Education Mar 5, 2023

Elizade University Ex-VC Gets Five Years Imprisonment for $1.2m Fraud

Professor Adekunle Oloyede, a former Vice Chancellor of Elizade University in Ondo State, Nigeria, has been sentenced to five years imprisonment for committing $1.2 million fraud. The court found him guilty of false pretences, stealing, and fraud for fraudulently obtaining funds from Mike Ade Investment Limited under the false pretence of constructing a hostel for the institution. The court ordered the defendant to refund $131,500 within six months, failure to which the defendant would serve an additional one year in prison.