Audit observed that a Toyota land Cruiser with registration number 53K 01FG purchased on the 10th December,2014 at the cost of N10,000,000.00 and a Toyota Prado Jeep with registration Number 53K 03FG, purchased and delivered on the 10th of December, 2014 at the cost of N6,000,000.00, were taken away by the former Rector and Registrar respectively. The former Officers were granted the vehicles at the depreciation rate of 50% of its current Net book value vide approval by the Council.
We recommend that the Rector be sanctioned in accordance with the provisions of Financial Regulation 3114 and in line with PSR 030310.
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