The House of Representatives Committee on University Education has uncovered financial discrepancies in nine federal universities following an oversight visit to institutions across the South-West.
The committee, chaired by Abubakar Fulata, said the exercise exposed inconsistencies in financial records, weak transparency and possible breaches of approved budgetary provisions by some university managements.
Fulata said some institutions submitted financial figures that did not reconcile, particularly in relation to internally generated revenue and expenditure.
He cited instances where a university reported generating ₦9 billion but spending ₦10 billion, raising questions about the source of the additional ₦1 billion.
In another case, he said an institution reported ₦12 billion in income but accounted for only ₦8 billion in expenditure, leaving ₦4 billion unexplained.
The committee has consequently directed affected universities to update their financial records and submit comprehensive reports covering their 2024, 2025 and 2026 budget implementation.
Among the institutions specifically directed to provide additional financial information are the University of Lagos (UNILAG), Obafemi Awolowo University, Ile-Ife, Federal University Oye-Ekiti, Federal University of Technology, Akure, and Federal University of Health Sciences, Ila-Orangun.
UNILAG attracted particular attention after lawmakers identified an alleged ₦7.1 billion excess in its 2024 and 2025 financial records.
The committee directed the university’s Vice-Chancellor, Prof. Folasade Ogunsola, to submit details of the institution’s 2024, 2025 and 2026 budgets and appear before the lawmakers next week to explain the discrepancy.
Ogunsola was not available during the committee’s visit, while officials who represented her were reportedly unable to provide satisfactory explanations for the alleged discrepancy or supply some of the additional information requested by the lawmakers.
Other institutions visited by the committee included the University of Ibadan, Adeyemi Federal University of Education, Ondo, Federal University of Agriculture and Development Studies, Iragbiji, Federal University of Technology and Environmental Studies, Iyin-Ekiti, and the Nigeria French Language Village, Badagry.
Fulata warned vice-chancellors and their management teams to ensure transparency and accountability in handling government allocations and internally generated revenue.
He said proper financial management was essential to improving the quality of university education and ensuring that public funds were used for their approved purposes.
The committee also urged the universities to comply with the federal character principle in staff recruitment and student admissions to promote fairness and equitable representation.
Fulata said the oversight exercise was part of the National Assembly’s constitutional responsibility to scrutinise public expenditure and monitor budget implementation, adding that lawmakers would not allow preparations for the 2027 general elections to distract them from their oversight duties.
