FG to probe missing N1.7bn in UniAbuja

BY SONI DANIEL
ABUJA (VANGUARD) —The Federal Government has ordered an immediate probe into the circumstances surrounding the disappearance of N1,763, 965,000 from accounts of the embattled University of Abuja.
Similarly, the government has directed the Governing Council of the institution to take urgent steps to recover N266 million trapped in failed banks and report back to government.
These recommendations are contained in a White Paper on the report of the Visitation Panel into the affairs of the University of Abuja between 2004 and 2010.
The panel, which was headed by Prof. D. A. Guobadia, submitted its report to the government in June last year but the views of the administration on the submission of the panelists, have just been released.
Disappearance of huge sums of money from UniAbuja
In the White Paper, which was exclusively obtained by Vanguard yesterday, the government frowned at the disappearance of the huge sum of money and other financial recklessness which took place in the institution within the period under review.
The 54-page report, which covered the 10-point term of reference given to it by the government, detailed how the university was made to lose various sums of money and its gradual degeneration into the present state.
The report stated: “The periodic reports of the internal auditors revealed a number of weaknesses and complete non-adherence to suggestive measures by the management of the university.
“Panel observed that out of N10,681,315,000 cash generated by the University of Abuja in 2009/2010 financial year, only N8,917,730,000 was lodged in banks while the balance of N1,763,965,000 was not banked.
“By December 2010, the amount had not been banked and no action had been taken to discipline those involved in the disappearance of the said amount”.
The White Paper said, “The visitor frowns at the inability of the management to exercise financial control over the institution and hereby directs the council to take immediate steps to recover all the money”.
Apart from the missing funds, the panel noted with dismay the non-maintenance of records of grants and subventions released by the government to the institution over the years.
Besides, the panel discovered to its chagrin that most items which should have been procured through contracts were purchased by cash over and above approved limit of N200, 000.
The panelists noted, “the frequency of individual cash advances for purchases was high, officers were granted multiple advances and many of them not retired. Thus, at the end of December 2010, the unretired advances stood at N210, 318, 712.00.
N.2m unretired advance
The government also raised the alarm on the use of 97 bank accounts in 16 banks by the authorities of the university and asked for a reduction in the number, as well as the use of e-banking to reduce the burden of those dealing with it.
It was not, however, clear yesterday whether the implementation of the White Paper will still go ahead or be put on hold until another visitation panel, currently looking into affairs of the troubled institution, turns in its report.
The Special Presidential Visitation Panel was empanelled recently following the crisis over the suspension of many courses following non-accreditation by the relevant supervisory bodies, owning to observed inadequacies on the part of the institution.
The scrapping of many of its academic programmes prompted the aggrieved students to petition the Presidency to intervene.
The fate of the students now hangs in the balance except the government takes immediate steps to find a remedy to their problems.
Other members of the Guobadia-led panel, were Prof A. Uba, Mrs. O. O. Odegbaro, Mrs. Elsie Achukwu, Eng. J. O. Fadare, Alhaji M. J. Yusuf and Mr. H. O. Anaziah.