A significant financial controversy has surfaced at the Federal Government College (FGC), Ido-Ani, in Ondo State, following revelations that millions of Naira in public funds were disbursed during the 2020 fiscal year without any supporting documentation.
Audit findings indicate that the institution’s management executed 13 distinct payments amounting to ₦4,493,965.00 for various institutional needs. Despite the substantial nature of these expenditures, officials failed to provide the mandatory paperwork required to justify the utilization of these funds. The disbursements were allegedly allocated for routine operational costs, including fuel, bus hire, security equipment, medical supplies, and stationery.
Investigations into these transactions uncovered a complete absence of fundamental accounting records. None of the 13 payments were backed by written applications, delivery notes, invoices, or Store Receipt Vouchers (SRVs). This systematic failure to maintain records constitutes a flagrant violation of the Federal Republic of Nigeria Financial Regulations (FR 2009), specifically paragraphs 415, 603(i), and 708.
Under Financial Regulation 603, government institutions are legally mandated to ensure that all payment vouchers contain granular details of services rendered, including quantities, dates, rates, and distances. Furthermore, these vouchers must be accompanied by supporting documentation such as Local Purchase Orders (LPOs), formal invoices, and letters of authority to ensure transparency and accountability for every kobo spent.
Financial analysts have expressed alarm over these findings, noting that the absence of invoices and delivery notes makes it impossible to verify whether the procured goods were ever delivered or if the paid services were actually performed. Such widespread documentation gaps significantly increase the risk of revenue loss and potential diversion of public funds, undermining the integrity of the institution’s financial oversight.
During the period under review, the college was under the leadership of its then-principal, Mrs. Eno Jane Okaliwe. When approached for clarification regarding the missing documentation and the irregularities surrounding the 2020 expenditures, the school management provided no response.
While the institution has recently garnered attention for the inauguration of various infrastructure projects spearheaded by its alumni, this audit revelation casts a long shadow over the administrative and fiscal governance of the college during the 2020 academic session.
Source: NaijaProbe