Ambrose Alli Varsity: Visitation Panel indicts ousted mgt of 1.7bn fraud
…N133m lease obtained for motor vehicle procurement
The Ambrose Alli University, Ekpoma, Special Visitation Panel has indicted the ousted management of the institution for “indiscriminate procurement of loans/overdraft” to the tune of N1,794,069,811.02 within the period under review.
The panel, which was constituted by Governor Godwin Obaseki in the wake of the agitation by staff unions in the school and other stakeholders in the university community, was tasked to investigate operations of the university in terms of revenue generation, transparency, accountability, adherence to due process, mode of employment and promotions and sustainability.
The panel, set up in October, 2020, was chaired by Prof. Ikponmwosa Omoruyi, a Professor of Law at the University of Benin. Prof. Lawrence Atsegbua, who is a member of the panel, is also a Professor of Law at the University of Benin and a Senior Advocate of Nigeria (SAN).
Others on the panel are Mrs. M. E. Ohiowele, Roland Ogbebor, Dr. J. O. Okovido and Venerable Osaze Egbenusi, as members, with Mrs. P. E. Aziegbemhin, as Secretary.
In the panel’s report submitted in March, 2021, to the governor, it was revealed that there was “indiscriminate procurement of loans/overdrafts,” noting that “N1,794,069, 811.02 only, within the period under review is not sustainable.”
The panel also said “indiscriminate procurement of motor vehicles through lease financing should be stopped as payment of N133,138,324.39 only within 5 years period as lease financing is not sustainable.”
“There should be drastic reduction in the overhead cost as the average at N1.2bn per year is on the high side and not sustainable,” it added.