate allegedly open bank accounts in Nigeria, obtain Automated Teller Machine (ATM) cards and PINs, and then move to neighbouring countries where they allegedly used the cards to carry out fraudulent transactions on accounts belonging to customers with high balances.

The suspect will be charged in court as soon as investigations are concluded.

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