FUTA : Former Student President admit to return #700000, among others

The former student union president of the Federal University of Technology Akure, has admitted to the mismanagement of a sum of money to the tune of #700000, which cannot be accounted for, he made this know in school meeting held with both the past and present leaders, The Speaker SUG, The former Speaker, the current And the former Chief Justice of the union.

Hence, the explicit resolution of the meeting is as follows:

STATEMENT OF ACCOUNT OF THE UNION FROM MARCH TO JUNE 2017

Brought Forward - #2,257.36

Income -#13,146,000.00

Total Income -#13,148,257.36

Total Expenditure-#12,974,053.50

Account Balance-#174,203.86

BREAKDOWN OF EXPENDITURE

Ifo Innoson Vehicle (FUTASU ALUTA TECH)-#9,021,000.00

Legislative and Judiciary summit-#500,000.00

Payment for contractor (Building Renovation)-#300,000.00

Last year remaining budget-#158,800.00

Supplementary Budget-#1,584,500.00

Budget Production-#30,000.00

Scholarship for 3 indigent student’s-#60,000.00

Swearing – In-#300,000.00

Bank charges-#753.50

Operation feed futarian-#100,000.00

TOTAL-#12,055,053.50

BREAK DOWN OF MONEY NOT ACCOUNTED FOR

Total Expenditure-#12,974,053.50

Calculated Expenditure -#12,055,053.50

Reflected money (twice)-#200,000.00

TOTAL-#719,000

"The resolution of the meeting was that Comr. Olusegun Oladele should refund the sum of #719,000 into the union’s account (which he admitted to) within the normal 21days ultimatum as resolute by FUTASU SRC on 18-06-2017." Pending final investigation on the said amount of the bus which he claimed was purchased for #8,950,000 but with present evidence from the statement of account shows that the bus was purchased for #8,500,000 only, making #450,000 extra money unaccounted for, pending further investigation. Furthermore, he should provide the evidence (any receipt pertaining to the union bus for proper clarification)

Having cleared Owoseni Abdulhamid of his #50,000 allegation, he was asked to refund the total sum of #20,000 into the union’s account gotten from swearing-in money within the normal 14days ultimatum as stated in the earlier resolution passed on 18-06-2017 by FUTASU SRC.

Awoyinfa Opeoluwa should still refund the sum of #106,000 into the union’s account within the normal 14days ultimatum.

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