A Magistrates Court sitting in Akure, Ondo State capital, on Friday, granted bail to the immediate past Vice-Chancellor of Elizade University, Ilara-Mokin in Ifedore Local Government area of Ondo State, Professor Adekunle Oloyede, who was arraigned over a seven-count charge of stealing, obtaining money under false pretence and felony leveled against him.
Oloyede, who was dragged to court by the proprietor of Elizade University, Chief Michael Ade-Ojo, has been in detention for the past eleven days.
Oloyede pleaded not guilty to all the seven -count charge preferred against him by the office of the State Attorney-General and Commissioner for Justice but was however, granted bail.
Reading the charge to him, it stated: “That you, Professor Adekunle Oloyede (male), on or about the 20th day of January 2015, at about 10:30am in Elizade University, Ilara-Mokin, in the Akure Magisterial district, did conspire with three others at large to commit a felony to wit, stealing and thereby, committed an offence contrary to and punishable under Section 516 of the Criminal Code, Cap 37, Vol. 1, Laws of Ondo State of Nigeria 2006.
“That you, Professor Adekunle Oloyede (male), on or about 10:30am in Elizade University, Ilara-Mokin, in the Akure Magisterial district, fraudulently induced and obtained the sum of $720, 000 from Mikeade Investment Limited for Duro Global Property Limited and two others at large under the pretext of constructing a 500 bed space hostel at Elizade University, using panel building technology from Australia and punishable under Section 419 of the Criminal Code, Cap 37, Vol. 1 Laws of Ondo State 2006.
“That you, Professor Adekunle Oloyede (male), on or about 6th July 2015, at about 10:30am in Elizade University, Ilara-Mokin, in the Akure Magisterial district, fraudulently induced and obtained the sum of $650, 000 from Mikeade Investment Limited, under the pretext of constructing the same 500 bed space hostel at Elizade University using panel building technology from Australia, contrary to and punishable under Section 419 of the Criminal Code, Cap 37, Vol. 1, Laws of Ondo State 2006.”
Oloyede’s counsel, Mr Olusola Oke, who asked for bail on liberal terms said the charges are according to him, “disjointed, distorted and not likely to be true” and added that “the allegations are bare and unsubstantiated. What we are trying to show is that there is no way the charges can be substantiated. No matter the flamboyance displayed in the charge, the professor is entitled to bail.”
In his ruling, Magistrate Ayodeji Akinsanya orders that the court grant the Vice-Chancellor bail at the sum of N2 million and two sureties in like sum, and should also deposit his two international passports to the court registrar, while the case was adjourned to February 7 and 8, 2017 for trial.