Reps Demand Answers From Nine Universities Over Billions In Public Funds

The House of Representatives Committee on University Education has commenced an investigation into alleged financial irregularities involving nine federal universities and other tertiary institutions, demanding explanations from their managements over the utilisation of public funds.

As part of the investigation, the committee has directed the Vice-Chancellor of the University of Lagos (UNILAG), Professor Folasade Ogunsola, to submit the institution’s budget records for 2024, 2025 and 2026 and appear before lawmakers next week over an alleged ₦7.1 billion discrepancy in its financial records.

The committee chairman, Abubakar Fulata, disclosed this on Saturday in a statement issued after an oversight visit to universities and inter-university centres across the South-West.

Fulata said the exercise revealed inconsistencies in financial reports, poor transparency and possible violations of budgetary regulations in some of the institutions inspected.

He questioned how certain universities arrived at their reported revenue and expenditure figures, particularly where the amounts declared did not appear to correspond.

“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?

“In another instance, you will see N12bn generated as income and only N8bn spent, without any information regarding the whereabouts of the balance of N4bn,” he said.

According to information made available to Bush Radio Academy, the committee chairman urged vice-chancellors and their management teams to uphold transparency and accountability by providing proper records of government allocations and internally generated revenue.

He stressed that responsible financial management was essential to improving the quality of university education and ensuring that public funds were spent on approved purposes.

Fulata also assured that preparations for the 2027 general elections would not distract the committee from carrying out its constitutional oversight responsibilities, adding that public institutions would continue to receive attention despite political activities ahead of the polls.

The committee further urged university authorities to comply with the federal character principle in staff recruitment and student admissions to ensure fairness and equitable representation.

Among the institutions directed to update their financial records and provide comprehensive reports on the implementation of their 2024, 2025 and 2026 budgets are the University of Lagos, Obafemi Awolowo University, Ile-Ife, Federal University Oye-Ekiti, Federal University of Technology, Akure, and Federal University of Health Sciences, Ila-Orangun.

During the visit to UNILAG, Ogunsola was reportedly unavailable, while officials who represented her were unable to adequately explain the alleged ₦7.1 billion discrepancy in the institution’s 2024 and 2025 financial records or provide some of the additional information requested by the lawmakers.

Other institutions inspected by the committee included the University of Ibadan, Adeyemi Federal University of Education, Ondo, Federal University of Agriculture and Development Studies, Iragbiji, Federal University of Technology and Environmental Studies, Iyin-Ekiti, and the Nigeria French Language Village, Badagry.

The committee explained that the exercise was part of the National Assembly’s constitutional responsibility to examine public expenditure, assess budget implementation and ensure that government institutions properly utilise funds allocated to them.

It added that the investigation was aimed at strengthening financial accountability and addressing administrative weaknesses that could affect the delivery of quality university education.