Ex-CBN staff forfeits property to EFCC for operating fake polytechnic

Seized Property By EFCC

The Economic and Financial Crimes Commission, EFCC, Ibadan zonal office, on Monday‎ executed the interim order granted by a Federal High Court, Ado-Ekiti, in respect of the property of Teedek Polytechnic, Ilogbo- Ekiti.

The institution was allegedly being operated by Johnson Babalola, a former Principal Manager of the Central Bank of Nigeria, CBN, without the requisite government approval.

A petition was written against the accused‎ by the National Board for Technical Education, NBTE, in Kaduna, alleging that he was operating the illegal polytechnic.

The board said that the accused had allegedly extorted gullible students, who were not aware of the status of the institution.

The petitioner said some of the students of the polytechnic had earlier reported the institution to the board and the school had been published as an illegal institution in some national dailies.

The petitioner said that the accused failed to stop the fraudulent act and as such continued to fleece innocent students through the polytechnic.

Property Seized By EFCC from EX-CBN Staff
Property Seized By EFCC from EX-CBN Staff

The petitioner said that Mr. Babalola had sometime between the month of August 2013 and March 2015 intended to defraud Adakeja Thomas Olusola at Ilogbo Ekiti within the jurisdiction of the court to the tune of N118,000 having falsely represented that the money was tuition fees.

He allegedly told the victim that money was for the award‎ of National Diploma Certificate by Teedek Polytechnic.

However, the EFCC arrested the suspect and subsequently arraigned him on Monday at a Federal High Court, Ado-Ekiti, before Justice Taiwo Taiwo for operating an illegal polytechnic.

Justice Taiwo after the trial ordered the confiscation of the polytechnic located on Km 4 Ido-Ijero Ekiti Road, Ilogbo Ekiti, Ekiti State.

When contacted, the Zonal Public Relations Officer of the EFCC, Ayo Oyeweso, confirmed the order and confiscation of the property.

“The order of the court is pending the final determination of prosecution of the accused person charged with advance fee fraud and operation of illegal Polytechnic,” he said.


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  • amazing2012

    Thieves collecting from thief ? Or what ?
    What has has property got to do with the crime ?
    Is the property bought with the proceed of the crime ?
    Why can’t you guide or force him to register or convert the school to another meaningful venture !
    There is more on this story !

    • OmoLasgidi

      Hmmmm. Na so I think too o…