Justice Olatokunbo Majekodunmi admitted the bursar to bail in the sum of N50 million with two sureties in like sum.
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.
Majekodunmi directed that Ilesanmi should be remanded in prison custody pending perfection of his bail terms.
She adjourned till Dec. 16 for hearing in the substantive case.