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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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Yahoo boy jailed seven years for defrauding American $205,238

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A Federal Capital Territory High Court in Abuja has sentenced one Nwachi Chidozie Kingsley to seven years’ imprisonment for defrauding an American woman, Nicole Kierulff Sayers, of $205,238 under false pretence.

According to a statement issued on Thursday by Dele Oyewale, head,  media & publicity of the Economic and Financial Crimes Commission (EFCC),
Justice U.P. Kekemeke of the FCT High Court, Maitama, in his judgement, also also ordered Kingsley to refund the victim the full amount.

The EFCC said Kingsley was sentenced to seven years on each of the two counts against him, with the sentences to run concurrently at the Kuje Correctional Centre, Abuja, without an option of fine.

The charges bordered on possession of a document containing false pretence and obtaining money by false pretence in connection with a purported contract with the Federal Ministry of Works and Housing.

According to the Commission, one of the charges accused Kingsley of possessing a fake notice of intent to award a contract allegedly issued in his name by the ministry. The second count accused him of obtaining $205,238 from Sayers by falsely claiming that the money was needed to finance a government contract.

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Testifying before the court, Sayers, an American lawyer based in Oregon, United States, said Kingsley first contacted her through Facebook on her birthday.

“I know the defendant. The defendant messaged me on Facebook on my birthday and he said he was a member of the same spiritual organization as me,” she told the court.

Sayers said their conversations later developed into a romantic relationship, which made her trust Kingsley and believe his claims.

According to her testimony, Kingsley subsequently requested money to facilitate the award of a contract by the Federal Ministry of Works and Housing. She said he claimed that some men were threatening his life because he had not provided the money required to secure the contract.

The witness told the court that Kingsley supplied her with details of the purported contract, including a logo and other information, which she believed because of the emotional attachment she had developed towards him.

She said his initial request was for $15,000, which he promised to repay within 45 days. She transferred the money through a money transfer application.

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Sayers further testified that Kingsley later introduced her to members of his family during a video call, during which they allegedly thanked her for helping him secure the purported contract.

She said she had transferred approximately $40,000 to him before travelling to Nigeria to meet him in person.

According to the witness, she arrived in Abuja in March 2022 and spent two weeks with Kingsley at his rented house in Sun City, Abuja. She said she continued the relationship because she wanted to recover her money.

Sayers alleged that Kingsley subsequently requested additional funds for various purposes, including medical emergencies, surgeries, malaria treatment and supplies for the purported government contract.

She told the court that the requests involved more than 125 transactions and that, by her estimate, she transferred well over $200,000 to him within 12 months.

The witness also said Kingsley presented a document he claimed showed that he had attempted to transfer $10,000 to her.

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According to her, he claimed that the bank had intercepted the transaction because the money was allegedly linked to the misappropriation of government funds, which he said had led to his arrest and detention.

Sayers further alleged that Kingsley asked her to provide money for his bail and for bribes connected to the purported criminal case.

She told the court that she repeatedly demanded a refund, adding that Kingsley eventually requested her bank details and promised to transfer the money the following day but failed to do so.

She said she later realised that he would not repay the money.

At the conclusion of the prosecution’s case, EFCC counsel, Fatsuma Muhammad, urged the court to convict and sentence Kingsley in accordance with the law.

In his judgment, Justice Kekemeke found Kingsley guilty on the two counts and imposed the prison terms without an option of fine. The court also ordered him to restitute the $205,238 to Sayers.

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Nigerian on US Most Wanted List over $1m fraud

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The United States Department of Labour has named a Nigerian, Onoriode Ezewu, on the Most Wanted List over allegations of money laundering involving fraudulent unemployment benefit claims worth more than $1m.

The department’s Office of Inspector General unveiled the list on its website on Wednesday, naming 16 fugitives wanted in cases involving alleged fraud, identity theft, money laundering, labour trafficking and other offences.

According to the agency, the cases collectively involve more than $55m allegedly stolen from American taxpayers.

Ezewu’s profile on the department’s website identifies him as wanted for concealment money laundering and states that he is believed to be residing in Nigeria.

“In January 2021, Ezewu was charged with 15 counts of concealment money laundering tied to fraudulent UI and Pandemic Unemployment Assistance claims filed using stolen identities, in a scheme exceeding $1 million that also touched SBA’s Economic Injury Disaster Loan program.

