Ekiti Varsity Workers Demand Probe As VC, Bursar Accused Of Financial Mismanagement

By Ayodele Oni

Workers of the Ekiti state government owned Bamidele Olumilua University of Education, Science and Technology, (BOUESTI), Ikere Ekiti are at loggerhead with some management staff of the University over financial mismanagement.

Management staff at the centre on attack by the workers are the vice chancellor, Prof Olufemi Adeoluwa, and the bursar, Babatunde Apata.

They have appealed to the visitor, Governor Biodun Oyebanji and the anti-graft agencies to beam searchlight on the activities of the two staff.

The workers, in a petition, made available to Journalists in Ado Ekiti, alleged that the VC and Bursar allegedly mismanaged the fund of the institution, hence they demanded a forensic audit to ascertain the gravity of financial mess.

Both principal officers were also alleged of high-handedness, incompetence, autocratic policies, blackmail, noting that their action had drastically dragged the already fast growing University backwards and subjects staff to untoward hardship.

In the petition, they alleged that immediately the institution was upgraded and converted from a college to university, things became better and more funds were made but the positive progress could not be felt in the welfare of workers as the VC and the Bursar allegedly connived to divert such funds for personal use.

”It is shocking, that the University is still battling with unpaid salaries despite the fact that it has recorded a significant financial improvement in the last two and half years. A university that made over One billion naira (N1,000,000,000+) in just one session should not find it difficult to run.

“The University is not being run as expected because of the recklessness of Prof. Olufemi Victor Adeoluwa and Mr. Babatunde Apata.

“Prof. Olufemi Victor Adeoluwa led Management owes staff all the arrears of 2018 and 2019 promotion. He cajoled everyone to continue to sacrifice, while the University stabilizes.

“Now that the University has attained some reasonable levels of financial stability, he changed tone and continued to give impression that all is not well with the University.

“The 2018 and 2019 promotion arrears have become bad debts to the University.The staff are now useless and irresponsible at their various homes. No thanks to Prof. Olufemi Victor Adeoluwa who intentionally and wickedly owed them thirty (30) months of amputated salaries. Unfortunately, the VC is living in affluence to the detriment of the sacrificing staff.

“Prof. Adeoluwa took a loan of three hundred and fifty million naira (N350,000,000) from Unity bank in 2021 for capital projects and he mortgaged the salary account of the University as he continues to service the repayment from the account on monthly basis.

“Surprisingly, despite the monthly repayment of over two and half years, which is expected to have reduced the loan, the indebtedness of the University to Unity bank still stood at Seven hundred and sixty six million naira(N766,000,000) as at the time of filling this petition.

“The facts are not far fetched from Unity bank, Ado branch. The big questions therefore are; What is the cause of such huge debts? Why did he secure additional loan? What was the purpose of the loan?

“While the workers are languishing in abject poverty and trying to cope with the bitting economy, Prof. Olufemi Victor Adeoluwa had successfully allocated  twenty two million naira (N22,000,000) for himself to attend a conference of Vice Chancellors holding in Qatar, UAE in December, 2023. This is considered as part of his recklessness, an act of insensitivity to staff well being and a flagrant disregard to staff welfare.

“The University Bursar is equally a partner in the financial crime against the University as he has become  the University Tetfund Desk Officer. He uses this office to syphon the meagre resources of the University in the guise of payment of PR to some unknown individuals at the  Tetfund Office, Abuja.

“Lots of millions of the University funds had gone into such black market payments. Under this present administration, contracts are awarded without following due process. The University is run like a personal property of the Vice Chancellor.

“The maladministration and financial improprieties of the Vice Chancellor; Prof. Olufemi Victor Adeoluwa and the Bursar; Mr. Babatunde Apata is no longer tolerable. This is why BOUESTI staff are calling for immediate probe of the management of the IGR and government monthly grants to the University between 2nd June, 2022 to date, which is the period the VC perpetrated all the acts of financial misconducts.

“A forensic audit of the financial misappropriation of the Vice Chancellor and his cohorts will expose the gravity of damage the VC had caused the University.”