The JAMB registrar has threatened legal action against petitioners who came up with the allegations of fraud against him.
ASUU had on Thursday, December 29, 2016, petitioned the Economic and Financial Crimes Commission (EFCC), in regards to an act of fraud committed by Oloyede when he was the vice-chancellor of the University of Ilorin, Kwara State.
According to the Premium Times news, the JAMB registrar released a statement two days after, denying his involvement in such.
Members of ASUU alleged that Oloyede, together with Abdulganiyu Ambali, the current VC of the University were involved in a N2 billion scam.
Premium Times also reported that the JAMB executive member was guilty of "pension fraud, unremitted deductions from staff salaries, extortion of students, contract inflation and kick-backs; and unlawful payment to ex-principal officers of the university".
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Speaking concerning the alleged fraud, Oloyede said, “The subsequent introduction of IPSS made deductions by the university unnecessary.
"Government was making the deductions from the source and crediting the PFAs and these ignorant characters believe that my successor should also be nailed on behalf of the Federal of Ministry of Finance.
"If what was being deducted at the University of Ilorin had been abnormal, IPSS would have corrected the abnormality, common sense dictates."
Having given some explanation regarding the alleged act of fraud, Oloyede stated that he is not ruling out legal actions against what he termed as a campaign of calumny against him.