Missing N800m Worth of Shares: Heads May Roll again in UNN

The administration of Professor Bartho Okolo as the 13th Vice Chancellor of the University of Nigeria, Nsukka (UNN) may have ended but the ripple effects of the alleged humongous rot, financial indiscipline, official sleaze and bare-faced fraud that characterized that administration have refused to die down.
    The Starlite has it on good authority that very soon, many heads will begin to roll if the news that the past administration fraudulently sold the shares of the University worth over N.8billion is anything to go by.
    The Starlite gathered that the current Vice Chancellor, Prof. Benjamin Chukwuma Ozumba in his quest to know more of the status of the investments of the University at the Security and Exchange Commission (SEC) discovered that the immediate past regime had already sold off the shares belonging to the University without due authorization.
    The Starlite also gathered that the Vice Chancellor was even more miffed when it was discovered that there was no financial record of the university where the fund accruing from the sale of the shares was reflected.
    As at the time of filing this report, The Starlite gathered that all those who were in charge at the finance department of the institution are having sleepless nights over the illegal deal. It was further gathered that the University administration has instructed the Bursar of the school to do a memo to the Security and Exchange Commission (SEC) to update the university on what happened to the shares.

Photo: Prof. Ben. C. Ozumba, UNN Vice Chancellor