The audit observed that Personnel cost amounting to N86,210,630.24 out of the N5,058,482,214.97, released for the year 2017, was unspent. The unspent balance was not returned to chest. Further evaluation shows that actual performance was below 100% because releases were below approved appropriations.
The Vice Chancellor is required to account for the sum of N86,210,630.24 and pay the money back into the Consolidated Revenue Fund, failing which sanctions in line with Financial Regulations 3129 and 3106 should apply.
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