Dr Wale Babalakin, Chairman, Governing Council of University of Lagos (Unilag), on Friday, said the council relieved Professor Oluwatoyin Ogundipe as the Vice-Chancellor of the institution for gross financial recklessness and spending in excess of the limit approved for his office.
Babalakin stated this while addressing newsmen at the arrival hall of the local wing of the Murtala Muhammed International Airport (MM2), Ikeja, Lagos.
According to him, the former Vice-chancellor was given a fair hearing on all allegations levelled against him, adding that UNILAG was not in chaos as being touted in the media.
He alleged Profesor of Ogundipe of direct looting of the resources of the institution just as lamented that the Internally Generated Revenue records and details of expenses presented by the management do not reflect the accounts of the university.
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