Audit observed that the sum of N9,889,298.50 which represents the independent revenue generated from contractor registration fees, Tender fees, hiring of academic gown, hiring of government vehicles, sales of journals, government assets etc. which should have been remitted 100% to the CRF was not remitted as required by the above Federal Treasury Circular.
The Rector is required to remit the sum of N9,889,298.50 to the CRF. Evidence of compliance should be forwarded to the Public Accounts Committee of the National Assembly for verification, failing which sanction within FR 3112 should apply.
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