– Uncovers Large Bank Accounts with ₦9.7Billion

The Pro-Chancellor of the University of Lagos, Dr.Wale Babalakin has pledged to donate (forty) 40 hectares of land for UNILAG Staff Home Ownership Scheme and Housing Estate. This was exposed in the Council Resolutions -Part 2 released by the Registrar and Secretary to Council, Azeez Oladejo on Thursday, 19 March 2020. Babalakin who gave all junior staff of the University Christmas Bonus of ₦5000 in December 2019, will hand over his private land property at Ogudu to the University.

The Council Sub committee on University Finances and the 2020 Budget Estimates with Realistic and Anticipated Income and Expenditure also discovered large Bank accounts with the total Balance of Nine Billion, Seven Hundred and Ninety Seven Million, Seven Hundred and Fifty Six thousand , seven hundred and twenty three naira, Fifty Six Kobo (₦9,797,756,723.56). The accounts, being managed by the University Management without the knowledge of the Council. The release states, “Council members expressed surprise about the Sub-Committee’s finding that the University had large funds in its bank accounts and the Council did not have knowledge of such.”

Some staff, who pleaded anonymity confirmed that there has been artificial scarcity on campus as the Management always claim there is no money. Some Heads of Department that spoke with our correspondent also complained that the departments , Units and Faculty offices do not have stationeries because Management cuts down the budget on the basis that there is no money. Other members of staff also said that welfare package is zero.

Efforts to speak with the Vice Chancellor, Prof. Ogundipe and the Information officer of the University, Mrs. Oloyede proved abortive as their phones were not reachable.

Money wey be say, Na some people dey enjoy the interest on it jejely.... Africans are indeed cursed with spirit of Greed.

This is an amazing level of corruption