Wednesday, 13 April 2022

Alleged Withdrawal Of #720,000 From Union Account, SRC Writes To The Financial Secretary


By Ayomide Emmanuel

The Students Representative Council has written an Open Letter to the Financial Secretary of the Great Ife Students' Union Comrade Abiola Joy Oluwasegun "Legbeti" over the withdrawal of a 720,000 which was made from the Students' Union account on Friday, 8th April 2022 was declared illegal because the President of the Union and the Financial Secretary who were the signatory to the account claimed they didn't signed any withdrawal. 

Click on the picture for more details

Further investigation has revealed that the money was moved from the Union account via Internet banking by Mr Oyekan Ibukun "Dr.IBK" an impeached OAU SU President into the account of one Mr Bello Oyeku. 

In response to the whole issue, the SRC under the leadership of RT. Hon Ajadi Toheeb Babatunde wrote an Open to the Financial Secretary. 

The letter read thus: 

Financial Secretary, Great Ife Students’ Union Obafemi Awolowo University, Ile-Ife, Nigeria. 

Dear Abiola Joy Oluwasegun (Legbeti),



On April 9th, we woke up to a news item by Eagle Post which stated that a sum of over N700K was illegally and fraudulently withdrawn from the Union account, and the said news paper mentioned specifically that the persons involved are the President of the Students’ Union, Olayiwola Festus Folahan (Reform), and a former impeached president,Ibukun Oyekan David (IBK), who has notoriety for fraud. Thereaer, the President came up with a rejoinder stating that he was shocked to have heard that kind of story, and as far as he is concerned, the Union money under his watch was intact. You also claimed that the news item also shocked you, and that you were not aware because your phone was not in good condition, and as such the whole of the analysis as to withdrawal was strange to you. 

The matter has now brought a damage to the Union and the leadership, the Parliament will like to be cleared on the issues from you; 

1.What is the Current State of the Union Account? 

2.When were you aware about the plan of IBK to fraudulently remove money from the Union account?

 3.Was the Union President also aware of the attempted fraud to be perpetuated by IBK?

 4.What were the steps you took to prevent the sacrilage?

 5.Who are the signatory to the Union account? 

6. Why did you not go to the bank to inform them about the fraud that was coming? 

7.Were you aware of the Internet Banking Facility? 

8.Who are the persons that have access to the Internet Banking Facility? 

9.What step did you take to discontinue the Internet Banking Facility knowing that you have no access to it?

 10.Was there any point in time that the President discuss the matter or compel you to allow IBK move the money?

11.At  what  time do you think it  was appropriate to inform the Parliament  and the Students about  the attempted      fraudulent  act? 

12.As a future accountant,  at  what  stage do you think it  was appropriate to stop the fraud,  is it  when it  has been committed or when it  is about  to be committed? 

13.Why did you choose to report  to the University Security Department  rather than the Students’ Representative     Council  through  its  Leadership? 

14.Were you at  any time aware that  IBK was a former impeached president  on corruption/stealing related matters?

 As an accountant,  are  we going to be wrong if  we then say that  your laziness,  professional laxity,  intellectual sluggishness,  has brought  this opprobium on the Union and has severely damaged the cherished image of  our Union.  As it  stands today,  the picture on the mind of  the public is that  the Union is dominated by thieves.

 Again,  will you consider our statement  wrong,  if  we say that  you have not  only dragged the name of  the Union to the mud,  but  also disrespected the generality of  Great  IFE,  by not  giving a timely blow-by-blow  information that  could help to prevent  this shameful occurence. 

In any case,  of  what  profit  was it  to the Union,  that  you and your cohort  were playing along,  making the Union to loose that  amount  of  money. 

 In any case,  the characters of  the persons are well known to the students that they are certified thieves. We appreciate if  you address this matter point  by point,  and also we expect  to receive response in 48 hours for futher considerations and actions. Accept  our best  regards. 

e-signed Rt.  Hon AJADI Toheeb B. Speaker,  Great IFE SU 

e-signed Hon ODETUNDE Dickson A. Clerk,  Great IFE SU

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