OAU Students Storm Bank Over Withdrawal of N700,000 From Union, as Bank Indicts ex-union Officer (Video)

Some students of Obafemi Awolowo University, OAU, Ile-Ife, including the union president, Olayiwola Folahan Festus “Reform” alongside other executives of the union on Monday stormed United Bank of Africa, OAU branch to raise questions over the disappearance of over N700,000 from the union account.

The alleged “unauthorised withdrawal according to reports by Eagles post happened on Friday, 8th April 2022 was said to have occurred through the alleged conspiracy of the former Students’ Union President, Dr.IBK colluding with the Union President, Reform.

The financial secretary in a Press Statement made available to OAU Peeps News Agency reveals that the only official way by which the money can be withdrawn from the Union account is that the President and Financial secretary of the Union must themselves fill a withdrawal slip(and never by proxy) and in which the 720,000 withdrawn from the account went against the process, OAU peeps reports.

The Central Executive council hereby made a confrontation against the management of OAU branch of United Bank for Africa(UBA) which is the banker of the Union to explain how the money got missing after which the manager was forced to address the Union officers to allow the bank to investigate the issue after which the CEC gave the bank an ultimatum of one workday to conclude the investigation.

The bank however contacted the Financial secretary to inform him that the transaction was initiated by a so-called ibukun Oyekan(Dr Ibk), to one Bello Oyekunle Saheed. Oyekan Ibukun was able to move the union funds via internet banking platform being the immediate past president of the Union.

He further assured Union members that all hands have been on deck to make sure that every kobo will be accounted for and all loopholes to the account will be combatted. The official report given to him by the bank will be submitted to the Student Union Security Committee, the students representative council(SRC) the investigation department of the university and made available to the generality of the Great Ife Students.