“Following his arrest and initial appearance, Ezewu violated the conditions of his pre-trial release and an arrest warrant was issued,” the department said.

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Announcing the list, the US Department of Labour’s Inspector General, Anthony P. D’Esposito, said the initiative was intended to intensify efforts to locate the fugitives and recover money allegedly stolen from taxpayers.

“Today we are introducing our first-ever Most Wanted List, targeting 16 fraudsters who stole more than $55 million from hardworking American taxpayers,” D’Esposito said.

He added that the agency was working with the White House Fraud Task Force to locate those listed and account for the money involved.

“In partnership with the White House Fraud Task Force, we are using every resource possible and will not stop until every one of these criminals is in handcuffs and every stolen dollar is accounted for. No more excuses. No more hiding. The hunt is on,” he added.

The department said the list was intended to mobilise members of the public, the media, online platforms and international partners to help locate the fugitives.

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It also announced the arrest of another person on the list, Leslie Kaciban, in Hungary. Kaciban is awaiting extradition to the United States over an alleged labour racketeering scheme involving approximately `$4m in illegal kickbacks.

The department urged anyone with information about suspected wrongdoing involving its programmes or operations to contact its Office of Inspector General.

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Four killed, many others injured as container truck falls on bus in Lagos

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Four people have reportedly died and 16 others injured after a container truck fell on a Toyota Hiace bus on Berger Bridge along the Ibeju-Lekki Expressway in Lagos State.

According to the Lagos State Emergency Management Agency (LASEMA), the accident occurred in the early hours of Wednesday, October 28, 2026, inward Eleko, after an articulated truck carrying a 20-foot container collided with the bus, registered as GME-589 ZU.

The agency said preliminary findings indicated that the truck was travelling uphill at excessive speed when it encountered the bus. The driver reportedly lost control while attempting to avoid a collision, causing the truck and its container to fall on the vehicle.

“The impact was severe and tragically resulted in the loss of four (4) adult males who were confirmed dead at the scene, while sixteen (16) other adult males sustained varying degrees of injuries,” LASEMA said.

The agency reportedly dispatched its Beta Whales Team from the Epe Base after receiving a distress call. The team worked with the Federal Road Safety Corps (FRSC) and the Nigeria Police Force to secure the scene and assist the victims.

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The injured passengers were given first aid before being transported to Epe General Hospital for further treatment.

LASEMA said a private crane had been secured to lift the overturned truck and container to enable responders to safely recover the bodies of the deceased. The recovery operation was ongoing, while traffic management measures were introduced along the affected stretch of road.

The Lagos State Government expressed its condolences to the families of the deceased and wished the injured victims a speedy recovery.

Meanwhile, in separate incidents on Wednesday, emergency responders also attended to two other road crashes in Agege and Igando.

In Agege, a truck rammed into a solar-powered streetlight pole near Vetland School, inward Pen Cinema, along Old Abeokuta Road, before mounting the road median and obstructing traffic.

LASEMA attributed the incident to reckless driving. No casualties were recorded, although the truck and streetlight pole were damaged.

The agency diverted traffic while recovery operations were carried out. Its heavy-duty recovery equipment was used to remove the truck, which was taken to Abattoir Police Station for investigation and safekeeping. The road was subsequently cleared and reopened.

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In Igando, a DAF truck collided with a Toyota Corolla at Lanre Bus Stop along LASU-Igando Road.

LASEMA said preliminary information indicated that traffic had built up because of a broken-down truck on the opposite side of the road. The DAF truck was reportedly driving against traffic when it collided with the Corolla.

The crash obstructed part of the road inward Igando. The Corolla driver sustained a minor head injury and was taken to Igando General Hospital by an associate. No deaths were reported.

The Corolla was towed to Igando Police Station, while LASEMA deployed its heavy-duty recovery equipment to move the DAF truck to a lay-by and restore traffic flow. The operation was still ongoing at the time of the report.

The Lagos State Government reiterated its commitment to protecting lives and property through emergency response operations and commended LASEMA and the other agencies involved in handling the incidents.

LASEMA also advised motorists to observe speed limits, avoid driving against traffic, refrain from reckless manoeuvres and ensure their vehicles are mechanically sound before travelling. Residents were urged to report emergencies through the state’s toll-free lines.

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