LAUTECH union heads to court for restriction of action against forensic audit.

WITH fresh complaints, the Senior Staff Association of Nigeria (SSANU), Ladoke Akintola University of Technology, LAUTECH chapter has filed an application seeking the immediate restriction of the owner state governments, Oyo and Osun from conducting forensic audit, Mega Icon Magazine exclusively gathered.

The Union insisted that the University edict expressly stipulated that only the Governing Board can appoint the external auditor to audit the university finances not the governors.

When contacted, the Oyo State Commissioner for Education, Science and Technology, Prof. Adeniyi Olowofela, who also confirmed the development said, ” what should be the concern of the Union is what can hasten the opportunity for welfare of the staff and government said this one will hasten the opportunity, let us complete in time”.

The commissioner further hinted that despite the nebulous accounting procedure in the institution, Oyo state government has also given the institution more than N140m recently.

“It is correct that it is the governing council that should be facing this problem, but government has taken the bull by the horn and that is why we are doing what we need to do to solve the problem.

“The process of solving LAUTECH problem permanently has commenced. The Chief Wole Olanipekun report directed the owner state governments, Oyo and Osun to carry out a forensic audit of the institution because the accounting system is nebulous and porous. The truth is that the accounting process there is not what we are proud of.

“The panel report revealed that the institution is operating 97 accounts. It also revealed that as at 2011/2012 session, there was about N400 million hanging that cannot be accounted for. Since 2012, the account of the institution has not been audited. So, the position of the two state governments is that the audit firm completes its assignment then we will do whatever we need to do. There is a lot of fund trapped that could not be accounted for”, Olowofela explained.

He assured that the Governing Council will be inaugurated soon so that the problem of LAUTECH can be solve permanently.

However, Mega Icon Magazine further checks revealed that all the institutions in Oyo state are cooperating with the audit firm, KPMG except LAUTECH.