chukzyfcbb:
Assuming he stole 200m and invested all into the money market, even if he pleads guilty and returns the whole 200m blaming the devil.

Baba will be cooling off with nothing less than 25m naira gain, no sweat.

The guy had the mind to steal N180m...
And yet dont have the common sense to lay low .....
And quietly relocate to another country to start a new life ....

the guy can't even lay low and be low-key enjoying his spoils.
He didn't even take it easy. A whole chopper to the neighboring school. Ode buruku

grandiose4ever:
It is very possible that sort of fraud happens. If it's from IT dept, the uni won't know quickly. Covenant's school fees is not exactly flat, so the university can only predict it's income. For instance, a particular class may have some students paying 853k, another student paying 830k, another 825k - most parent never check the breakdown as CU never really offers a breakdown.

My roommie who was also my coursemate always had close to 70,000 more to pay than myself every year. I drew his attention to it, but he and his parents were unperturbed so I left the issue.

The variation in fees come from, maybe additional services requested by students who told the uni to charge it to their subsequent fees.

The IT dept would be the one to gather all charges incurred in other places and aggregate it with school fees. So a smart IT person can just add 5k to the school fees of everybody and even the VC won't know.
But I believe someone at DFS must have colluded with him to make this successful..

This is impossible without collusion of many departments. Doesn’t the university have bursary/accounts and internal audit departments?

If the IT succeeds in adding other charges to the fees payable as you posited, it will form part of the total bill receivable from the student and will have unique identifier for audit trail.

The debt will be standing against the student account in the bursary department which can only be liquidated by the payment made into the bank account to settle it. IT department should have no access to the bank account to know if settlement is made talkless of having authority to withdraw or transfer funds from the bank account.

It is the duty of Internal Audit department to do reconciliation to see that bills are matched with settlements and also validate all payments made out of the school account.

Two things are involved in this case, either he shared the 180m with his accomplices in other departments or there is much more than 180m missing such that 180m is just his own share of the loot.

KevMitnick:
Foolish Amateur, Rookie, Green Horn...Smh. Ever heard of laying low to avoid heat

It's very difficult to lay low on ill-gotten wealth. Even you talking wont know the spirit pushing you to do some things.

Only real geez can self-control themselves.

Horrible story
If he's been reported to both EFCC and Police, where is the name.
IT Department has no business with Deposit Money Banks Accounts of the School. He colluded with accounts department staffs.
You can't but a Lekki House, have flashy cars parked there and be flying to work in a chartered helicopter every time.
N180m cannot fund this. Too small.
How much is a helicopter ride? Even musicians don't fly helicopters in their music videos...
Too many lies mixed with the crime here to make it "fun readable"

HigherEd:
Both the school management and the thief are unwell. How does a staff siphon N180 million and you don't even know until you saw he was living larger than what he earns? Meaning he could have carted away with N1 billion and you won't even know...

They better get PwC or KPMG to audit their earnings and expenditure.

It shows u how rich d establishment is for them nt to hv detected such a sum without investigating

The money he stole is more that.Do you know how much a plot costs in lekki

ironheart:
Africans, steal money n will only think of spending. No investment. If he had started an IT company. He would have escaped the prowling eyes. Must you fly chopper?

no mind black man ooo

black man black sense

HigherEd:
Both the school management and the thief are unwell. How does a staff siphon N180 million and you don't even know until you saw he was living larger than what he earns? Meaning he could have carted away with N1 billion and you won't even know...

They better get PwC or KPMG to audit their earnings and expenditure.

That means their internal audit is getting things wrong... They might also have their own way of siphoning.

Like Yoruba will say the first money a child See it’s AKARA he will use it and buy . Who Dey enter okada go school when the money pill up to 1billion you quite Job and travel out with family.

HigherEd:
Both the school management and the thief are unwell. How does a staff siphon N180 million and you don't even know until you saw he was living larger than what he earns? Meaning he could have carted away with N1 billion and you won't even know...

They better get PwC or KPMG to audit their earnings and expenditure.

He was a smart guy who ate off the table of another 'eater'. He is not the real eater.

chukzyfcbb:
Assuming he stole 200m and invested all into the money market, even if he pleads guilty and returns the whole 200m blaming the devil.

Baba will be cooling off with nothing less than 25m naira gain, no sweat.

How?

AllenSpencer:
Smart guy

Are they looking for another IT staff? Am available

For your own share abi?

Gratefulheart01:


I tire o. The guy so stupid. He had his chance to make it for life but he blew it right there. Nigga so stupid

Make it by stealing?

Use better payment gateway dem no go gree instead they will go for Paystack or Rave. Baba obviously had access to the dashboard of these gateways and was transferring processed funds to his own bank account

grandiose4ever:
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/

grandiose4ever:

He dey rent chopper when even the VC no dey use chopper. Eleribu somebody...

Once heard of how a gateman with CBN colluded with other CBN staff to divert currency notes meant to be incinerated. Every body took their various share and only burnt half of the retired notes while gateman got his own share.
A week later the bastard gateman went to buy a Gwagon The authorities didn't even ask questions they just arrested him, and from there he led them to the rest.

Whatever you are doing, make sure you do it well & be professional, d moment d gate man came into the equation, the thing was guranteed to be a burst. But they where to greedy & amateurish to notice

They're probably integrated to a payment processor and the IT department handles this. They also maintain access to the dashboard where the bank account details of the school are configured to move funds from processor's pool account to school account. He probably swapped school account with his own account. The finance department are liable too... They relied only on the reports rather than reconcile with their bank statements. Idiots all

fkj950ax:
Horrible story
If he's been reported to both EFCC and Police, where is the name.
IT Department has no business with Deposit Money Banks Accounts of the School. He colluded with accounts department staffs.
You can't but a Lekki House, have flashy cars parked there and be flying to work in a chartered helicopter every time.
N180m cannot fund this. Too small.
How much is a helicopter ride? Even musicians don't fly helicopters in their music videos...
Too many lies mixed with the crime here to make it "fun readable"

Oga go just throw curse....rip in advance!

grandiose4ever:

He dey rent chopper when even the VC no dey use chopper. Eleribu somebody...

Once heard of how a gateman with CBN colluded with other CBN staff to divert currency notes meant to be incinerated. Every body took their various share and only burnt half of the retired notes while gateman got his own share.
A week later the bastard gateman went to buy a Gwagon The authorities didn't even ask questions they just arrested him, and from there he led them to the rest.

This kain thing dey painnnnnn..

Guy I know the guy. For your information school fees for 2017 session is yet to be touched by the management.
For you to know how rich Living faith/Covenantuniversity is . The only thing that made them to know is the useless lifestyle he began to live. Carrying chopper and going to Dubai like visiting Redemption camp. His name is Daniel

HigherEd:
Both the school management and the thief are unwell. How does a staff siphon N180 million and you don't even know until you saw he was living larger than what he earns? Meaning he could have carted away with N1 billion and you won't even know...

They better get PwC or KPMG to audit their earnings and expenditure.

AllenSpencer:
Smart guy

Are they looking for another IT staff? Am available

To steal your own too? Beware all eyes are on the dept now.

How stwpid can a smart thief be?! Helicopter?!

Another Naira Marley in Vogue. Stupid people everywhere flaunting anyhow

Law 1: Don’t flaunt your wealth Law 2: Loose lips sinks ship Awon eyan Naira Marley Why Dey can’t lay low? Odde

AllenSpencer:
Smart guy

Are they looking for another IT staff? Am available

*I am available*


Pls...