The House of Representatives Committee on University Education has uncovered alleged financial discrepancies in the records of some federal universities, directing their vice-chancellors to account for public funds and comply strictly with budgetary provisions.
The committee also directed the Vice-Chancellor of the University of Lagos, Prof. Folasade Ogunsola, to submit details of the institution’s 2024, 2025, and 2026 budgets and appear before it next week over an alleged N7.1bn excess in its financial records.
The Chairman of the committee, Abubakar Fulata, disclosed this in a statement on Saturday following an oversight visit to universities and inter-university centres across the South-West geopolitical zone.
Fulata said the exercise exposed financial inconsistencies, a lack of transparency, and possible non-compliance with budgetary provisions in some institutions, warning that such practices could worsen the challenges confronting the university system.
Citing discrepancies in financial records submitted by some universities, the lawmaker questioned how institutions could report internally generated revenue and expenditure figures that did not correspond.
He said, “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.”
The committee chairman urged vice-chancellors and their management teams to uphold transparency and accountability in their financial dealings, stressing that public institutions must account for both government allocations and internally generated revenue.
He said proper financial management was critical to improving the quality of university education and ensuring that public funds were deployed for their approved purposes.
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Fulata acknowledged the political demands on members of the National Assembly ahead of the 2027 general election, but insisted that the election year would not distract lawmakers from their constitutional oversight responsibilities.
He said the exercise was necessary to ensure that no sector of the economy suffered neglect because of political activities.
The committee further urged university authorities to uphold the federal character principle in staff recruitment and student admissions to guarantee fairness and equitable representation.
Meanwhile, the committee directed the management of the University of Lagos; Obafemi Awolowo University, Ile-Ife, Osun State; Federal University Oye-Ekiti, Ekiti State; Federal University of Technology, Akure, Ondo State; and Federal University of Health Sciences, Ila-Orangun, Osun State, to update their financial records and submit comprehensive reports on their 2024, 2025, and 2026 budget implementation.
Ogunsola was unavailable during the committee’s visit to UNILAG, while the officials who represented her could not adequately explain the alleged N7.1bn excess in the institution’s 2024 and 2025 financial records or provide additional information requested by the lawmakers.
Other institutions visited during the exercise included the University of Ibadan, Oyo State; Adeyemi Federal University of Education, Ondo State; Federal University of Agriculture and Development Studies, Iragbiji, Osun State; Federal University of Technology and Environmental Studies, Iyin-Ekiti, Ekiti State; and the Nigeria French Language Village, Badagry, Lagos State.
The committee stated that the oversight exercise was part of the National Assembly’s constitutional responsibility to scrutinise public expenditure, monitor budget implementation, and ensure that government institutions utilised public funds for their approved purposes.
It added that the exercise was aimed at strengthening accountability in the university system and addressing financial and administrative shortcomings affecting the delivery of quality tertiary education.
