OAU student risks jail term over embezzlement of 0.5 million naira.
Peter Oyebanji
The President of the National Association of Local Government Students, Obafemi Awolowo University (NASLOGOS), Akinwumi Opeyemi, has stolen a sum 565,200 Naira which is the proceeds of the freshers' party held and annual dues paid by members of the association.
As gathered by OAU KILONSHELE, 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.
It was however established that the President misappropriated the huge sum as he pleaded guilty of the allegation when interviewed by the school security team.
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.
OAU KILONSHELE learnt 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.
Speaking with OAU KILONSHELE, 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.
However, on Friday, the President was impeached after an investigative panel set up by the students' representative council recommended his impeachment.
"The president, who we all trusted, was impeached for misconduct, misappropriation of funds and embezzlement. When we found out he was involved in such an act, I was really surprised." The speaker of the SRC, Saliu Abdulrauf, said.
Speaking with our correspondent, a student of the department who preferred to be addressed as Lydia said "He has been impeached and that is exactly what he deserved. I don't know anything about his current state but I can say it happily that he deserved to be impeached."
As at the time of writing this report, OAU Kilonshele learnt that the case is still being handled by the school as his family has been contacted and has made a promise to refund the embezzled funds.
However, the Chief Security officer of the school, Babatunde Oyatokun, when contacted, revealed that a dime has not been paid by the family as promised.
"The family has shown up and they have made it known that the money will be refunded, however as at the time of speaking with you, I can tell you that no money has been received."
The President of the National Association of Local Government Students, Obafemi Awolowo University (NASLOGOS), Akinwumi Opeyemi, has stolen a sum 565,200 Naira which is the proceeds of the freshers' party held and annual dues paid by members of the association.
As gathered by OAU KILONSHELE, 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.
It was however established that the President misappropriated the huge sum as he pleaded guilty of the allegation when interviewed by the school security team.
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.
OAU KILONSHELE learnt 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.
Speaking with OAU KILONSHELE, 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.
However, on Friday, the President was impeached after an investigative panel set up by the students' representative council recommended his impeachment.
"The president, who we all trusted, was impeached for misconduct, misappropriation of funds and embezzlement. When we found out he was involved in such an act, I was really surprised." The speaker of the SRC, Saliu Abdulrauf, said.
Speaking with our correspondent, a student of the department who preferred to be addressed as Lydia said "He has been impeached and that is exactly what he deserved. I don't know anything about his current state but I can say it happily that he deserved to be impeached."
As at the time of writing this report, OAU Kilonshele learnt that the case is still being handled by the school as his family has been contacted and has made a promise to refund the embezzled funds.
However, the Chief Security officer of the school, Babatunde Oyatokun, when contacted, revealed that a dime has not been paid by the family as promised.
"The family has shown up and they have made it known that the money will be refunded, however as at the time of speaking with you, I can tell you that no money has been received."
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