How Covenant University lecturer allegedly stole N180m, bought house in Lekki, flew helicopter to work
- EFCC's net has reeled in a lecturer at the prestigious Covenant University in Ota, Ogun state for reportedly defrauding the higher institution out of a whopping N180m
- The lecturer, an IT guru, was said to have diverted students' school fees paid into banks into his own private account for years
- He was said to have landed into trouble after his secret lavish lifestyle was discovered by the school authorities who handed him over to the law
A senior lecturer in the Information Technology department of the Covenant University has been arrested by the Economic and Financial Crimes Commission (EFCC) for allegedly diverting millions of the higher institution’s funds into his private account.
The Nation reports on Saturday, May 18 that the unnamed lecturer confessed to converting Covenant’s N180m into his own private use.
The funds stolen were mainly school fees paid by students into the accounts of the university in banks but were diverted into the IT guru’s private account.
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According to the report, the lecturer perfected his act over the years and siphoned millions before any wrongdoing were suspected.
The man concealed his loot by from public glare by maintaining a house in the school at Ota, Ogun state where he lived with his wife even though he owned a mansion with flashy cars in Lekki area of Lagos state.
He was said to have been caught after always opting to fly to back to school in a helicopter which landed a little distance away at ex-president Olusegun Obasanjo’s The Bells University after weekends of lavishness at his mansion with his wife.
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His helicopter flights got the attention of the school, wich put him under surveillance and eventually handed him over to the EFCC.
The suspect is said to have accepted to pay back N56million of the stolen funds which he still has in his possession.
Meanwhile, Legit.ng reported recently that Ibrahim Magu, the acting chairman of the EFCC, on Wednesday, May 15, advised Nigerian students to desist from cybercrimes, also known as yahoo-yahoo and fraudulent activities related to it.
Magu said this as he was giving a lecture at the University of Ilorin, Kwara state, on the dangers of internet fraud.
Represented by Olamide Sadiq, the commission's head advance fee fraud and other fraud related offences, Ilorin zonal office, Magu stated that whoever is arrested for such offences must be made to face the full weight of the law.
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