Senate probes UI’s financial activities

Posted by admin Legislature, Senate Tuesday, October 9th, 2012

Written by Adebayo Waheed Tuesday, 09 October 2012

The Senate Committee on Education, on Monday, issued a two-week ultimatum to the authorities of the University of Ibadan to explain its financial activities and budgetary implementation in the last one year.

The committee, chaired by Senator Uche Chukwumerije, made the demand during its visit to the university as part of its oversight function in the education sector.

The committee chairman, who noted that there were grey areas in the presentation of the financial activities of the institution, said that further clarification would help the committee in the discharge of its duties.

“We wish to express our deep commitment to the growth of education, especially tertiary education in Nigeria. It is in this respect that we embarked on visitation of this institution.

“We need clarifications on the grey areas on the financial activities of the school. The clarifications, which must be forwarded to us within the period of two weeks, touching on funding, will give us insight into areas where the university needs help,” he said.

He cited what he described as inconsistency in the recurrent expenditure submitted to the committee by the university authorities.

“A review of the recurrent expenditure shows that telephone charges had no provision in 2011 budget. We require detailed explanation in writing to the committee within the stipulated period.

“There are also grey areas on Internally Generated Revenue. Information on other sources of revenue such as intervention funds, loans and grants, the international school and the zoo has not been captured in the document.”

The committee also raised questions on social responsibility projects that the 64-year- old institution had embarked upon.

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