The Economic and Financial Crimes Commission, EFCC, has re-arraigned the vice chancellor of the Federal University of Technology, Akure, Adebiyi Daramola, for alleged fraud.
Re-arraigned with the vice chancellor, is the bursar of the university, Emmanuel Oresegun.
They were brought before Justice W.R. Olamide of the Ondo State High Court, Akure on Thursday on a 9-count charge of obtaining money under false pretense.
They were also accused of abuse of office, misappropriation of funds and stealing the sum of N157million.
The accused were docked, following a petition to EFCC sometime in 2016.
They were alleging to have connived with the governing council of the university to entrench unmitigated corruption, fraud, mindless stealing of the funds.
It was alleged that the VC misapplied funds, collects housing allowances whilst living in government residential quarters, and drew furniture allowance annually instead of once in 4 years as approved by Salaries and Wages Commission.
He was also alleged to be using public funds to finance private expenses, illegal payment of allowances to Council members, among others.
The accused persons, however, pleaded not guilty to the charges preferred against them.
In view of their plea, prosecution counsel, Benedict Ubi, prayed the court for a trial date.
Counsel to the vice chancellor and the Bursar, urged the court to allow the defendants continue to enjoy the bail earlier granted them by Justice S. A. Bola on the 14th of February, 2017.
The EFCC counsel did not oppose the application.
Justice Olamide granted bail to the accused on the previous terms and adjourned the case to 3, 4, 10 and 11 of May for hearing.