A group under the auspices of Concerned Workers of the Joseph Ayo Babalola University, Ikeji Arakeji, Osun State, has petitioned the Economic and Financial Crimes Commission of the alleged fraud being perpetrated by some members of management of the institution.

A copy of the petition, which was signed on behalf of the group by Pastor Gabriel Ajayi,  was obtained by our correspondent on Wednesday.

Specifically, the petitioners mentioned the Registrar of the institution, Pastor Wale Aderibigbe and the Vice-Chairman of the university’s Governing Council, Pastor Caxton Fasuyi, both of whom were alleged to have turned businessmen and running the affairs of the institution the way they wished.

According to the petition, the duo were allegedly behind all the shady deals that had been happening in the school for quite some time.

These deals, they claimed, included siphoning of money meant for the running of the institution into private pockets and  awarding of all the contracts to their private firms without following due process.

But the accused persons had denied all the allegations, describing them as malicious and false.

However, the document attached to the petition revealed that, “ Pastor Wale Aderibigbe and Pastor Caxton Segun Fasuyi are the alter-ego directors of Oyan Microfinance Bank and VCL Microfinance Bank respectively and on December 17, 2014, Pastor Wale Aderibigbe as Registrar, awarded contracts worth N220,057,905.00 for the construction of some buildings in the university to some Microfinance Banks.

Efforts to reach Fasuyi were unsuccessful as his lines were not going through and he did not reply the text message sent to him but Aderibigbe spoke with our correspondent in his office.

He said all the allegations levelled against them were lies and mischievous to smear their reputation.

Aderibigbe said he had been assisting the institution financially and that he never misappropriated any funds that belonged to the university.

He said, “All development projects you see on this campus are donation from different people including the VC, even myself. So that we award contract to our companies is not correct. The council decided at one point that when we have anything we want to do and the university has no funds to do it, it gave criteria for doing it, the criteria might involve whoever is doing it should have what we call cost of funding on top of it which is the profit margin to the person to do it .”

He admitted owing a microfinance bank but said the bank had been in existence before the establishment of the university and he had been using it to help many people including the workers of the institution who needed money.

On the alleged inability of the school to pay workers’ salaries and sacking of some workers,  the embattled Register said, “We did not sack, we only gave letter of disengagement to some members of staff because we realised that some programmes cannot pay their way, what we receive from students cannot pay salaries of members of staff in such programmes.

“It is what has been in the pipeline for the past two and half years but out of sentiment and not to send people to the labour market,  we have been trying to see if we can get students into such programmes but after failing to get students into such programmes, we realised that it is weighing down the university, so we decided to do away with such programmes and ordinarily, we can’t keep members of staff when we have done that.”