The Deputy Vice Chancellor, Ibrahim Badamasi Babangida University (IBBU) Lapai, Niger State, Prof Hassan Ibrahim has said members of the National Assembly demand bribes from universities during oversight visits.
Ibrahim spoke during the 3rd Annual Lecture of the Bursary Department of the Federal University of Technology (FUT) Minna, themed, ‘The Role of Accountants in Enhancing Ethical Financial Practices in the University System’.
He explained that interference by politicians in the management of the university system has made operations not only difficult but has corrupted and bastardized the system.
“Some politicians are using the oversight functions for their selfish gains instead of them doing the right thing, they will be asking for kickback which is unethical. We are talking about ethics but with the politicians it’s not like that.
“What we see today is, when members of the National Assembly wants to visit like FUT Minna for oversight functions, the Bursary Department has to prepare at least the sum of N10 million for them within its limited resources.
“Sometimes they will not even come but will ask the university to come and meet them in Abuja with documents thereby corrupting and bastardizing the system,” Ibrahim said.
He, however, blamed the institutions’ accountants for the development, saying they have failed to adhere to the five fundamental ethics of the profession in management of resources.
The professor accused the accountants of lack of transparency and accountability in their records.
“If we (accountants) are doing the right thing at the right time, they (politicians) will never ask for anything. The Bursary Department tries to cover up some wrongs and that’s why the politicians demand for bribe.
“The best solution for this is for us to do the right thing at the right time and at the right place.
“The profession is guided by five fundamental ethics and all accountants are expected to follow and deviation from them would lead to a lot of problems,” he added.
He further noted that in order to address financial challenges by Nigerian universities, they must adopt innovative financial management strategies such as diversifying revenue streams, improve financial reporting and transparency and enhance internal controls and audit functions.
He equally noted that they should encourage private sector participation and investment, build capacity and training for financial staff, among others.
The VC FUT Minna, Prof. Faruk Adamu Kuta represented by VC Academics, Prof Mohammed Abdullahi, in his speech said the bursary unit interfaces with all departments of the university in the area of finances, hence the need to train and enlighten its staff on current financial systems to enable them discharge their duty efficiently and effectively.
The Bursar, FUT Minna who is also the Chairperson Association of Bursars of Nigerian Universities, Mrs Hadiza Goje noted that Nigerian universities are facing significant challenges with inflation and limited resources impacting their operations.
She added that the role of accountants in promoting ethical financial practices is crucial for their survival and sustainability of universities.
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