FORMER FUTASU PRESIDENT(COMRADE SOLAR) TO REFUND 719K WITHIN 21DAYS

FEDERAL UNIVERSITY OF TECHNOLOGY AKURE, STUDENT UNION. PROPER REPORT ON THE FINANCIAL MISAPPROPRIATION OF FUND FOR FUTASU 2016/2017 PARLIAMENTARY SESSION. 

Sequel to the meeting held with Comr. Olusegun Oladele (solar) twice, on an investigation on financial misappropriation of the union’s fund, it was resolute that he should refund the total sum of #990,000 into the union’s account with 21days ultimatum. But, on the 24th of June 2017(Saturday) a meeting was held with the concerned FUTASU officials both past and present officials(chief judges, presidents, speaker, budgetary and finance committee members) for proper and further investigation of the union’s account. Hence, the explicit resolution of the meeting is as follows:  STATEMENT OF ACCOUNT OF THE UNION FROM MARCH TO JUNE 2017  Brought Forward - #2,257.36 Income -#13,146,000.00 Total Income -#13,148,257.36 Total Expenditure-#12,974,053.50 Account Balance-#174,203.86  BREAKDOWN OF EXPENDITURE  Ifo Innoson Vehicle (FUTASU ALUTA TECH)-#9,021,000.00 Legislative and Judiciary summit-#500,000.00 Payment for contractor (Building Renovation)-#300,000.00 Last year remaining budget-#158,800.00 Supplementary Budget-#1,584,500.00 Budget Production-#30,000.00 Scholarship for 3 indigent student’s-#60,000.00 Swearing – In-#300,000.00 Bank charges-#753.50 Operation feed futarian-#100,000.00 TOTAL-#12,055,053.50  BREAK DOWN OF MONEY NOT ACCOUNTED FOR   Total Expenditure-#12,974,053.50 Calculated Expenditure -#12,055,053.50 Reflected money (twice)-#200,000.00 TOTAL-#719,000  The conclusion of the meeting was that Comr. Olusegun Oladele should refund the sum of #719,000 into the union’s account (which he admitted to) within the normal 21days ultimatum as resolute by FUTASU SRC on 18-06-2017. Pending final investigation on the said amount of the bus which he claimed was purchased for #8,950,000 but with present evidence from the statement of account shows that the bus was purchased for #8,500,000 only, making #450,000 extra money unaccounted for, pending further investigation. Furthermore, he should provide the evidence (any receipt pertaining to the union bus for proper clarification) Having cleared Owoseni Abdulhamid of his #50,000 allegation, he was asked to refund the total sum of #20,000 into the union’s account gotten from swearing-in money within the normal 14days ultimatum as stated in the earlier resolution passed on 18-06-2017 by FUTASU SRC.  Awoyinfa Opeoluwa should still refund the sum of #106,000 into the union’s account within the normal 14days ultimatum.

  PRESENT AT THE MEETING ARE:
1. OLOGUNLEKO TOE SAMUEL-BFC CHAIRMAN
2. FASHOLA EMMANUEL -BFC MEMBER
3. AJEWOLE GIDEON S. -BFC MEMBER
4. OLASEHINDE ADEYINKA-PRESIDENT 5. CHUKWUMA KINGSLEY-SPEAKER
6. OYEDOKUN TEMITOPE-CHIEF JUDGE 7. MADUKA EMMANUEL-FORMER CHIEF JUDGE
8. OLUSEGUN OLADELE-FORMER PRESIDENT