A special visitation panel constituted by Governor Godwin Obaseki of Edo, to visit the state-owned Ambrose Alli University (AAU), Ekpoma, has indicted the ousted management of the institution for “indiscriminate procurement of loans/overdraft” to the tune of N1,794,069,811.02 within the period under review.
The panel constituted in October, 2020, in the wake of the agitation by staff unions in the school and other stakeholders in the University community, and was chaired by Prof. Ikponmwosa Omoruyi, a Professor of Law at the University of Benin.
Lawrence Atsegbua, a Professor of Law at the University of Benin and a Senior Advocate of Nigeria (SAN), was also a member of the panel.
Others members of the panel are Mrs. M. E. Ohiowele, Roland Ogbebor, Dr. J. O. Okovido and Venerable Osaze Egbenusi, as members, with Mrs. P. E. Aziegbemhin, as Secretary.
The panel was tasked to investigate operations of the University, in terms of revenue generation, transparency, accountability, adherence to due process, mode of employment and promotions and sustainability.
The panel in its report submitted in March, 2021, to the Governor Obaseki in March, 2021, revealed that there was “indiscriminate procurement of loans/overdrafts.”
It added that the N1,794,069, 811.02 loans/overdraft within the period under review is not sustainable.
The panel also recommended that ndiscriminate procurement of motor vehicles through lease financing should be stopped, as payment of N133,138,324.39, within 5 years as lease financing is not sustainable.
“There should be drastic reduction in the overhead cost as the average at N1.2bn per year is on the high side and not sustainable,” the panel added.