By Secrets Reporters
Like a crack in a wall that begins almost invisible before gradually exposing the weakness beneath, the first full financial year of the Federal University of Agriculture, Bassambiri, Bayelsa State, has revealed ₦27,794,292.64 in financial irregularities.
The university, which opened in 2023 as one of Nigeria’s newest federal universities, recorded the irregularities in its 2024 financial year, according to findings from a review of its financial records.
The findings covered two issues involving the misapplication of funds and payment of salary to the university’s bursar after the officer had reached the mandatory retirement age.
The sum of ₦21,384,000 was identified as misapplication of funds, representing expenditure that departed from the purpose for which the funds were authorised.
The second finding involved ₦6,410,292.64 paid as salary to the university’s bursar after the officer had reached the mandatory retirement age.
Records cited in the finding show that the Bursar was born on 20 February 1960. Under Paragraph 020908 of the Public Service Rules 2021, the mandatory retirement age for public officers is 60 years or 35 years of pensionable service, whichever comes first.
The provision therefore required the officer to retire upon reaching the applicable retirement threshold. However, salary payments continued after the officer had attained the mandatory retirement age, resulting in payments totalling ₦6,410,292.64.
The continued payment also raises a compliance issue under Paragraph 1507(ii) of the Financial Regulations 2009, which requires an officer who has knowledge of another officer’s retirement to promptly notify the Accounts Department so that salary payments can be stopped. There was no notification made in time to prevent the continued salary payments.
The ₦21,384,000 misapplication of funds also constitutes a financial control issue, as public funds are required to be applied for the purposes for which they were authorised under the applicable financial regulations and appropriation framework.
