The Bursar of the Federal University of Agriculture, Abeokuta, Moses Ilesanmi, has gotten bail.

Justice Olatokunbo Majekodunmi of the Ogun High Court sitting in Isabo, Abeokuta, on Monday admitted Ilesanmi to a bail of N50 million with two sureties in like sum.

Ilesanmi is standing trial over alleged financial crimes.

In his ruling, Majekodunmi ordered that one of the sureties must have a landed property within the jurisdiction of the court and must deposit the title documents with the court. She also ordered that the sureties must be on Grade Level 15 and above in the Ogun State Civil Service.

She also directed that Ilesanmi should be remanded in prison custody pending perfection of his bail terms.

The case was adjourned till Dec. 16 for substantive trial.

Ilesanmi was arraigned on Friday alongside the university’s Vice Chancellor, Olusola Oyewole, and pro-chancellor, Adeseye Ogunlewe by the Economic and Financial Crimes Commission (EFCC) on an 18-count charge of stealing and fraudulent conversion of the university’s funds to personal use.

All the accused, however, pleaded not guilty.

The judge granted Oyewole and Ogunlewe bail on Friday in the sum of N50 million and two sureties each but could not grant Ilesanmi bail because his application was not filed.

The bursar’s bail was applied for on Monday.

The judge had remanded him in EFCC custody pending the hearing and determination of the bail application.