Allegations of financial rip-off are tearing apart the soul of the nation’s premier higher institution, Yaba College of Technology, Lagos.

The premises of the Yaba College of Technology, Lagos, were a beehive of activities last Tuesday. Both the students and members of staff of the school were busy with one activity or another. At the administrative block, the classrooms, laboratories, the arts department as well as the Yusuf Grillo auditorium in the institution, there were no dull moments.

Beyond this seeming friendly and relaxed environment, however, there were underling matters boiling in the oldest tertiary institution in the country. In fact, at the TETfund multipurpose hall on the campus, some members of the institution’s Governing Council, led by Chief Ebenezer Babatope, and the Rector, Dr. Kudirat Ladipo, were busy trying to extricate themselves from a series of allegations of fraud preferred against them
The Bursar and the Chief Financial Officer of the 68-year-old polytechnic, Mr. Olu Ibirogba, who is currently on suspension, had accused them, especially the rector, of engaging in corrupt practices.

In a strongly-worded petition to President Muhammadu Buhari and his deputy, Prof. Yemi Osinbajo, the suspended bursar, on behalf of YABATECH 8, had alleged that several millions of naira had developed wings and flown out of the coffers of the hallowed academic community.

In the petition dated June 10, 2015, entitled ‘Large scale stealing and victimisation by YABATECH authorities: Appeal for intervention so that we are not silenced’, Ibirogba alleged that the rector’s leadership style in the last five years had been characterised by a series of breaches of the Federal Government extant regulations and laws.

According to Ibirogba, the polytechnic has lost no less than N2bn via corruption since the rector came on board in 2009.
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Part of the petition read, “The Governing Council approved N5m monthly security vote to the Rector, Dr. Kudirat Ladipo, which is paid to her personal account each month directly. This is besides the institution’s organic security staff (about 150 personnel), six outsourced security companies, as well as monthly payment of motivational allowances to the Sabo Police Station and DSS staff at Sabo.

“This N5m monthly security vote translates to N60m per annum. Payment of security vote to head of government parastatal is very strange and an indicator of abuse of office and executive fraud.

“Dr. Ladipo also collects about N5m annually for a two-week vacation abroad, including daily allowances of $600 for a trip which she never made. This is another clear duplication, as all employees in the federal polytechnic, including her, are paid their leave allowances monthly.”

Ibirogba, who also accused the rector of divided loyalty, noted that she has a company, Spicy Nig. Limited, which she uses to execute several jobs in the institution; while she is also engaged in contract splitting as well as an arbitrary employment of workers.
Claiming that as the financial officer of the school, he was in a vantage position to identify these shortcomings, Ibirogba urged the President to use his good offices to investigate the allegations.

He added, “Our prayer is that your office causes an independent, incorruptible and open examination of transactions conducted under the watch of Dr. Kudirat Ladipo in the last five years, so that the issue of administrative and financial corruption, impunity and other vices are correctly addressed in line with the provisions of the extant rules.”

However, ‘tell that to the marines’ seems to be the reaction of the rector to these allegations. Ladipo, who, alongside Babatope, addressed journalists last Tuesday, dismissed the accusations as a mere witch-hunt aimed at discrediting her achievements in the school.

According to the rector, the allegations are spurious as her leadership respects due process in all its dealings

More: http://www.punchng.com/education/alleged-n5m-monthly-security-vote-tears-yabatech-apart/
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Oga o corruption everywhere