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Published On: Mon, Apr 30th, 2018

Account for N20m IGR within one week – Reps tell VC

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By Umar Muhammad Puma

The House of Representatives Committee on Public Accounts, PAC, has ordered the Vice Chancellor of Federal University of Technology Akure, FUTA, Prof Joseph Funwasope to explain how N20 million Internally Generated Revenue, IGR of the Institution was spend within one week.
This resolution of the committee was based on infractions raised by the office of the Auditor General to the Federation, AuGF in 2015.
The AuGF had queried the university for improper transfer of the said N20m as its whereabouts was not adequately captured when its accounts was audited.
Responding, Prof Funwasope said his bursar can explain but all he could vividly remember was that the money was transferred to the Treasury Single Account, TSA.
In his response, the Burser, Mr E.A Oresegun said”when the infraction was discovered it was immediately reconciled.
Chairman of the committee, Rep Kingsley Chinda, (PDP, Rivers), demanded for evidence of the reconciliation and insisted that “such a reconciliation ought to have been submitted to the auditors.
Speaking in the same vein, a member of the committee, Rep Rimamande Shawhulu, (PDP, Taraba),, asked the Burser,” you mean there’s no evidence of reconciliation, even your little child would naturally ask for such an evidence.
Continuing, Shawhulu said “Chairman in my opinion I think the query of the AuGF should be upheld.
But the Burser quickly pointed out that “if we are given a grace period we can provide all the evidence of how the reconciliation was carried out.
In his ruling, Rep Chinda said “the query of the AuGF is hereby upheld but we demand you make available all relevant information concerning how you carried out the reconciliation”.

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