The Vice Chancellor of the Federal University of Agriculture, Abeokuta, Olusola Oyewole, and Pro-Chancellor, Adeseye Ogunlewe, have finally been released on bail.

According to ceoafrica, Both men were charged last Friday at an Abeokuta court for allegedly mismanaging the university’s N800 million.

Although they were granted bail on Friday, the bail conditions were not met early enough on that day. They consequently spent the weekend in prison before they were released on Monday.

The lead counsel for the accused, Benjamin Ogunmodede, expressed joy that his clients were released at about 5 p.m. on Monday.

“I can authoritatively confirm to you that the duo of Oyewole and Ogunlewe have just met the bail condition and have just been released now.

“I am just driving out from the court premises alongside with the them. They have been released from the prison to join their families,” Mr. Ogunmodede said.

A third person arraigned with the university vice chancellor and the pro-chancellor was also granted bail on Monday.

Moses Ilesanmi, the university’s bursar, was not granted bail on Friday as his lawyer did not conclude the bail application.

He was asked to remain in the custody of the anti-graft agency, EFCC, till Monday.

On his return to court, Mr Ilesanmi’s counsel, Adedamola Lapite, asked the court to grant his client bail in liberal terms pending the commencement of trial.

The defence lawyer added that the charges against Mr Ilesanmi were bailable.

The prosecuting counsel, Kayode Oni, however, opposed the bail application stating that the arguments brought forward by Mr Lapite were not valid.

‎The judge, O. Majekodunmi, having heard from both counsel, granted Mr Ilesanmi bail in the sum of N50 million and two sureties in like sum.

‎Mr Majekodunmi emphasised that the two sureties must be owners of landed property within the jurisdiction of the court. He added that the sureties must deposit their title documents with the court.

The judge also ordered that the sureties be level 15 officers in the Ogun State Civil Service and must deposit their international passports with the court.

The trial of the three university officials was adjourned to December 16, 19, and 20.