Get real time updates directly on you device, subscribe now.
Senate has commenced Investigation into alleged mismanagement of N300 million Internally Generated Revenue (IGR) by National Board for Arabic and Islamic studies
The Institute failed to remit fund realized from examination fees iinto Consolidated Revenue fund (CFR).
This decision was taken by Senate Committee on Finance, chaired by Senator Adeola Olamilekan.
The trouble started when Registrar of the Institution Mohammed Abdullahi told the senate committee on finance, that the Institute generated N412 million from January till August 2022
, out of which, only N35 Million was remitted to the Federation account.
He added that the Institution with 33,000 students has staff strength of 5000, and N8.9 Billion as personnel cost
Reacting to his submission , chairman Senator Adeola.asked for the break down of the 14,000 exam fees paid by each student
Related Posts
The Registrar stated that the 14,000 is for printing exam sheets , purchase of stationeries for examiners and transportation of exam sheets.
The lawmakers expressed disatisfaction with the Registrar’s inability to justify the cost of exam fees and failing to fully remit all monies generated as a fully funded government agency.
The Committee agreed to set up an adhoc committee to investigate activities of the Institution and ensure all funds generated are paid to the government coffers to reduce the yearly budget deficits.
The adhoc Committee is expected to concluded the Investigation within two weeks.
