The House of Representatives, on Thursday, directed the Vice-Chancellor of University of Lagos (UNILAG), Prof. Oluwatoyin Ogundipe, to remit a substantial amount from N14.6 billion unremitted operating surplus between 2014 and 2018.
Chairman, House Committee on Finance, Hon. Abiodun Faleke, issued the directive in Abuja during the ongoing investigative hearing into unremitted revenue by Ministries, Departments and Agencies (MDAs).
The Chairman also demanded an explanation on the remittance of N13 million operational surplus against the sum of N355 million computed by the office of the Accountant General of the Federation.
Other lawmakers, who spoke, frowned at the failure of management of all the Federal Government-owned universities to comply with directives issued by their employers, especially on remittance of 25 per cent operating surplus.
They also frowned at the various (auxiliary) fees amounting to N55,000 imposed on undergraduates despite claims that public schools are tuition-free.
While responding to various questions from the lawmakers, Prof. Ogundipe, who earlier argued that the Institution has been complying with the Treasury Single Account (TSA) policy, explained that the Institution received monthly allocation of N799 million overhead from government, adding that the Institution was enrolled into the IPPIS in November 2019.
After thorough screening of the books of the University, Hon. Faleke warned the Vice Chancellor to ensure that “your men should not divert your IGR,” to enable Federal Government meet its financial obligations to other sectors of the economy.
To this end, Hon. Faleke directed the Vice-Chancellor to provide treasury receipts of payments made from the N14.6 billion outstanding operating surplus on or before Thursday, 19th March 2020.
The Committee also resolved to conduct status of inquiry into the accounts of the University of Lagos.