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OAU: Bank reverses illegally withdrawn N720,000 Students’ Union funds

The United Bank for Africa has reversed the sum of N720,000, earlier illegally withdrawn, into the account of the Students’ Union of Obafemi Awolowo University, Ile-Ife.

This was confirmed in a statement made on Thursday night by the Public Relations Officer of the Union, Ogunperi Taofeek, and made available to our correspondent.

The PUNCH had earlier reported that an ex-President of the Union, Oyekan Ibukun, was remanded in Kosere Prison, Ile-Ife, on Thursday morning, by a Magistrate Court in Ile-Ife, over his alleged connection to the illegal withdrawal of N720,000 from the account of the current administration of the Students’ Union.

Oyekan was remanded after he failed to meet his bail requirements. The court adjourned further hearing on the case till April 26.

However, the Union PRO confirmed the reversal of the money into the Union’s account.

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The Union’s statement read in part, “The leadership of the Union will like to confirm to the generality Great Ife students that the much-debated missing Union fund is now reversed.

This is coming as a result of the relentless efforts of the Executives of the Union, including, but not only, the Financial Secretary, Comrade Oluwasegun Abiola Joy “Legbeti” and the President, Comrade Olayiwola Folahan Festus “Reform”, buoyed by the checks of Honourables and Great Ife students in general.

“The leadership of the Union salutes all Great Ife students for their doggedness and a keen interest in the issues surrounding the money. Indeed, it is the dauntless spirit of justice of IFE which has ensured that UBA bowed to the pressure mounted on them over the issue. The court case continues. All needed measures to safeguard the money of the Union shall be taken promptly.”

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CREDIT: ALLSCHOOL, Punch

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