Recently, they have been reports of misappropriation and embezzlement of funds by the management of Nigerian Universities, where schools like Federal University of Technology Owerri (FUTO) and University of Abuja were all indicted. Sequel to this, the Bursar of University of Ibadan was invited by the House committee on Public Accounts to answer allegations bothering on fraud and misappropriation of public funds by the institution where he made a shocking revelation.
The Bursar, Michael Alatise, on Thursday shocked members of the House of Representatives’ Public Accounts Committee when he informed them that his institution could not render audited accounts because the external Auditor engaged to do it became blind on the job.
This was just as the lawmakers discovered that the said blind external Auditor was still being paid retainership by the University as recent as last year.
The panel, on hearing this, expressed surprised because the Bursar was taking the House Committee, and by extension the whole country, for a ride, just as it ordered a full investigation into the University’s activities.