A visitation panel to Ambrose Alli University (AAU) has indicted the ousted management of the institution for “indiscriminate procurement of loans/overdraft” to the tune of N1.7 billion.
Governor Godwin Obaseki of Edo State had dissolved AAU’s governing council and appointed an acting vice-chancellor.
Osarodion Ogie, secretary to the state government, said AAU had been “brought to its knees by mismanagement and maladministration”, forcing the students to remain at home.
A visitation panel was subsequently tasked to look into the operations of the varsity in revenue generation, transparency, accountability, adherence to due process, mode of employment and promotions, and sustainability.
Set up in October 2020, it was chaired by Ikponmwosa Omoruyi, a law professor at the University of Benin (UNIBEN).
In a report submitted to the governor in March, the panel said there was indiscriminate procurement of loans or overdrafts. The report noted that “N1,794,069, 811.02 only, within the period under review is not sustainable”.
The panel also stated that AAU’s “indiscriminate procurement of motor vehicles through lease financing should be stopped as payment of N133,138,324.39 only within five years period as lease financing is not sustainable”.
“There should be a drastic reduction in the overhead cost as the average at N1.2bn per year is on the high side and not sustainable,” it added.
Other members of the panel are Lawrence Atsegbua, a law professor at UNIBEN and a senior advocate of Nigeria (SAN); ME Ohiowele; Roland Ogbebor; JO Okovido; Osaze Egbenusi, and E Aziegbemhin.For information on Press Releases, Photos, Promotional Events and Adverts, Please Call or Send a Text to 09052129258, 08124662170 or send an email to: email@example.com