A Grade ‘A’ Customary Court sitting in Ibadan, Oyo State Capital, on Wednesday remanded one Segun Oyedepo, (67), the owner of Fedeco International College in Ibadan for allegedly embezzling money intended for the National Examinations Council (NECO) for pupils.
Oyedepo, who pleaded not guilty to the claims is accused of stealing and collecting money under false pretenses.
The prosecutor, Philip Amusan, told the court that the defendant allegedly committed the offense between September 2023 and June 2024 at the aforementioned school.
Amusan stated that the defendant fraudulently obtained N1.7 million, which was intended for the NECO enrollment of around 13 students.
He claimed that the defendant acquired money from Hammed Olayode and 12 others to register the students but failed to do so.
According to Amusan, the offence violates Sections 419 and 390(9) of the Criminal Laws of Oyo State, 2000.
Mrs Sukurat Yusuf, the Court’s President, admitted the defendant to bail in the amount of N2 million, with two sureties in the same amount.
Yusuf ruled that one of the sureties must be a relative of the defendant and provide documentation of two years of tax clearance before adjourning the case to July 19.