Segun Oyedepo, a 67-year-old proprietor of Fedeco International College in Ibadan, appeared before a Grade ‘A’ Customary Court on Wednesday, facing charges of theft and obtaining money under false pretenses. Oyedepo, who pleaded not guilty, stands accused of embezzling funds intended for the National Examinations Council (NECO) fees for students.

Prosecutor Philip Amusan informed the court that the alleged crime occurred between September 2023 and June 2024. According to Amusan, Oyedepo fraudulently collected N1.7 million from Hammed Olayode and 12 other parents for the NECO registration of their children but failed to complete the registrations.

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The charges against Oyedepo are said to violate Sections 419 and 390(9) of the Criminal Laws of Oyo State, 2000.


Presiding over the case, Mrs. Sukurat Yusuf granted Oyedepo bail, setting the amount at N2 million with two sureties in the same amount. One of the sureties must be a relative of the defendant and provide evidence of two years of tax clearance. The case has been adjourned until July 19 for further hearing.