Financial Secretary Presents First Semester Expenditure To UI SRC

By: Sonaike Peter

On the 20th of January, 2024, the financial secretary of the Student Union presented the financial expenditure to the house at the UI’ SRC sitting held at the SRC chamber.

Details of the budget; for the SEALS Cup, 100,000 was disbursed, not from the Znion’s purse but from the sponsorship gotten by the Sport Secretary.

Out of 73 students that were beneficiaries of the bursary, 69 students got 20,000 each, two students got 15k due to low performances, while with two students getting got full payments of 74,500 and 68,000 respectively.

Also, it was presented that the Union sold three of its buses at a price of 6.1 million and bought a new bus at 11,170,000 naira.

Concerning the mock exams, there was a bit of controversy as the financial secretary disbursed more than what was approved by the financial committee – While the Financial Committee approved 67,000 for the mock exams, the financial secretary disbursed 70,400.

The financial secretary, Mr. Hammed Erinfolami attributed the over-disbursement to the conflict of interest between the financial committee and the Office of the Financial Secretary. In his words, “I was not carried along with process of preparation of budget for the mock exams, and that has resulted in disbursing more than what was approved.”

The House then made a resolution that both financial secretary and the financial committee should be referred to the Disciplinary Committee and that the financial secretary should prepare the drafting of the expenditure again.

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