Alleged N500m fraud rocks Cross River varsity


Crisis is brewing at the Cross River University of Technology, (CRUTECH) over an alleged misappropriation of about N500 million Federal Government grant.
This situation has pitched the university’s management led by the Vice Chancellor, Prof Anthony Owan Enoh, against the Governing Council chaired by Mr. Emil Inyang.
It was alleged that the management of the university spent the funds without due process, and that apart from awarding contracts indiscriminately without the knowledge and approval of the governing council, general funds accruable to the ivory towers could also not be accounted for.

Speaking with The Guardian on the phone, the Chairman of the Governing Council said, “the issue is that people are used to operating as sole administrators without a functional governing council. The people who put in place the governing council were not stupid. They knew very well that one man cannot run a university singlehandedly, else they would have named the VC as principal.’’
Inyang said that in order to put the records straight, “we have invited an external auditor to look at our income and expenditures for the past three semesters.’’ On reports that the state government had frozen the institution’s account, Inyang said: “the account is not frozen.’’
When contacted on phone, the Vice Chancellor said, “do not worry about it, I have been advised by government not to talk to the press. There is no embezzlement. I will not talk till the report is all out. It is only after that that I will grant you interview. I am advised not to talk on this matter yet, please bear with me.”
Source: News


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