The House of Representatives has raised concerns over suspected financial irregularities in federal universities, demanding explanations from their managements on the handling of public funds and implementation of approved budgets.
As reported by PUNCH, the House Committee on University Education also summoned the Vice-Chancellor of the University of Lagos, Prof. Folasade Ogunsola, to appear before it next week over an alleged N7.1bn discrepancy in the institution’s financial records.
The committee chairman, Abubakar Fulata, disclosed this on Saturday after an oversight tour of federal universities and inter-university centres across the South-West.
Fulata said the inspection revealed inconsistencies in financial statements submitted by some institutions, warning that poor accountability and disregard for budgetary regulations could further undermine the university system.
He questioned how some universities could report revenue and expenditure figures that failed to balance, demanding explanations for the apparent gaps in their accounts.
“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?” he queried.
The lawmaker said the committee had directed nine institutions to reconcile their financial records and submit detailed reports on their 2024, 2025 and 2026 budget performance. They include the University of Lagos, Obafemi Awolowo University, Federal University Oye-Ekiti, Federal University of Technology, Akure, and Federal University of Health Sciences, Ila-Orangun.
Ogunsola was absent during the committee's visit to UNILAG, while officials who represented her reportedly failed to provide satisfactory explanations for the alleged N7.1bn discrepancy in the university's 2024 and 2025 financial records. Fulata, however, insisted that the lawmakers would continue their oversight responsibilities despite preparations for the 2027 general elections.
The committee also called on university authorities to ensure fairness in staff recruitment and student admission in line with the federal character principle, stressing that transparency in financial administration was essential to improving the quality of tertiary education.
