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FG Uncovers N1.2bn Fraud At FUTO, UNIABUJA; Vice-Chancellors In Trouble

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The Federal Government’s audit report has revealed irregularities of more than N1.2bn in 2015, 2016 and 2017 finances of the Federal University of Technology, Owerri, Imo State, and the University of Abuja.

The 2017 report from the Office of the Auditor General of the Federation titled, ‘Auditor General’s Annual Report on the Accounts of the Federation of Nigeria 2017,’ showed that FUTO had more than N611m irregularities in its expenses between 2016 and 2017, while UNIABUJA had over N560m for 2015.

The report noted that the vice-chancellors of the universities during the years under review must be made to answer for the money unaccounted for.

For FUTO, the report highlighted about 10 areas where there were financial infractions between 2016 and 2017. These ranged from “payments without raising payment vouchers put at N43,543,129; payment of unapproved allowances put at N244,325,021, and payment to the contractor for jobs not done at N34,252,304.”

The report partly read, “During the periodic checks conducted at the Federal University of Technology, Owerri, for the period January 1, 2016, to December 31, 2017, the following were observed; payments without raising payment vouchers – N43,543,129.34. Payments totalling N43,543,129.34 were made without raising payment vouchers, in violation of Financial Regulation 601 which provides that payment vouchers must be raised before any payment is made.

“Response from the university on the above issue failed to address the issue.

“The recommendation is that the vice-chancellor has been requested to account for the sum of N43,543,129. Also, sanctions stated in financial regulation 3106 should be imposed on the vice-chancellor.

“Also, the payment of unapproved allowances put at N244,325,021.26. It was observed from sampled payment vouchers that a total of N244,325,021.26 was paid to staff as allowances for recharge cards, council incentives, security shift, contract addition allowances, etc., from personnel cost between 2016 and 2017. Documents conveying approval for such payments from the National Salaries, Incomes and Wages Commission could not be made available during the periodic check.”

For the University of Abuja, the report noted that the institution had unaccounted payments put at N17,924,585; payment of unapproved allowances at N84,748,382, among other infractions.

The report added, “During the periodic checks of the University of Abuja, for the 2015 financial year, the following observations were made. One, unaccounted payments – N17, 924,585; 27 payment vouchers totalling N17,924,585 were paid to a staff of the university for printing services and jobs. The amount should have been made directly to the University Bookshop or University Printing Press rather than the personal account of the officer.

“However, there was no record of the utilisation of the various amounts collected by the payee in order to ascertain transparency, probity, and accountability of the transactions. Our recommendation is that the vice-chancellor is required to account for the sum of 17,924,585 and forward evidence to me for confirmation.

“Also, the payment of unapproved allowances is put at N84,748,382. Furthermore, there is a diversion of funds through a fictitious contract which is put at N23,921,250.”

A civil society, Paradigm Leadership Support Initiative, while reacting to the report, asked the Independent Corrupt Practices and other related offenses Commission and Economic and Financial Crimes Commission to investigate the universities and recover allegedly misused funds.

The PLSI Executive Director, Olusegun Elemo, said in a statement, “Anti-corruption agencies, particularly the ICPC and the EFCC, should investigate the transactions and recover the money and return it to the federal treasury.

“The university authorities should also ensure strict compliance with relevant fiscal provisions and procurement laws in the implementation of new contracts.”

When asked for comment, spokeswoman for FUTO, Mrs Uche Nwaelue, asked our correspondent to forward to her a copy of the report, while promising to get back to our correspondent.

However, she had yet to get back to our correspondent as of the time of filing this report.

 

Punch

BIG STORY

UPDATE: Uncover Negligence, Deliberate Actions Behind Ibadan Stampede — Tinubu To Security Agencies

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President Bola Ahmed Tinubu has ordered an investigation into the incident at the children’s funfair in Ibadan, which resulted in the death of 35 persons.

In a statement issued on Thursday by Bayo Onanuga, his special adviser on information and strategy, the president called for a “thorough” inquiry to determine whether negligence or deliberate actions contributed to the stampede.

“In this moment of mourning, President Tinubu stands in solidarity with the affected families and offers prayers that the Almighty God will grant peace to the souls of those who have departed in this unfortunate event,” the statement reads.

“President Tinubu has urgently directed the relevant authorities to investigate the circumstances of this tragedy thoroughly. He emphasises that it is imperative to determine whether negligence or deliberate actions contributed to this painful incident, ensuring a transparent and accountable process.”

