About toluene drying ― You may consider drying toluene with CaH2, with anhydrous CuSO4 or MgSO4, or with type 4A molecular sieves (≥ 3% g/cm3); and (preferably) further fractionally distilling it from its mixture with the added desiccant, or/and from added P2O5; but rejecting the very first distillate, possibly up to a few wt%, if distilled at what may be judged as significantly below the normal boiling point of pure toluene (110.6 °C), preferably corrected for the actual atmospheric pressure. You can conveniently store dried toluene over 4A (or 3A) molecular sieves.
In case you find interesting toluene extraction from wastewater, you may want to check also the following discussion: https://www.researchgate.net/post/what_is_the_best_way_and_economical_procedure_to_extract_toluene_diverts_from_wastewater
About tetrahydrofuran (THF) drying ― THF has an azeotrope with water (boiling point: 64 ºC; 5.3 wt% H2O). For higher water content, the THF/H2O solvent mixture can be distilled up to the azeotropic composition. A variety of methods can be adopted to further dry (or break) the mentioned H2O/THF azeotrope; such as azeotropic distillation using n-pentane as entrainer, water absorption with molecular sieves (5A) or CaCl2, or freezing to remove ice.