Reps Committee Uncovers Financial Discrepancies, Demands Accountability From Federal University VCs
The House of Representatives Committee on University Education has directed vice chancellors and management teams of federal universities to strengthen financial transparency, uphold accountability and ensure strict compliance with approved budgetary provisions following concerns over inconsistencies in institutional financial records.
The committee chairman, Abubakar Fulata, issued the directive on Saturday, November 14, 2026, following an oversight visit to federal universities and inter-university centres across the South-West geopolitical zone.
Fulata said the committee’s assessment revealed significant challenges in the management of university finances, warning that financial irregularities, inadequate transparency and failure to comply with budgetary requirements could further undermine the institutions’ operations.
He expressed concern over discrepancies in financial documents submitted by some universities, particularly inconsistencies involving internally generated revenue and expenditure reports.
According to the committee chairman, some institutions presented financial records that did not adequately explain how their revenues were utilised.
He cited an instance in which a university reportedly declared N9 billion in internally generated revenue but recorded expenditure of N10 billion without providing a satisfactory explanation for the additional N1 billion.
In another case, he questioned the reported generation of N12 billion against expenditure of N8 billion, noting that the institution had not sufficiently accounted for the remaining N4 billion.
Fulata stressed that universities must demonstrate proper stewardship of public funds and internally generated revenue, adding that effective financial management is essential to improving the quality of higher education in Nigeria.
He also acknowledged the political activities surrounding the 2027 general elections but maintained that lawmakers must not abandon their constitutional oversight responsibilities because of electoral engagements.
Beyond financial accountability, the committee urged university authorities to observe the federal character principle in staff recruitment and student admissions to promote fairness, inclusiveness and equitable representation across the country.
UNILAG Asked to Explain N7.1bn Financial Discrepancy
In a related development, the committee directed the Vice Chancellor of the University of Lagos (UNILAG), Professor Folasade Ogunsola, to submit details of the institution’s 2024, 2025 and 2026 budgets and appear before the lawmakers the following week.
Ogunsola was unavailable during the committee’s visit, while officials who represented her reportedly could not adequately explain an alleged N7.1 billion excess in the university’s 2024 and 2025 financial records.
The representatives were also unable to provide some additional information requested by the lawmakers.
The committee further directed the managements of Obafemi Awolowo University, Federal University Oye Ekiti, Federal University of Technology Akure and Federal University of Health Sciences, Ila Orangun, to update their financial records and submit comprehensive reports on the implementation of their budgets for 2024, 2025 and 2026.
Other institutions visited included the University of Ibadan, Adeyemi Federal University of Education, Federal University of Agriculture and Development Studies, Iragbiji, Federal University of Technology and Environmental Studies, Iyin Ekiti, and the Nigeria French Language Village, Badagry.
The oversight exercise forms part of the National Assembly’s constitutional responsibility to monitor public expenditure, examine budget implementation and ensure that government institutions utilise allocated resources for their approved purposes.
The committee’s intervention highlights the importance of financial discipline and institutional accountability in Nigeria’s higher education sector, particularly as public universities continue to face funding pressures and growing demands for improved academic infrastructure and research facilities.
Ensuring that university finances are properly managed remains essential to restoring public confidence, improving service delivery and strengthening the country’s tertiary education system.