The committee also directed the Vice-Chancellor of the University of Lagos, Prof. Folasade Ogunsola, to submit the institution’s budget records for 2024, 2025 and 2026 and appear before lawmakers next week over an alleged N7.1bn discrepancy in its financial records.
The committee chairman, Abubakar Fulata, disclosed this on Saturday in a statement following an oversight visit to universities and inter-university centres across the South-West.
“In another instance, you will see N12bn generated as income and only N8bn spent, without any information regarding the whereabouts of the balance of N4bn.”
The lawmaker urged vice-chancellors and their management teams to ensure transparency and accountability, noting that public universities must provide proper accounts of both government allocations and internally generated revenue.
He said sound financial management was essential to improving the standard of university education and ensuring that public funds were used for approved purposes.
The committee chairman also maintained that the 2027 general election would not distract lawmakers from their constitutional oversight duties, despite the political activities expected ahead of the polls.
He said the committee would continue to monitor public institutions to ensure that no sector was neglected because of election-related engagements.
The committee further called on university authorities to observe the federal character principle in staff recruitment and student admissions to promote fairness and equitable representation.
As part of its directives, the committee asked the University of Lagos, Obafemi Awolowo University, Ile-Ife, 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 2024, 2025 and 2026 budgets.
Ogunsola was reportedly unavailable during the committee’s visit to the University of Lagos, while officials who represented her could not adequately explain the alleged N7.1bn excess in the institution’s 2024 and 2025 financial records or provide further details requested by the lawmakers.
Other institutions visited included the University of Ibadan, Adeyemi Federal University of Education, Ondo, 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 committee said the exercise formed part of the National Assembly’s constitutional responsibility to scrutinise public expenditure, assess budget implementation and ensure that government institutions properly utilise funds allocated to them.
It added that the investigation was intended to strengthen financial accountability and address administrative shortcomings affecting the delivery of quality university education.
