Fraud Alert! EFCC Arrest FUTA Vice Chancellor, Bursar Over Abuse Of Office And Misappropriation Of Funds

Professor Adebiyi Daramola, Vice Chancellor Federal University of Technology, Akure, Ondo State and the Bursar, Emmanuel Ademola Oresegun, are being investigated at the Iyaganku office of the EFCC in respect of an alleged case of Abuse of Office and misappropriation of funds reported against them.


According to the petition submitted to the EFCC, it was alleged that the duo were involved in “Corruption, Fraud, Criminal Breach of Trust, Unlawful Enrichment and Conversion of millions of Naira of the University”.

The Vice Chancellor allegedly drew Furniture Allowance annually instead of once in 4 years as approved and was paying himself Housing Allowance while residing in the University’s Vice Chancellor’s Quarters. The petition further alleged that he diverted funds from various unrelated subheads to finance other projects without the appropriate approvals for such virement.

They are still undergoing interrogation as at report of this news.