Over the weekend, the Chairman of the Governing Council, University of Lagos, Dr Wale Babalakin, gave reasons why the Vice-Chancellor, Prof. Oluwatoyin Ogundipe was removed.
Babalakin, while briefing newsmen in Ikeja, accused Ogundipe of trampling upon all financial guidelines of the university and also moved to call for an investigation by appropriate anti-graft agencies.

He accused Ogundipe of not following extant rules and regulations regarding the management of the resources of the university.

Babalakin said:

“For instance, Ogundipe, without the approval of the Governing Council, renovated his official quarters for N49 million and also approved N41m for the Bursar to renovate his official accommodation too. This is against the regulations of the university.

“The financial guidelines of the University of Lagos give the Vice-Chancellor the power to spend, not more than N2.5 million in some instances, without the approval of the Governing Council and anything higher must be brought to the Council for approval.

“That is unacceptable. He must be investigated. We need to do that for us to start building the university. I can tell you that when we probed the account of the university, it was in tatters.”

According to Babalakin, Ogundipe forged the university’s documents and manipulated the process for the appointment of the Director of Works of the university.

Read more=== https://thestreetjournal.org/2020/08/babalakin-reveals-why-ex-unilag-vc-ogundipe-was-sacked/