The management of the University of Lagos, Akoka is enmeshed in controversies over allegations of misappropriation of funds to the tune of N5 billion, forgery, and misconduct, among other administrative vices.Following his reinstatement, the chairman of the governing council of the school, Wale Babalakin resigned from his position.
The report reveals that within three years, the University of Lagos' management spent N55 million on the Vice-Chancellor's lodge only. Others were registered outside the date of execution of the contract for the renovation of the Pro-chancellor’s lodge. The renovation was worth over one million naira.
“The renovation work includes both civil works and housing furniture. In accordance with the Memorandum of appointment , outgoing VCs leave with their furniture. Consequently, the total furniture stated in the report should be broken down into renovations and purchase of furniture and equipment respectively. On assumption of office, after evaluation of the state of the property, the Works and Physical Planning Department identified certain deficiencies that needed attention.
An inactive company is one that has not made any Significant Accounting Transaction during the last two financial years or has not filed Financial Statements and Annual Returns during the last two financial years.A non-listed company in this case is one that cannot be found on the CAC portal. Mr Wash must have been listed as inactive due to its inability to file returns. However, in January 2020, the organisation made a request for payment valuation certificate for the sum of N33.618 million. During the duration of their inactiveness, the organization still made transaction with the University of Lagos.
A legal expert, Barrister Awosusi Kehinde , has, however explained that the normal process of winning contracts involves preparing Tax clearance. Another company, Dutum Company Limited was awarded a contract worth over one billion naira, for the construction of the university’s new library. Checks however revealed that Dutum has been listed as inactive by the corporate affairs commission, meaning that it failed to file its returns.
The Panel was of the view that Dutum Company Limited was not qualified to be awarded the contract for construction of the new library project. It stated that the organisation should not have been prequalified, as “its lack of experience in the construction of multi-storey building on pile foundation was manifested in the course of implementation of the contract”.
You guyz sick obsession with Buhari is turning to something else. Everything bad must somehow be linked to Buha.
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