IT Staff Defrauds Covenant University Of N180 Million, Rides Chopper To Work

[Edoman]

ALL is not well in the IT Department of Covenant University, Otta, Sentry can authoritatively report. A guru in information technology (IT) attached to that department is in the police net after he was found to have devised a means by which he diverted funds meant for the university into his private pocket. By the time the university woke up to his antics, he had succeeded in siphoning a whopping N180 million!

Before the bubble burst, not a few people were said to have wondered how the loved and trusted official was managing to get the funds with which he maintained a lifestyle the Chancellor of the university and Presiding Bishop of Living Faith Church Worldwide, Bishop David Oyedepo, would call “riotous living.” He was said to have bought some flashy cars which he kept in a mansion he bought with stolen funds in highbrow Lekki part of Lagos, even though he had a house in the school where he lived with his wife.

Every Friday, he would cruise with his wife to the posh house in Lekki to enjoy the weekend. But what really gave him away was the habit of flying back to his duty post in Otta in a chopper that landed at the premises of The Bells University, which is only a stone’s throw from Covenant University.

Tongues began to wag from onlookers who started to wonder who the big boy could be. Word about his lifestyle soon got to the authorities of Covenant University who decided to put him under surveillance and realised that he had stolen the university’s money amounting to more than N180 million. The funds were mainly school fees paid by students. The fees were paid into the accounts of the university in designated banks but the disingenuous inventor found a means of diverting the money into his private account. The discovery alarmed the authorities of the school. Oyedepo, sources said, was flabbergasted.

The IT guru was promptly reported to the police, who arrested him. Covenant University authorities expected the police to fast track his prosecution but that was not forthcoming. Words got to the university that the suspected fraudster was greasing the palms of the police. Again alarmed by the development, the authorities sidelined the police and handed the suspect to the Economic and Financial Crimes Commission (EFCC).

Upon interrogation, the suspect admitted stealing the said sum and even agreed to refund N56 million in cash immediately. Sentry will keep you posted on further developments....

https://thenationonlineng.net/n180m-fraud-rocks-covenant-university/

[Edoman]

Daniel Owolo, Covenant University N180M Fraud: What Actually Transpired


Covenant University N180Million Fraud Case:

Recent reports have it that, there has been a whooping sum of N180Million fraud rocking Covenant University for a couple of months now, and EFCC is now involved in the case.

The NationOnline Report:

https://thenationonlineng.net/n180m-frau...niversity/

https://twitter.com/independentngr/statu...22592?s=12

But here's more details about what apparently transpired:

Covenant University has remained the renowned awards-winning, best ICT-driven University both in Nigeria & West-Africa back to back to back within the last 10years; virtually almost all the official processes & activities within the university are executed/managed electronically via dedicated ICT platforms, and recently an electronic payment platform (called 'CUSanwo' i.e. 'CUPay') was put in place as an additional payment channel for students' school fees payment, and payment for services offered by the school such as CU Energy, CU Shopping Mall, etc.

The "CUSanwo" e-Payment platform was reported to be the University's Vice Chancellor's original research idea and concept. And soon became an adopted payment e-platform for the University, after one of the University IT/Technical support staff (by name Daniel Owolo) had convinced the VC that he could help me develop the payment platform. Afterwards, the VC packaged and presented project concept to the University's board, and approval was secured.

Going forward, The VC decided to work closely and hand-in-hand with Daniel (the "CUSanwo" developer), and sooner or later, CUSanwo became Promoted & choice platform for school fees payment.

Mr. Daniel decided to play a fast one on his Covenant University, his employer, by using the e-payment platform he developed to start diverting funds meant for CU into his own account.

And within a twinkle of an eye, his financial status and physical outlook changed: bought new exotic cars for himself and wife (also an AdminStaff of CovenantUniv), bought landed properties outside campus, bought new cars for campus "Uber" runs, chartered Choppers To-Fro Ota and Lagos, ... (even reportedly bought a N11Million worth Car as a gift to the VC, which was said to be rejected by the VC), ... etc.

