Vice-Chancellors of nine federal universities in the country are currently under probe over suspected financial irregularities under their watch.
The House of Representatives Committee on University Education accuses them of non-adherence to budgetary provisions in adjudicating monies, asking them to come forward and defend their budget spendings
The Chairman of the committee, Abubakar Fulata, disclosed this in a statement yesterday, following the conclusion of oversight visits to the universities
He said the visit revealed that the concerned vice chancellors had failed to comply with budgetary provisions as stipulated, resulting in financial inconsistencies, non- transparency, amongst others.
“In some cases, the documents submitted contradict each other. You claimed to have generated N9bn and spent N10bn—where did you get the N1bn from?
“In another instance, you will see N12bn generated as income and only N8bn spent, without any information regarding the whereabouts of the balance of N4bn.”
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In the case of the University of Lagos, the committee said the vice-chancellor sent a representative who could not explain key expenditures, especially the alleged N7.1bn excess in the institution’s 2024 and 2025 financial records.
Other institutions visited during the exercise included:
- University of Ibadan
- Adeyemi Federal University of Education, Ondo State
- Federal University of Agriculture and Development Studies, Iragbiji, Osun State
- Federal University of Technology and Environmental Studies, Iyin-Ekiti,
- Nigeria French Language Village, Badagry, Lagos State.
Admonishing vice-chancellors and their management teams to obey uphold transparency and accountability in their financial dealings, the committee said effective financial management was critical to improving the quality of university education.
As a result the committee has directed the management of the following universities to update their records 2024, 2025, and 2026 budget implementation:
- University of Lagos
- Obafemi Awolowo University,
- Federal University Oye-Ekiti
- Federal University of Technology, Akure
- Federal University of Health Sciences, Ila-Orangun, Osun State, to update their financial records and submit comprehensive reports on their 2024, 2025, and 2026 budget implementation.
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