A Grade “A” Customary Court in Ibadan docked 67-year-old Segun Oyedepo, the owner of Fedeco International College, on Wednesday for allegedly embezzling funds intended for the National Examinations Council, or NECO, for pupils.
Oyedepo, who entered a not guilty plea, is accused of stealing and getting money by deception.
The defendant is accused of committing the act at the aforementioned school between September 2023 and June 2024, according to the prosecutor, Philip Amusan, who spoke in court.
Amusan claimed that the defendant got N1.7 million through deception, which was intended to be used for the NECO registration of roughly 13 students.
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He claimed that the defendant failed to register the students despite receiving payment from one Hammed Olayode and twelve other people.
According to Amusan, the offence violates Oyo State, 2000’s Criminal Laws, Sections 419 and 390(9).
Mrs. Sukurat Yusuf, the president of the court, granted the defendant bail in the amount of N2 million along with two sureties in the same amount.
Yusuf deferred the case until July 19 for a hearing, ruling that one of the sureties had to be a relative of the defendant and provide proof of two years of tax clearance.
