President of the National Association of Local Government Students, Obafemi Awolowo University (NASLOGOS), Akinwumi Opeyemi, who diverted a sum of N565,200, a purported proceeds from freshers' party and annual dues paid by members of the association, could end up in jail having pleaded guilty to the crime, when probed on the matter by the school security team.
Students blog, OAU KILONSHELE, reports that the executives in collaboration with the Head of Department, have decided to hand over Mr. Akinwumi to the Police and later charge him to court.
According to the Criminal Code Act IV of the Nigeria law, any offender who fraudulently takes anything capable of being stolen, or fraudulently converts to his own use or to the use of any other person anything capable of being stolen, is liable to seven years imprisonment.
Also, when questioned as to how these funds were spent Mr. Akinwumi didn't respond clearly and didn't name any mastermind.
The General Secretary, Ojo Oluwatimileyin, in a statement released to OAU Security team, made known the breakdown of the funds misappropriated.
"Akinkunmi Sodiq, the president, embezzled money meant for souvenir booklets, collected money from the association's account without the approval of the staff adviser, failed to remit incomes from Fresher's Party and remitted a sum of 433,800 Naira only out of 820,000 Naira worth of annual dues."
"433,800 Naira out of 820,000 Naira annual dues were remitted which mathematically means 386,200 were not remitted. Funds worth of 107,000 Naira were collected from the association's account without the approval of the staff adviser. 49,000 Naira incomes from the Fresher's party were not remitted and 14,000 Naira is yet to be paid for souvenirs. These funds when added resulted to 565,200."
Mr. Ojo also revealed that the executives had to opt for the collection of financial statement after several disappointments by the president.
Scooper gathered that it all started when the Financial Secretary tried to collect the financial statement from the bank but was turned down several times by the bank because the President and the Head of the Department, Dr D.O. Adeyemo, are the only signatories to the account.
It was recalled that a similar case happened four years ago, which necessitated going through the department's management inorder to prevent embezzlement of funds.
In recent times, the executives have to get approval of funds' letter from the staff adviser, Dr. B.A. Abioro, after which the President and the HOD will append their signatures on it.
The Welfare Director, Aluko Oluwatimilehin, highlighted that the bank finally released the statement of account after the executives submitted a letter of request signed by the HOD.
"The bank gave us the statement of account after we talked to the HOD to give us a signed letter," He said
"We discovered that the president, Akinkunmi Sodiq has been unable to deliver the souvenir booklet in which Dr. B.A. Abioro, the staff adviser has already approved the sum of 117,000 Naira, we summoned several executives meeting and he still couldn't provide the souvenirs. At the request of Dr. B.A. Abioro, we opted for the collection of the statement of account."
In the statement of account which shows the income and expenditure account, a correspondent of OAU Kilonshele confirmed that the total amount of 565,200 had been embezzled.
It was learns that Opeyemi has been impeached on Friday, after an investigative panel set up by the students' representative council recommended his impeachment.
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