Soon Daniel's office colleagues began to raise eyebrows, asking probing questions, ... yet, none could Xray him, despite not being able to imagine how a staff who roughly earns about N100k as an IT/Technical support staff, suddenly transformed financially overnight, ...

It was not until around the 2019 Presidential election period, that the University's Chancellor, Bishop David Oyedepo got to hear about the extravagant lifestyle of Daniel; The bishop was at his Polling Unit in Ado-ota to cast his vote, when the 'area boys' around started hailing him, with the hope that we would 'drop something for the boys', but when he wasn't yielding to their demands, they started grumbling, and exclaiming that, "was it not one of Oyedepo's boys that always give them cool cash, each time the guy flies to the area with his Chopper?, so why Oyedepo no wan 'settle' them na?"
This apparently caught Bishop's attention and that was how Daniel's name came up.

So without Daniel's knowledge, he was placed under surveillance and ... here you have it: N180Million of CU's money (mostly school fees) fraudulent diversion uncovered.

On the Bishop's order, he was apprehended by the internal security team of of the University, then grilled and with the hope of recovering as much as they can from him. He appeared to be cooperating with the securitu team, until suddenly a lawyer appeared claiming he was Daniel's attorney. And so the case became a state high court matter.

The matter was taken to court, only for Daniel & his lawyer to play another 'Dino Melaye's Strategy' on the court and the university. He claimed to be medically unwell, and as usual in Nigeria, the court granted him bail (but under police parole).

Amazingly, few days after Daniel was sighted moving around like a free man with nothing to fear: the police's position was that, the guy has been granted bail so since it's already a court matter, he can't be rearrested except he tries to "jump the bail"

So, the Bishop who may still be deep taken aback by this possibly 'all-time greatest' financial fraud within his camp, apparently had to resort to the EFFC to handle the matter. So Daniel is reportedly being held in EFCC's custody.

By the way, revelations coming out from the priliminary fact finding into the CUSanwo project and the N180million fraud case shows that:

The VC single-handedly conceived and executed the CUSanwo project hand-in-hand with Mr. Daniel alone, without following the University's official protocols for awarding and managing projects contracts (not even of such magnitude): usually, there are constituted university committees and panels, such as ICT/Software committee, etc. that review and examine every project proposals presented to the University; a project contract proposal defense panel (constituting of staff from all key and relevant departments and units of the university) is usually constituted to interrogate any contractor/vendor before any project contract is recommended and referred to the university management and then university board.

But in this CUSanwo case, the VC acted alone, in managing the project with Daniel.

Besides the fact the EFCC is now involved in Daniel's case, one of the many questions begging for answers among staff on the university campus remains: "How or Why would the VC single-handedly managed such huge project, without following due process or even ensuring proper controls are put in place?"

Why? How?

[Edoman]

N180M Covenant University Fraud: Suspect's Mother Resists Recovery Of Vehicle

N180m Covenant University fraud: Drama as suspect’s mother resists recovery of vehicle


Our Reporter by Our Reporter June 1, 2019



THE last is yet to be heard in the case of N180 million allegedly pilfered from the purse of the Covenant University, Otta, by a guru in its IT unit. There are indications that more people will be picked up in connection with the fraud.

Already, assorted cars have been recovered from the suspect, including one from his mother’s house in Otta.

But the recovery of the exotic car was not without some drama as the woman was said to have resisted the release of the car, saying she could not understand why an outsider would demand the release of a car her son bought for her.

The poor woman was said to have been particularly miffed that an institution with a religious background would be involved in the effort to strip her of her God-given property, saying that the joy of every mother is to enjoy the fruits of her womb.

But officials of the EFCC would have none of her homilies and have since taken the vehicle away as the anti-graft agency continues its effort to recover the loot.


https://thenationonlineng.net/n180m-covenant-university-fraud-drama-as-suspects-mother-resists-recovery-of-vehicle/