Editors’ Note: This publication, detailing allegations of financial misconduct by Mr Bioku Joshua, the University of Ibadan Students’ Union Treasurer, is based on the findings and reports of the Audit Committee and Disciplinary Committee of the Students’ Representative Council (UI’SRC), 12th Assembly.

The Students’ Representative Council, in a letter dated August 29, 2025, and signed by the Speaker, Rt. Hon. Shoge Quadri Olaoluwa, alongside the Clerk, Hon. Adedeji Praise, accused the Students’ Union Treasurer, Joshua Bioku, of financial misappropriation, breach of fiduciary duty, fiscal irresponsibility, and violation of constitutional provisions amounting to gross misconduct.

The letter, titled “Notice of Referral of Certain Members of the Executive Committee of the University of Ibadan Students’ Union for Appropriate Disciplinary Action,” was addressed to the Disciplinary Committee for investigation and possible sanctions, as revealed in a recent report by the committee.

Indicting Mr Bioku, the Disciplinary Committee Chairman, Olanrewaju Basit Olatunde cited the SRC’s referral and the Audit Committee’s findings, stating that “suspicious disbursements of ₦500,000 (27th June 2025) and ₦1,500,000 (1st July 2025) were made into the Treasurer’s personal account.”

It added, “The President, General Secretary, and Treasurer unconstitutionally authorised a ₦2,000,000 loan without SRC or Congress ratification.”

“As co-signatories, the General Secretary and Treasurer are jointly and severally liable.”

Following the receipt of the letter by the SRC leadership, the Disciplinary Committee, on September 5, issued letters titled “Notification of Alleged Offences and Request for Statement of Defence” to the President, General Secretary, and Treasurer, all of whom have since responded.

A List of Allegations

“From the statement of account review, the Audit Committee noticed several large transfers made into the Treasurer’s personal account,” the Audit Committee revealed.

The transactions included ₦2,001,000 on May 12, ₦1,820,000 on May 16, ₦300,000 on May 26, ₦500,000 on June 27, and ₦1,500,000 on July 1.

The Audit Committee discovered that between May 12 and July 1, 2025, a total of ₦5,121,000 was transferred without supporting documentation or clear authorization.

The Audit Committee stated that on June 27, 2025, the Union executives secured a ₦2,000,000 loan from the Central Bank of Nigeria (CBN) without informing or obtaining approval from the SRC.

“On that same day, ₦500,000 from the loan went into the Treasurer’s account, followed by another ₦1,500,000 on 1st July 2025,” the Audit Committee added.

“The Committee considers this a serious breach of accountability and transparency. The unexplained transfer of Union funds into a personal account, combined with failure to honor summons, raises strong concerns of financial misconduct,” the Audit Committee report stated.

What Awaits in the Disciplinary Committee’s Hands

The Disciplinary Committee stated that investigations are ongoing and that all written defences will be carefully reviewed.

The committee stated, “A date shall be fixed for a physical disciplinary hearing where all respondents will be interrogated and the referrals will be give room to prove facts in issues and facts relevant to facts in issues.”

“Following deliberations, the Committee will determine appropriate sanctions where necessary, guided by the provisions of the Constitution of the Students’ Union, University of Ibadan, Ibadan, 2001, spirit of fairness and justice,” it added.

This accountability report was jointly produced by IndyPress, AfasPress, ZikPress, History Press, in affiliation with the Union of Campus Journalists, University of Ibadan.