i.The University still maintains accounts in microfinance bank, without prior approval of the President of the Federal Republic of Nigeria in violation of the policy guideline for implementation of Treasury Single Account (TSA) in Government Ministries/Parastatals.
ii.The sum of N 17,884,392.56 was still standing to the credit of the University as at 31 December, 2017 as shown below, and
a. Mautech Micro Finance Bank
Account Name: Mautech revenue
Account Type: Current
Account number: 1100006308
Bal as at 31st Dec 2017: N14,731,948.75.
b.Mautech Micro Finance Bank
Account Name: Mautech Postgraduate
Account No: 1100006298
Account type: Current
Bal as at 31st Dec 2017: N3,152,443.81.
iii.Relevant details and statements of the accounts were not produced for examination, despite repeated demands.
i.Provide reasons why accounts were maintained in microfinance bank without prior approval of the President of the Federal Republic of Nigeria.
ii.Recover the sum of N17,884,392.56 and remit same to the Treasury.
iii.Forward evidence of remittance to the Public Accounts Committees of the National Assembly.
iv.Otherwise, apply sanctions relating to gross misconduct stated in paragraph 3129 of the Financial Regulations.
N/A
N/A
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