College of Education, Akwanga Personnel Cost From October 2014-October 2017 Gulped N5.1 Billion

Rabiu Omaku

The report of the Fact Finding Committee of the College of Education, Akwanga revealed that the institution has expended a whooping N5, 170,978,179.00bn as staff salaries, allowances to Youth Corp members.

Other financial commitment includes payment of pension and gratuity of retired Personnel and security guards, the Commitment further disclosed that the amount represent 43% of total expenditure.

In 2014 ,the College expended money to the tune of N1,474,686,959.00 billion and 2015 ,N1,285,158,401.00 billion was spent on the same purpose while in 2016,N1,345,089,622.00 billion and in 2017 ,N1,065,043,197.00 billion was expended on Personnel cost respectively.

Other income include N4,537,898,854.00 billion realized from the Tertiary Education Trust Fund, the amount represents 39% of gross income.

See the breakdown

2014- N1,913,765,282.00bn

2015-N1,914,895,302.00bn

2016-691,238,270.00bn

2017-N18,000,000.00bn

Capital Expenditure Financed by TETFUND cost N5,079,746,285.00bn,the amount represents 42% of total expenditure

2014-N1,682,504,841.00bn

2015-N2,522,236,205.00bn

2016-N875,005,239.00bn

2017-N397,545,419m.

Overhead Cost

This include running cost, stationaries, transport ,travel expenses and miscellaneous cost N1,822,402,270.00bn

Expenditure

Expenditure of the institution gulped N12,073,126,734.00bn

2014- N3,569,445,604.00bn

2015-N4,388,778,082.00bn

2016-N2,652,314,432.00bn

2017-N1,462,588,616.00bn.

College of Education, Akwanga had total income of N11,659,830,231.00bn for the period under review.

The Committee observed that all funds generated by the College from various sources were utilized for the daily running of the College, improvement of infrastructures, provision of Teachers’ Training and Human Capacity Development.

That the funds accruing to the College from January ,2014 to October,2017 through Internally Generated Revenue were satisfactorily ,Judged by the amount generated ,though there was room for improvement.

The funds accruing to the College between the period under review through TETFUND allocation was satisfactory, Judged by the projects executed.

There was no fund from the State Government for physical development, only salaries and overhead cost were released.

The funds accruing to the College through IGR and TETFUND were satisfactorily utilized

23 projects were executed through TETFUND allocations out of which only one construction and furnishing of school of languages came under normal intervention.

All the others special intervention projects were to through the efforts of the College Management.

That 15 projects executed through IGR were through direct labour Committee , this is against the Procurement Act which requires that such projects be carried out through out through competitive biddings.

The College awards contracts for TETFUND projects and the contract sums for TETFUND projects were satisfactory.

It revealed that in contracting out the construction of TETFUND projects ,there were few lapses as some contractors did not have all the pre-requisite documents, for instance adverts ,scoring of contractors and pre-qualification documents for projects were not in strict conformity with regulations which stipulates that contractors must possess all the following

A company Registration from Corporate Affairs Commission

PENCOM Certificates

Industrial Training Fund certification

Interim Registration Report from the Bureau of Public Procurement

Recent Tax Clearance for 3 years and

Evidence of previous similar jobs undertaken by the Contractors.

The Committee recommended that the State Government should provide funds for physical development to aid the College in the provision of more infrastructures in view of the increasing number of students’ population.

The State Government however observes that though the operating Bank Accounts should be downsizing to two Accounts.