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Kwara Poly Top Official Allegedly Diverted Millions Of Naira In Students’ Funds To Personal Accounts
The financial records obtained and analysed by The Informant247 showed that Mr. Aremu, a principal signatory to the Student Union’s account with Access Bank, diverted these funds in seven separate transactions over a period of three months.
Between April and June 2024, financial records obtained by The Informant247 reveal that the Director of Students Affairs at Kwara State Polytechnic, Mr. Aremu Abubakar Garba, diverted over N10 million in students’ funds into several personal accounts.
These funds, originally paid by students as part of their tuition fees into the Student Union Account for development projects, were transferred in multiple tranches to Mr. Aremu’s accounts with UBA, FCMB and OPAY.
The financial records obtained and analysed by The Informant247 showed that Mr. Aremu, a principal signatory to the Student Union’s account with Access Bank, diverted these funds in seven separate transactions over a period of three months.
On 15 April 2024, N2,000,000 was transferred to his FCMB account, leaving the union account with N11,698,723.77. Just days later, on 24 April 2024, another N2,000,000 was sent to the same account, bringing the total for April to N4,000,000.
In the following month, on 16 May 2024, N500,000 was transferred to his FCMB account, which is the only verified transaction for that month.
On 3 June 2024, a first transaction of N500,000 was made to his FCMB account. On the same day, an additional N4,705,000 was transferred to the same account. Four days later, on 7 June 2024, the sum of N480,000 was moved to his UBA account, again in the name of Aremu Abubakar Garba. Finally, on 19 June 2024, N100,000 was deposited into his OPAY account, a fintech digital service bank.
By the end of June 2024, Mr. Aremu, who is a top ally of the institution’s Rector and appointed in February 2024, had diverted a total of N10,285,000 to various personal accounts, merely five months into his appointment.
Staff, students’ complaints, petitions ignored
A few months after Mr. Aremu’s appointment, several staff and students started raising concerns about his alleged misconduct. Despite multiple complaints, their grievances were largely ignored by the Rector who sources said is privy to and approved most of his actions.
Sources told The Informant247 that the Student Union was supposed to invest in developmental projects using these funds. However, most of these projects were left undone and the funds diverted.
“This is how it works: If the Union, through the school, rakes in N50 million for this session, they must execute projects totaling that amount. These projects will be supervised by the school through the Director of Students Affairs, which is why he is also a signatory to their account,” a staff member, who wished to remain anonymous, told The Informant247. “It’s unfortunate that the very person who should guide them is the one conniving with them to move the funds to personal accounts.”
The Informant247’s further interviews with six students from three different departments showed that the students were at the receiving end of these illegal transactions between the former Student Union officials and Mr. Aremu.
“One of the intended projects was the distribution of souvenirs, including books, to students. However, the last distribution was different. Many students, including myself and several of my friends, didn’t receive anything,” a student, who requested anonymity for fear of retribution, shared with The Informant247.
Another student remarked, “What have they done with the funds they received? They forced us to pay these fees, which are increased annually. There’s no accountability. Last time, they claimed they constructed the student park but what they did was merely flooring. It’s really pathetic.”
However, on 17 July 2024, Mashood Ibrahim, a student, submitted a formal letter to the Rector detailing suspicious financial transactions involving Mr. Aremu and Student Union officials.
The letter sighted by The Informant247 alleged that Mr. Aremu illegally received N2,000,000 on 15 June and another N2,000,000 on 24 June from the students’ account. Independent checks by The Informant247, however, did not corroborate this claim.
“These transactions breach ethical standards and violate financial regulations governing Student Union activities,” the letter stated.
It further alleged that Mr. Aremu colluded with the Student Union executives, particularly the President and Treasurer, in diverting funds intended for student projects. Notably, N5,000,000 earmarked for souvenirs was reportedly mismanaged.
“I respectfully request that the Polytechnic administration conduct a thorough investigation into these illegal financial transactions and take appropriate disciplinary action against those involved. Stricter oversight and accountability measures are also necessary to prevent future incidents,” the letter concluded.
Nearly four months after the petition was submitted and despite several other complaints, The Informant247 reliably gathered that no action has been taken to address the alleged corrupt practices. Sources revealed that Mr. Aremu has claimed immunity from prosecution.
“He still boasts that he can do as he pleases. He told us that complaints from students and staff regarding his financial misappropriation will go unaddressed. He belongs to the Rector’s caucus, and, Yes, they are untouchable,” one source familiar with events at the institution told The Informant247.
‘Forget your evidences; I have Rector’s approval,’ Indicted Director boasts
When The Informant247 visited Mr. Aremu in his office and confronted him with our findings, he vehemently denied receiving any funds from the Student Union account into his personal accounts.
When further informed that there were verified financial records showing he received the money, he told The Informant247 to “forget about the evidence”.
When probed further on what the funds were meant for, he again insisted that he never received any students’ money in his personal accounts.
He sharply added that “whatever was done was with the knowledge and approval of the Rector (Dr. Abdul Jimoh), and Student officials”.
Money paid into students’ account for projects
A visibly shaking Mr. Aremu further furthered that funds in the Student Union account, to which he and two other student executives are signatories, can be accounted for.
He subsequently admitted that some funds were transferred into some students’ personal accounts during the renovation of the school’s car park.
“We got approval to renovate the school park. And we all agreed to do it on direct labour. When you are doing a project on a direct labour basis, you have to keep some money with you for the purposes you want to use it for. We domiciled some funds in students’ accounts. Forget about personal or no personal account; we are using the money for a particular purpose,” he said, adding that the school park was renovated with N6 million.
“With the work we did at that park, the money expended should have been more than that, but because it was direct labour, we were able to manage the money,” he told The Informant247, while showing some documents containing financial calculations and signatures. When asked if we could take pictures or record the documents for independent verification and assessment, he declined.
