Osun State College of Education Governing Council Denies Financial Scandal Allegation
Governing Council of the Osun State College of Education, Ila-orangun, under the leadership of Dr Peter Babalola has described as baseless and unfounded, the allegation that the council under his watch squandered N200 million within five months of its assumption of office.
Dr Babalola made this known while reacting to series of allegations by a media report in Osogbo.
He said the allegations were a figment of imagination of the originator and a smear campaign against his person.
Dr Babalola maintained that an Institution that could not sustain accreditation exercise without recourse to borrowing from financial institution cannot be accused of squandering such a humongous amount.
He noted that the college under his supervision spent N81 million for the accreditation of five courses and obtained N35 million loan approved by the state government on December 6, 2023.
Dr Babalola said the embattled Provost of the college had earlier projected a sum of N139 million for the exercise before the governing council worked on how the amount was pruned down to N71 million.
Dr Babalola alleged the suspended provost of sabotaging efforts of the council in raising funds for the accreditation exercise, which led the governing council to ensure that resources were pull together from the college various accouts and the raising of a loan of N35 million from a financial institution.
The chairman maintained that the council should rather be commended than being condemned after the successful completion of the exercise considering what it achieved.
Reacting to the allegation in the newspaper report that the council have been meeting weekly since its inauguration, the chairman said they have only met 3 times and statutory allowance was paid twice
He said he never demanded for money from the management for any purpose whatsoever as alleged in the media report.
Dr Babalola maintained that the council under his watch and in line with the vision of the visitor to the college, Governor Ademola Adeleke would continue to ensure that the college grows in leaps and bounds.
