TRACKNEWS ONLINE | INVESTIGATIVE DESK
The newly established Federal University of Agriculture, Bassambiri, Bayelsa State, is facing questions over financial irregularities totalling ₦27,794,292.64 recorded during its 2024 financial year, including the continued payment of salaries to a bursar who had reportedly attained the mandatory retirement age.
Findings from a review of the university’s financial records identified two major issues involving the misapplication of public funds and salary payments made to the bursar after the officer had reached the applicable retirement threshold.
The findings raise questions about financial management, compliance with public service regulations and the effectiveness of internal controls at the institution, which commenced operations in 2023 as one of Nigeria’s newest federal universities.
₦21.38m Funds Misapplication Raises Questions
According to the findings, ₦21,384,000 was identified as misapplied funds, representing expenditure that reportedly departed from the purpose for which the money had been authorised.
The development raises concerns about compliance with established financial regulations governing the utilisation of public funds.
Under the applicable financial control framework, public institutions are expected to ensure that funds are spent strictly for their approved purposes and in accordance with relevant appropriation and financial regulations.
The finding therefore raises questions about the controls in place to ensure that expenditure at the university is properly authorised, documented and monitored.
However, further details regarding the specific expenditure involved in the ₦21.38 million finding would be necessary to establish how the funds were applied and the officials responsible for approving the transactions.
₦6.41m Salary Paid After Bursar Reached Retirement Age
A second finding involved ₦6,410,292.64 paid as salary to the university’s bursar after the officer had reportedly attained the mandatory retirement age.
Records cited in the findings indicate that the bursar was born on February 20, 1960.
Under Paragraph 020908 of the Public Service Rules 2021, the mandatory retirement age for public officers is 60 years or 35 years of pensionable service, whichever comes first.
Based on the officer’s recorded date of birth, the bursar turned 60 on February 20, 2020, meaning the officer had reached the age-based retirement threshold before the university commenced operations in 2023.
Nevertheless, salary payments reportedly continued after the officer had attained the applicable retirement threshold, accumulating to ₦6.41 million.
The finding raises questions about the university’s personnel management procedures and whether adequate checks were conducted to establish the officer’s eligibility to remain on the payroll.
It also raises questions about the administrative processes governing retirement, payroll verification and the timely removal of ineligible personnel from the salary system.
Financial Regulations Require Prompt Notification
The findings also referenced Paragraph 1507(ii) of the Financial Regulations 2009, which requires an officer who knows that another officer has retired to promptly notify the Accounts Department so that salary payments can be discontinued.
According to the findings, the required notification was not made in time to prevent the continued salary payments.
The situation raises questions about whether the relevant administrative and accounting officials fulfilled their responsibilities and whether the university had effective mechanisms for verifying staff records and retirement status.
The circumstances surrounding the payments, including who authorised them, how long they continued and whether any recovery measures were initiated, remain important issues requiring clarification.
Accountability Questions for University Management
The two findings bring the total amount involved to ₦27,794,292.64, comprising ₦21.38 million in alleged misapplication of funds and ₦6.41 million in salary payments made after the bursar reportedly reached the mandatory retirement age.
While the findings identify financial and regulatory concerns, further information would be required to determine the circumstances surrounding the transactions, establish individual responsibility and ascertain whether any corrective action has been taken.
The issues also underscore the importance of strong financial oversight in newly established public institutions, where transparent expenditure management and effective payroll controls are essential to ensuring that public resources are properly accounted for.
The university’s management would need to clarify the circumstances surrounding the findings, explain the controls in place during the period under review and disclose any steps taken to address the identified irregularities.
Questions Requiring Answers
Among the key questions arising from the findings are:
Who authorised the ₦21.384 million expenditure identified as misapplication of funds?
What specific purposes were the funds originally approved for, and how were they ultimately spent?
Who approved or processed the ₦6.41 million in salary payments made after the bursar reached the mandatory retirement age?
Why was the bursar’s retirement status apparently not reflected in the university’s payroll controls?
Has the university initiated steps to recover any money determined to have been improperly paid?
What corrective measures have been introduced to prevent similar occurrences?
These questions are important for establishing accountability and determining whether the identified issues resulted from administrative failures, inadequate internal controls or other circumstances.
TRACKNEWS ONLINE will continue to follow developments surrounding the financial management of the Federal University of Agriculture, Bassambiri, Bayelsa State, including any official response from the university’s management and relevant oversight authorities.
Editor’s note: This report is based on the financial findings provided for publication. The university’s response and any subsequent clarification should be included when available. The findings alone do not establish criminal wrongdoing by any individual.