How Nasarawa Polytechnic Collected N3,113,694,705.05 billion As Subvention For Salaries And Overhead From October 2014 To October 2017-Report Of Probe Panel
The report of the 7 man probe panel may shocked members of the public with the quatum of monies released to the Nasarawa State Polytechnic, Lafia excluding huge amount of monies generated as Internally Generated Revenue,the institution was seriously in the middle of debt ranking from Bank loans that would not be settle within 2 years.
This revelation was contained in a 284 page probe panel headed by Fati Sabo.
The committee recommended that the three affected management staff,the embattled Rector,Dr.Silas Gyar,Registrar,Labani Dio and the Bursar should be dismissed from the service of the Nasarawa State Polytechnic, Lafia, meaning they would not be entitled to any benefit
The report revealed that the institution generated an IGR mounted to N2, 022,739.00 as from October 2014 to October 2017 respectively.
See the breakdown of the IGR annually
In 2014 the Polytechnic generated N55, 981,080.00 million
In 2015 the same institution IGR raised to N502,481,355.00 million while in 2016 the school realized N453,670,210.00 and in 2017 N381,330,958.00 was generated.
The committee recommended that the principal officers should refund the sum of N332, 247,723.89 million as amount realized under the Internally Generated Revenue.
While the state government accepted that the Accountant General and Auditor General of the state should carryout investigation of the whereabouts of N332, 247,723.89 million
The committee accused the former management staff of financial recklessness, maladministration, gross misconduct, abuse of office and betrayal of public trust while in office
While the state government accepted it recommendation for the culprits to refund all the monies, face disciplinary action and prosecution.
The probe panel also in it findings revealed that the institution collected Illegal bank loan of N56,976,500.00m bank loan with 15 percent interest rate and during the committees assignment the interest raised to N8,298,975.00m.
The see the loan collected annually.
In 2015 N5,800.000.00
In 2016 N10,450,000.00
2017 N34,976,500.00 and no reason was given for the loan collected while in 2014 ,the institution collected loan of N6,200,000.00m to settle arrears of 2014 promotion.
Other observations made by the probe panel says the management staff of Naspoly especially the Rector failed woefully in all management and financial matters particularly in the award of contracts, absence of documents and approvals for payment of huge sums of monies by obtaining loans without due process, Indiscriminate approval and release of funds.
Operating multiple bank accounts listed as cogwheel to the Polytechnic.
The committee recommended that all monies expended without any tangible evidence to show should be refunded quoting relevant sections of Financial regulations establishing the Nasarawa State Polytechnic.
Section 219 of the Financial regulations and subsection 17 (e) of the law establishing the Polytechnic stated that all loans obtained without germane reasons should be recovered from the Rector and Bursar that signed and collected them without approval.
Other frivolous spending the committee raised eyebrow also include the sum of N82,431,600.00m which are not relevant to the daily needs of the Polytechnic, they are
Printing/Stationeries N55,600,000.00 million
Council expenses N10,689,000.00
Car maintenance N6,673,600.00m
Even with the introduction of the Treasury Single Account, the Polytechnic still operates over 15 Bank accounts.
The Accounts are
2.Stanbic Bank. 0011880740
3.Diamond Bank 0015361418
5.Union Bank. 0042938119
6.First Bank. 2013728230
NASARAWA POLYTECHNIC GENERATE N42,267,132.00M FROM 10/2014—10/2017.
The investigative panel uncovered that the institution generate N42,000,000m under Enterprenuership as each student were foist to pay N2000.
The committee revealed that in 2014 N7,106,000.00m was realized under Enterprenuership
In 2016,N12,212,000 and in
2017 N11,819,132.00m and N41,813,600.00m was lavished remaining the balance of N46,560.33K , the affected staff explained that the money was spend on Workshops, Seminar and Jamboree.
The dismissed Rector it was learnt connived with a Bank to divert money meant for Enterprenuership by logging monies realized from the Programme to his personal Account using his native names of Dogagbo Runkpa instead of his official name,Dr.Silas Gyar.
The committee recommended that they should recover the monies and be prosecuted .
N26,319,361.74 WAS REALIZED FROM INDUSTRIAL WORK EXPERIENCE (SIWES)
The Nasarawa State Polytechnic, Lafia under it Industrial training and work experience generate N26,319,362.74m , the committee recommended that Andah Mamman and Silas Gyar should cough the sum of N4,596,885.13m
See the collection below
- N6,370,000.00m and money realized was logged into SIWES Account number 1005520472.
With the frivolous expenses incurred only N3,393,976.00m remind in SIWES Account.
CONSULTANCY SERVICES UNIT GENERATES N185,200,740.00M FROM 10/2014—-10/2017
The panel recommended that the Programme coordinator, Mohammed Umar Aboki and the embattled Rector,Dr.Silas Gyar should refund the sum of N73,591,632.49 as it recommended for the closure of multiple Bank Accounts to reduce leakages.
It was discovered that the management collected a loan of N45,000,000.00m on behalf of the Consultancy Services Unit.
COLLECTED N2,510,093.29BN FROM TETFUND FROM 10/10/2014–10/2/17.
Apart from the huge amount of money realized from the government of Nasarawa State as Subvention for salaries and overhead,it also realized the total sum of N2,510,093.29bn from the Tertiary Education Trust Funds but with nothing to show for the amount Collected in three years.
The investigative panel in it report uncovered that N54,647,100.00 was expended on non existing project urging the former management to account for the sum of N655,468,.06m and directed that all projects should be completed before March this year.
In 2013–2015 the Polytechnic got N361,099,613.00m from N655,468.00m with a balance of N60,936,497.02 ,as N300,163,115.98m was expended on staff training, Workshops, Conference and Research work.
The committee faulted Gyar for sponsoring and outsider from the amount urging him to refund the sum of N1.877,020.00m money earmarked to wife,Mrs Maria Fagson dated 14/4/2014.
While Dr.Silas Gyar allocated N9,165,452.80m to himself as money for a conference he did not attend.
To be continued