“The President urges the Oyo State Government to take every necessary measure to prevent such a tragedy from reoccurring.

“Among the essential actions are a comprehensive review of all public events’ safety measures, strict enforcement of safety regulations, and regular safety audits of event venues.”

The president also called on event organisers to prioritise the safety of all attendees, especially children.

He noted the importance of integrating professional security, protocol, and logistics at events to ensure the safety of all participants.

“Our children’s safety and well-being remain paramount. No event should ever compromise their safety or take precedence over their lives,” he added.

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2025 Budget Proposal Scales Second Reading At National Assembly

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The 2025 appropriation bill has passed the second reading at the national assembly.

The budget cleared the second reading during plenary on Thursday following an extensive debate by legislators in the Senate and the House of Representatives.

On Wednesday, President Bola Tinubu presented a record N49.7 trillion as the proposed budget for 2025 to a joint session of the upper and lower legislative chambers.

The lawmakers, during plenary on Thursday, took turns discussing the general principles of the money bill, offering recommendations that included thorough scrutiny of the budget breakdown during engagements with heads of ministries, departments, and agencies (MDAs).

Leading the debate, Julius Ihonvbere, majority leader of the green chamber, said the budget would improve the nation’s economy and consolidate the achievements of the president.

In his debate, Kingsley Chinda, minority leader, said Tinubu’s assertion that the budget would reduce inflation from the current 34.6 percent to 15 percent is “ambitious” and not realistic.

The ranking lawmaker said the allocation of N4.91 trillion to defence and security “will not take us to the promised land.”

He added that the budget should also prioritize human capital development and environmental sustainability.

“The budget might appear very beautiful, but there is much more for us to do as a nation,” Chinda said.

‘2025 BUDGET IS INADEQUATE’

Oluwole Oke, a Peoples Democratic Party (PDP) member from Osun, stated that the budget is “grossly inadequate” and won’t sufficiently fund development projects.

Abdussamad Dasuki from Sokoto supported Oke’s position, describing the budget as inadequate.

“The budget may look robust on paper, but if you convert it to dollars, you will realize that the budget is not where we should be,” he said.

“With the challenges we have, if you convert it to dollars, the nation will be inadequately provided for. I urge the relevant committees, particularly the committee on finance, to work on this.”

Also speaking, Ismaila Dabo from Bauchi called for an increased allocation to the agricultural sector to boost food production.

“Inflation is on food items, and Nigerians are finding it difficult to cope. I urge the house to do everything possible to ensure enough allocation is reserved for agriculture,” he said.

Some lawmakers from the north-east and south-east geopolitical zones demanded more funding for their development commissions.

The lawmakers unanimously voted in support of the bill when it was put to a voice vote by Benjamin Kalu, the deputy speaker, who presided over the session.

Kalu referred the bill to the committees on appropriation for further legislative work.

He said the bill will be passed before January 30.

In November, both chambers approved the 2025-2027 medium-term expenditure framework (MTEF) and fiscal strategy paper (FSP) of the federal government.

The parliament passed the oil benchmark prices of $75, $76.2, and $75.3 for the daily crude oil production of 2.06 million, 2.10 million, and 2.35 million for the 2025-2027 fiscal years respectively.

Also, the national assembly maintained the gross domestic product (GDP) growth rate projected at 4.6 percent, 4.4 percent, and 5.5 percent for the three years in the fiscal strategy paper.

The lawmakers endorsed the projected exchange rate of N1,400/$ but said it is subject to review in early 2025 according to monetary and fiscal policies.

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JUST IN: Ooni’s Ex-Wife Naomi, 7 Others Arrested Over Children’s Funfair Stampede In Ibadan

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The Oyo State Police Command has announced the arrest of the ex-queen of the Ooni of Ife, “Naomi Silekunola”; the Principal of Islamic High School, Ibadan, “Fasasi Abdulahi”; and six others in connection with the deaths of several children during a stampede at a funfair in Ibadan, the state capital, on Wednesday.

The ex-queen was identified as the primary sponsor of the event.

Furthermore, the number of children who have died from the stampede has increased to 35, while six others are critically injured, according to a statement issued on Thursday by the State Police Public Relations Officer, “Adewale Osifeso.”

The event, which was held at the Islamic High School, Basorun, Ibadan, was intended for 5,000 children, but reportedly over 7,500 attended.

 

More to come…

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