Reps probe nine universities over alleged financial discrepancies

The House Committee on Education has directed the Vice-Chancellor of the University of Lagos, Professor Folasade Ogunsola, to submit the institution’s budget records for the years 2024, 2025, and 2026. She is also required to appear before lawmakers next week regarding an alleged discrepancy of 7.1 billion naira in the university’s financial records.

Committee Chairman Abubakar Fulata announced the directive in a statement issued on Saturday, following an oversight visit to various universities and inter-university centers in the South-West region. He expressed concern over financial management practices observed during the visits. “In one instance, we found that 12 billion naira was reported as income, with only 8 billion naira accounted for in expenditures, leaving a discrepancy of 4 billion naira unaccounted for,” Fulata stated.

The chairman emphasized the importance of transparency and accountability within public universities, urging vice-chancellors and their management teams to provide detailed accounts of government allocations and internally generated revenues. He underscored that sound financial management is critical for enhancing the quality of university education and ensuring public funds are spent appropriately.

Fulata reassured that the upcoming 2027 general elections would not interfere with the committee’s oversight responsibilities. He affirmed the commitment to continue monitoring public institutions to ensure they meet their responsibilities, regardless of the political climate.

The committee also urged university authorities to adhere to the federal character principle in staff recruitment and student admissions, promoting fairness and equitable representation.

In addition to the University of Lagos, other institutions that received directives include Obafemi Awolowo University, Ile-Ife; Federal University Oye-Ekiti; Federal University of Technology, Akure; and Federal University of Health Sciences, Ila-Orangun. These universities are required to update their financial records and provide detailed reports on the execution of their 2024, 2025, and 2026 budgets.

During the committee’s visit, Professor Ogunsola was reportedly unavailable, and her representatives were unable to sufficiently explain the alleged 7.1 billion naira discrepancy in the university’s financial documentation for 2024 and 2025.

The review included visits to other institutions such as the University of Ibadan, Adeyemi Federal University of Education, Ondo; Federal University of Agriculture and Development Studies, Iragbiji; Federal University of Technology and Environmental Studies, Iyin-Ekiti; and the Nigeria French Language Village in Badagry.

This oversight exercise is part of the National Assembly’s mandate to scrutinize public expenditure, assess budget implementation, and ensure that government institutions utilize allocated funds effectively. The committee aims to strengthen financial accountability and address administrative challenges that impact the quality of university education.

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