Update! FUNAAB Vice Chancellor, others refund N6.5m to EFCC over N800m fraud

Vice Chancellor of the Federal University of Agriculture Abeokuta, FUNAAB, Prof Olusola Oyewole, and others who are currently being investigated for N800 million fraud, have reportedly refunded N6.5 million to the EFCC.

Professor Olusola alongside the pro-chancellor of the school, Adeseye Ogunlewe and the bursar of the school Moses Olusola Ilesanmi, were arraigned before an Ogun state High Court sitting in Abeokuta on November 25th, on an 18-count charge of stealing and fraudulent conversion of the University property.

They were arrested on November 23rd. According to EFCC sources, the Vice Chancellor has refunded N2.5 million while the other accused persons have refunded a total of N4 million.