The Economic and Financial Crimes Commission on Friday arraigned a former Minister of Works, Senator Adeseye Ogunlewe, and two others for alleged N400m fraud.

Ogunlewe, who is the Pro-Chancellor, Federal University of Agriculture, Abeokuta, was arraigned alongside the Vice-Chancellor of FUNAAB, Prof. Olusola Oyewole; and the Bursar of the institution, Mr. Moses Ilesanmi, before the Ogun State High Court, Abeokuta, on 18 counts, bordering on conspiracy, stealing, obtaining money by false pretences and abuse of office.

They however pleaded not guilty to all the charges.

One of the counts read, “That you Senator Ogunlewe, Prof. Olusola Oyewole and Moses Ilesanmi between the month of September and October, 2013 at Abeokuta within the jurisdiction of this honourable court with intent to defraud did deposit the sum of N400m, property of Federal University of Agriculture, Abeokuta in a fixed deposit account without due process.”

In view of their plea, the prosecution counsel, Bennedict Ubi and Festus Ojo, asked the court to remand them in prison custody pending the commencement of trial. But the counsel for the first, second and third defendants, Wale Adesokan (SAN), Benjamin Ogunmodede and Lapite Ademola respectively, urged the court to admit them to bail having filed the various applications before the court.

The Presiding judge, Justice O. O Majekodunmi, granted the first and second defendants (Ogunlewe and Oyewole) bail in the sum of N50m with two sureties in like sum and that the sureties must own properties within the court’s jurisdiction and one of them must be a civil servant on grade level 15.

The court ordered that the defendants be remanded in prison custody pending the perfection of their bail conditions and they are also to submit their passports to the court registrar.