An Osun High Court sitting in Osogbo, on Friday granted bail to the immediate former Vice-Chancellor, Obafemi Awolowo University (OAU) Ile-Ife, Anthony Elujoba, and the former bursar, Ronke Akeredolu.
The accused persons are facing a seven-count charge bordering on fraud, conspiracy and abuse of office.
Earlier, the accused were remanded in the Economic and Financial Crimes Commission (EFCC) custody.
The judge, David Oladimeji, granted Mr. Elujoba bail on self recognizance while Ronke Akeredolu, the former bursar, was granted a N50 million-bail and two sureties in like sum.
He said the sureties must be academic and high-ranking officers within the institution.
The judge, however, condemned the attitude of the staff and students of the institution in Ede on July 11, where the case was first heard.
That day, irate students and workers of the institution staged a protest and compelled the judge to reverse an order sending the former vice chancellor to prison custody.
They insisted he be remanded in an EFCC custody, a demand the judge later agreed to.
Justice Oladimeji said such an attitude could prevent the court from granting a bail to the accused, noting that the bail was granted in the interest of justice.
The accused persons were arrested on July 5.
The EFCC counsel, Festus Ojo, had told the court that the accused committed the offences while serving as the vice-chancellor and the bursar of the institution.
The accused, however, pleaded not guilty to the charges, while the judge adjourned the case until October 27 for hearing. (NAN)