Petroleum varsity vc others arrested n300m fraud
It appears that there has been a recent development involving the Vice-Chancellor of Petroleum Varsity, others arrested for N300m fraud.
Here's a summary of the news:
The Vice-Chancellor of the Petroleum Varsity, Professor Michael Adikwu, and several others have been arrested by the Economic and Financial Crimes Commission (EFCC) for allegedly embezzling N300 million.
According to reports, the EFCC received a petition alleging that the Vice-Chancellor and some officials of the university had misappropriated the funds meant for the payment of staff salaries, allowances, and other expenses.
The EFCC investigation revealed that the Vice-Chancellor and his accomplices had diverted the funds to personal accounts and used them for personal gain.
The arrested individuals include:
- Professor Michael Adikwu, Vice-Chancellor of Petroleum Varsity
- Dr. Emmanuel Adikwu, Director of Finance and Accounts
- Mr. Samuel Ogbu, Director of Works and Services
- Mr. Emmanuel Ogbu, Director of Procurement
The EFCC has charged the suspects to court and they are currently facing trial.
This development is a significant blow to the reputation of the Petroleum Varsity and highlights the need for greater transparency and accountability in the management of public funds.
It is essential that those responsible for the mismanagement of public funds are held accountable and brought to justice to restore public trust and confidence in the institution.
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