The management of Adekunle Ajasin University, Akungba in Ondo State has described a statement by the Action Congress of Nigeria alleging that the Vice Chancellor, Prof. Femi Mimiko, misappropriated funds belonging to the institution as unfounded.
The spokesperson of the university, Victor Akinpelumi, said, in a statement made available to Saturday PUNCH on Sunday, the insinuation that the VC, who is Governor Olusegun Mimiko’s brother, squandered N10bn meant for some projects in the institution, was malicious and existing only in the imagination of the authors.
The ACN had on Friday alleged that Governor Olusegun Mimiko was corruptly enriching members of his family. In a statement released by the Independent Campaign Network on Friday, the party said “The Vice-Chancellor of the state-owned Adekunle Ajasin University, Akungba, Prof. Femi Mimiko squandered over N10bn under two years.”
The ICN, one of the two campaign groups of ACN governorship candidate, Rotimi Akeredolu, had said that it received information, which pointed to the fact that the VC only spent about N3bn on projects from the amount budgeted for the institution in 2010/2011.
But the institution said it was impossible for an individual, no matter his status, to embezzle N10bn capital funds. Akinpelumi explained that AAUA operates under strident procedures for fund administration.
He said, “The total amount available to the university for capital development in the past three years is under N3bn. Talking of misappropriation of N10bn by the VC can only be in the imagination of people with mischievous intentions.
“Adekunle Ajasin University has an impeccable and fool-proof financial and budgetary system that has been applauded by relevant bodies. The university would, therefore, like to reiterate that all the funds available to the university are being managed according to the highest financial standard and discipline.
“Within the past three years, no less than 30 infrastructural projects have been embarked upon. Some of these have been completed and delivered while others are at various advanced stages of completion.”
The university said it was concerned that the groups and individuals engaging in “nefarious media campaigns” wanted to drag the university’s name in the mud.