Buhari warns VCs against funds mismanagement

President Muhammadu Buhari has warned authorities of the nation ’ s universities against mismanaging their institution ’ s allocation or engaging in gross moral and ethical violations .
The president said any university council or management indicted of immoral acts or fraudulent practices would henceforth be made to face the full wrath of the law .
Buhari ’ s Riot Act was contained in the speech read on his behalf in Abuja on Friday by the Executive Secretary , National Universities Commission , Prof . Abubakar Rasheed , during the sixth convocation ceremony of the National Open University of Nigeria .
No fewer than 31 students were awarded first - class degrees out of the 12 , 000 students that graduated on the occasion .
Buhari said his administration placed a premium on tertiary education as a potent instrument of change in the collective resolve of the country for the rebirth of a new nation.
The President said he had already directed the Minister of Education, Adamu Adamu , to demand quarterly reports from universities detailing their major financial and administrative activities.
He said , “As we move to address the existing needs of our universities , we demand that the leadership of these institutions should reciprocate government ’ s gesture by judiciously utilising their funds with utmost integrity and probity .
“ Any university council or management found wanting in relation to financial mismanagement or gross moral and ethical violations will be made to face the full wrath of the law .
“ I have already directed the Honourable Minister for Education to demand quarterly reports from all universities detailing their major financial and administrative activities. A template for such reports will soon be circulated to the universities by the Federal Ministry of Education through the NUC. ”
At the event , 27 - year - old Nkwor Jude Peter of the Department of Accounting from the Ikeja Study Centre in Lagos emerged the best graduating student with a Grade Point Average of 4 . 83 .
Meanwhile , the NUC has vowed to shut any university in the country which rejects graduates of NOUN for postgraduate programmes because the institution ’ s degree is enjoying global acceptability.
The Vice Chancellor of NOUN, Prof . Abdallah Adamu , had on the occasion complained to the NUC boss that graduates of the institution were being denied admission for master ’ s and other postgraduate degree programmes in conventional universities .