University administrators have been accused of cooking up figures in the yearly accounts to evade payment of operating surpluses.
Senator Solomon Adeola
Senator Solomon Adeola, the Chairman of Senate ad-hoc Committee on Misuse, Non Remittance and Fraudulent acts of Internally Generated Revenue (IGR) by government agencies, on Wednesday accused university administrators of cooking up figures in the yearly accounts to evade payment of operating surpluses.
According to The Nation, Adeola said money involved runs into hundreds of millions naira.
He said the universities failed to pay the money to the government as revenue as required by the Constitution and the Fiscal Responsibility Act.
Speaking during the committee investigative hearing of Federal University of Technology, Minna, Niger State, Adeola noted that so far all the 12 federal universities that have so far appeared before the committee presented fictitious documents with contradictory figures all in an attempt to justify why they did not remit a kobo to the Consolidated Revenue Fund of the federal government as required by extant laws.
He said: “It is regrettable that the financial management of our universities is in such a terrible state with many of them like the FUT, Minna presenting obviously fictitious documents and figures all in an attempt to exonerate themselves from non remittances of revenue generated while completely expending all revenues generated on sometimes frivolous expenditure heads.
“I believe there is serious fraud going on in FUT, Minna which will be revealed as they cannot reconcile the figures in their financial presentation.”