By Secrets Reporters
Amid the serene expanse and academic bustle of Ekiti State, official documents obtained by SecretsReporters have uncovered financial irregularities totalling ₦32,245,988.25 at the Federal University, Oye-Ekiti, across two separate findings for the 2023 financial year, under Professor Abayomi Sunday Fasina, who served as Vice-Chancellor of the institution from 2021 until February 2026.
The first finding reveals that ₦17,704,500.00 granted to university staff as cash advances was never retired. This failure violates Paragraphs 1405 and 1420(i) of the Financial Regulations 2009, which explicitly mandate that the accounting officer bear direct responsibility for ensuring every advance is fully recovered.
Additionally, this action contravenes Paragraphs 3106 and 3115 of the Financial Regulations 2009 regarding irregular payments and poor cash management.
Similarly, the second finding details an uncertified payment of ₦14,541,488.25 released to contractors as a five percent retention fee. This transaction occurred without the requisite certification required prior to the disbursement of retention fees, thereby breaching Paragraphs 3106 and 3115 of the Financial Regulations 2009 on irregular payments and poor cash management.
Furthermore, official recommendations direct the Vice-Chancellor to account for each sum to the Public Accounts Committee of the National Assembly, recover and remit the affected amounts to the Treasury, and submit proof of the remittance.
