EFCC RAISES CONCERNS OVER FINANCIAL IRREGULARITIES IN UNIVERSITIES
The EFCC has raised concerns about financial mismanagement in Nigerian universities. The commission called for improved accountability systems.
Legitdan news report that the Chairman of the Economic and Financial Crimes Commission, Ola Olukoyede, has expressed concern over cases of financial irregularities in Nigerian universities.
He made the statement in Kano during the 8th Biennial Conference of the Committee of Pro Chancellors of State Universities in Nigeria.
According to him, investigations by the commission have revealed issues such as diversion of students fees, inflated contracts, ghost workers, and misappropriation of funds within tertiary institutions.
He noted that universities manage significant financial resources, including tuition fees, TETFund allocations, and research grants, yet accountability challenges remain.
Olukoyede called on university authorities to adopt artificial intelligence driven systems in financial and ethical management to improve transparency, strengthen governance, and reduce corruption.
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