By: IndyPress News Desk

A financial report of the University of Ibadan treasury was presented on the floor of the Students’ Representative Council on Saturday, 11th January, 2025, by Onyishi Christian Nwachukwu, Treasurer of the Students’ Union, IndyPress reports.

The report contained details about the statement of the union’s account; detailing the credit and debit facts between 13th May, 2024 to 9th January, 2025.

Worthy of note, the Students’ Union account number is 0005289487; Student’s Union Account Name: University of Ibadan SUG; Bank – Access Bank; Duration : 13th May 2024 to 9th January 2025, and Nigerian Currency: Nigerian Naira.

The report noted that the opening balance of the administration was #13,264, total withdrawals was #4,030,600, income was #4,054,964, bank charges: #6,221, and the closing balance was #18,143.

The report stated that the sum of one million, seven hundred and eighty eight thousand, six hundred naira was received from the University management.

The Union’s incurred expenses included the purchase of phone, freshers’ week, tutorial, parliamentary visit, legislative summit, UI’SU Week, SUEC budget, among others, as indicated below;

On Scholarship and Bursary 

“The Union got a total of 225,400 for scholarship and bursary,” Onyishi Christian said.

However, an additional 664,600 was added to it so as to cater for greater number of students (source undisclosed).

A total of 900,000 was withdrawn for bursary but eventually only 820,000 was disbursed among the forty one beneficiaries (reason unstated).

“The balance of 80,000 naira was returned to the unions account on 4th October, 2024,” the Treasurer’s report read.

The account balance of the Students’ Union as of the fifth ordinary sitting of the Students’ Representative Council was eighteen thousand, one hundred and forty two naira (18,142.71).