The Economic and Financial Crimes Commission has raised concern over prevailing financial impropriety in Nigerian universities, disclosing that several vice chancellors from both public and private institutions are under criminal investigation for alleged inflation of contracts, diversion of student registration fees, and other related financial misconduct.
EFCC Chairman Olanipekun Olukayode made the revelation on Tuesday at the opening of the 8th Biennial Conference of the Committee of Pro-Chancellors of State Universities of Nigeria in Kano.
Olukayode asserted that university authorities entrusted with the management of multi-billion naira budgets from tuition fees and other internally generated revenues are not immune to accountability issues. He stressed that the pervasive cases in tertiary institutions represent not only a loss of public funds but a betrayal of trust placed in the university system by Nigerian parents, students, taxpayers, and governments.
“The EFCC has investigated cases involving inflated contracts, ghost workers, and diverted student fees in tertiary institutions across the country. It’s a matter of fact, just this last week, I had a call to file a charge against a vice chancellor who just left the system,” Olukayode emphasised.
Dwelling on the theme of the conference, “Unlocking the Potentials of Artificial Intelligence: University Governance, Internationalization and Rankings,” the EFCC boss argued that the application of technology in tertiary institutions should become a central norm to avoid accountability leakages. He posited that limited technology applications exacerbate challenges in the system, especially in payroll administration, encourage procurement malpractices, and lead to poor internal control systems.
“A university that lacks financial accountability cannot credibly train future accountants and auditors. And one that tolerates fraud cannot produce the ethical professionals our economy needs. The university’s integrity is thus a matter of national security, and artificial intelligence offers transformative tools to defend it,” Olukayode said.
While advocating for the adoption of technology-driven systems in higher learning centres, Olukayode also raised questions about the technical capacity of institutions to carry the advancement. He called on university management to take full advantage of AI integration to improve their systems.
