Exclusive! Massive Fraud In Osun College Of Education As Auditor General Issues 21-Day Ultimatum To Bursar To Refund Over N400 Million Missing Fund 

The Auditor General of Osun state, Mr Folorunso Adesina, has issued a 21 days ultimatum to the Bursar of Osun state College of Education Ila-Orangun, Mr Rasheed Olanrewaju Oyedeji to refund missing fund in the college coffers or face the full weight of the law. 

According to a letter signed by the Auditor General dated 14th March, 2022, addressed to the Provost of the College, Adesina alledged that the Bursar committed financial misconduct and infraction which resulted to missing funds to the tune of Four hundred and twelve million, three hundred and fifty-nine thousand, nine hundred and two naira, ninety-seven kobo only (412,359,902.97) from the College coffers. 

The Auditor General also alleged that the Bursar concealed certain documents that would have reveal more missing fund and advised the Bursar to produce the concealed documents before the ultimatum elapsed. 

The Auditor General said “It is my strong opinion that Mr Rasheed Olarewaju Oyedeji, the Bursar of Osun State College of Education has committed financial misconduct and infraction which have resulted in huge loss of fund to the state government. 

He added “the audit is of the opinion that release of documents as required will expose more losses and irregularities.”

“In line with Financial Regulation 3702, the Bursar has the opportunity of twenty one (21) days within which to refund all the funds and make available the demanded records failure of which full weight of the law will be brought down on him”, the Auditor General said. 

Reacting to the letter, the Bursar  said “the matter is already before the Osun State House of Assembly and the House of Assembly has not brought out their final report on the matter. As a result of that, I will not be able to make any comment untill when the final report of the House of Assembly is out. That is my position”.