The management of Lagos State University has denied it diverted N198 million from the pension fund of its staff to purchase luxury vehicles, despite multiple official memos issued by the university’s Governing Council, its highest decision-making body, clearly showing it did.investigation which revealed that it illegally withdrew a total of N689 million in March and October
In fact, a week before the story was published, the management pleaded for an additional 48-hours to react to the findings of the investigations but still did not send any reaction. But official memos from the university’s governing council and its bursar, obtained by PREMIUM TIMES, show that Mr Adekoya’s claim is false.
Another memo by the governing council dated October 5, 2018, signed by one Mustapha R.M for the school registrar also described the N474 million used for the October accreditation as “temporary borrowing”.