JamzNG Latest News, Gist, Entertainment in Nigeria
The Chairman of the Economic and Financial Crimes Commission, Ola Olukoyede, has expressed concern over student fee diversion and other financial irregularities in Nigerian universities, and warned that such practices threaten the credibility of the higher education system in the country.
Olukoyede made the remarks on Tuesday in Kano while delivering the keynote address at the 8th Biennial Conference of the Committee of Pro-Chancellors of State Universities in Nigeria, according to a statement issued by EFCC spokesperson Dele Oyewale.
He revealed that investigations carried out by the commission had uncovered many cases of financial violations within higher education institutions, including inflated contracts and payroll fraud.
“The EFCC has been investigating cases involving inflated contracts, ghost workers and diversion of student fees in tertiary institutions across the federation.
“Each case represents not only a loss of public funds but also a betrayal of the trust that Nigerian parents, students and taxpayers place in the university system,” he said.
The EFCC chairman noted that universities juggle enormous financial resources—from tuition payments to allocations from the Tertiary Education Trust Fund and research grants—but still continue to grapple with accountability issues.
To overcome this challenge, he called on university administrators to integrate Artificial Intelligence into their financial management and governance systems as a means to strengthen transparency and eradicate corruption.
READ ALSO: NEMA receives 181 Nigerians evacuated from Libya through assisted return program
“Universities that lack financial accountability cannot credibly train future accountants and auditors, and universities that tolerate fraud cannot produce the ethical professionals our economy needs,” he said.
Olukoyede identified key areas where AI can be applied effectively, including fraud detection, automated audits, payroll monitoring, procurement oversight, and maintaining academic integrity.
He also urged the governing council to establish a dedicated AI and digital governance committee, develop a robust digital integrity framework, and invest in critical infrastructure such as broadband connectivity, cybersecurity systems and cloud technology.
While highlighting the potential of technology, he warned that systems alone cannot eliminate corruption without a strong ethical foundation.
“No matter how sophisticated the technology is, its effectiveness ultimately depends on the integrity of the humans who will utilize the tool,” he added.
He further emphasized the need for stronger collaboration between universities, the EFCC and other relevant institutions, especially in the areas of training and intelligence exchange, and stressed that eradicating corruption requires collective and sustained efforts.
