[Report]–OS Professional services (OSP) in an external financial auditing of the University of Ibadan has revealed how an overfunding of 5.1 billion naira was spent by the University management without relevant government approval.
This was contained in a financial audit report prepared by the OSP on the order of the Office of the Accountant-General of the Federation (OAGF) and obtained by THE PAGE.
According to OS Professional services (OSP), “the budgetary allocation for personnel cost increased over the years from N9.31b to N9.33b,N10.61b, N10.71b for 2011, 2012 and 2013.
“There was slight decrease to N9.66b in 2014 and finally increasing to N10.92b in 2015. The absolute percentage growth between 2010 and 2015 is 15% .
The actual cost of the institution also revealed upward movement for the period under review. The personnel cost increase from N7.82 to N7.94b, N8.70b,
N9.55b,N10.05b and N10.93b for 2010, 2011, 2012, 2013, 2014 and 2015 respectively.
“The increase in personnel emolument costs can be attributed to increase in salaries, number of employees and promotions between 2010 and 2015.
The additional number of staff employed were 42, 48, 311, 617, 459, 320, for 2010, 2011, 2012, 2013, 2014 and 2015 respectively.
“The proportion of academic and non- academic staff are skewed in favour of non–academic staff .The total number of non-academic staff.
employed for the period 2010-2015 is 1,510 when put in comparison with 285 academic staff over the same period.
“The university received total budgetary personnel cost allocation of N60.53b and spent N55.10b on personnel emoluments. The total over funding of
N5.1b was recorded for the period highlighted.
“The first four years witnessed an over funding of N1.50b, N1. 40b, N1.90b and 1.16b respectively, whilst year 2014 and 2015 have under funding of N.396b and N0. 404b respectively.
“The over funding of N5.95 billion for 2010-2013 was spent by the university management without relevant government approvals,” the report added.
While the report further faulted the University management on transparency, efficiency and accountability, it added that further review and forensic investigation should be immediately launched by the Office of the Accountant-General of the Federation to establish the whereabout of the money.
Further digging into the document revealed that a sum of N649,8773,537.36 was approved for the construction of National Institute of Maternal and Child Health on 10/08/2014.
According to the report, there was no evidence to show a documentary approval by the Ministerial Tender Board that is saddled with approval of contracts above N250,000,000.00, while further investigations by THE PAGE revealed that Love Integrated Nig. Ltd that got the contract do not have a registration certificate with the Corporate Affairs Commission.Please Follow Us @ThePageNg