Lawmakers probe federal universities’ books, query N7.1bn excess

A House of Representatives committee has flagged financial discrepancies in South-West federal universities and directed five of them, including the University of Lagos and FUTA, to account for their budgets.

The House of Representatives Committee on University Education has uncovered alleged financial discrepancies in the records of some federal universities in the South-West, and it has directed their vice-chancellors to account for public funds.

In a statement on Saturday, published by The PUNCH, committee chairman Abubakar Fulata said the oversight visit exposed financial inconsistencies, a lack of transparency and possible non-compliance with budgetary provisions.

“In some cases, the documents submitted contradict each other. You claimed to have generated N9bn and spent N10bn—where did you get the N1bn from?” he said.

Universities directed to update records and submit 2024–2026 budget reports:

1. University of Lagos, whose vice-chancellor, Prof. Folasade Ogunsola, must appear next week over an alleged N7.1bn excess
2. Obafemi Awolowo University, Ile-Ife
3. Federal University Oye-Ekiti
4. Federal University of Technology, Akure
5. Federal University of Health Sciences, Ila-Orangun

Other universities visited during the exercise:
6. University of Ibadan
7. Adeyemi Federal University of Education, Ondo
8. Federal University of Agriculture and Development Studies, Iragbiji
9. Federal University of Technology and Environmental Studies, Iyin-Ekiti

The committee also visited the Nigeria French Language Village, Badagry.

In 2024, the same committee moved to investigate South-South universities over irreconcilable data, which suggests the problem reaches beyond one region.

With the election season approaching, Fulata insisted that lawmakers would not be distracted from oversight, which puts the spotlight on the University of Lagos’s appearance next week.