The Better by Far, University of Ilorin has been indicted to have failed to remit 25 per cent of its internally generated revenue of over N1 billion (N1,051-163,575.07) to the consolidated revenue fund (CRF) of the Federal Government in 2018.
The Auditor General of the Federation reveals this in its report that covers 2020 but was released in December 2023 and made available to the public in 2024, the report noted that the institution was also involved in different forms of corruption, amounting to over N1 billion.
The report further stated that the University under its vice-chancellor in the audited year, Prof. Sulyman Age Abdulkareem, did not remit over a billion naira to the CRF.
Citing treasury circular 2016, paragraph 3(b) with reference number TRY/A10&B10/2016, the Auditor General’s Office noted that government agencies or parastatals were expected to limit their annual budgetary expenditure to not more than 75 per cent of their gross revenue and to remit 25 per cent to the CRF, which the Office said they failed to do.
Abdulkareem, a professor of Chemical Engineering, was the vice chancellor of the University of Ilorin from 2017 to 2022.
The report, “The University generated a total of N4,204,654,300.29 in 2018, out of which the sum of N1,051,163,575.07, being 25 per cent of the internally generated revenue (IG) was expected to be remitted to the Consolidated Revenue Fund (CRF) of the Federal Government, and evidence of the remittance of N1,051, 163,575.07 to the CRF, being 25 per cent of the IGR in above, was not produced for audit.”
It added that, “The failure poses risks of losing government funds, an inability to fund the government budget, and diverting public funds.
“The diversion of public funds is an offence contrary to and punishable under Sections 16, 17(1)(c), and 22(5) of the Corrupt Practices and Other Related Offences Act 2000.”
The report also attributed the failure to remit to possible weaknesses in the university’s internal control system.
The report also submitted that the university, despite deducting (Pay As You Earn) PAYE amounting to over N200 million from staff salaries, failed to produce an audit for the remittance.
“Paragraph 235 of the Financial Regulations (FR) 2009 states, “Deductions for WHT, VAT and PAYE shall be remitted to the Federal Inland Revenue at the same time the payee who is the subject of the deduction is paid,” the report added.
“The University made PAYE deductions amounting to N227,370,455.26 from staff salary, and evidence of the remittance of N227,370,455.26 to the relevant tax authorities was not produced for audit,” the report said.