A 67-year-old man, Segun Oyedepo, the proprietor of Sedeco International College in Ibadan, appeared before a Grade ‘A’ Customary Court on Wednesday, accused of embezzling funds intended for National Examinations Council (NECO) fees for students.
Oyedepo faces charges of theft and obtaining money under false pretenses. He entered a plea of not guilty.
According to the prosecutor, Mr. Philip Amusan, Oyedepo allegedly committed the offences between September 2023 and June 2024 at Sedeco International College.
It is alleged that he fraudulently obtained N1.7 million meant for NECO registration fees for approximately 13 students from one Hammed Olayode and 12 others, but failed to register the students as promised.
Amusan stated that these actions contravene Sections 419 and 390(9) of the Criminal Laws of Oyo State, 2000.
In response, the Court’s President, Mrs. Sukurat Yusuf, granted bail to the defendant in the sum of N2 million, requiring two sureties of equal amount. One surety must be a relative of Oyedepo and provide evidence of two years’ tax clearance.
The case has been adjourned until July 19 for further hearing.
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