By; Ayomide Akinsola
The University of Ibadan Students’ Union (UISU) is under intense scrutiny as fresh audit reports accuse top executives of fund diversion, gross financial misconduct, and breaches of the Union’s constitution. The reports, presented at the Students’ Representative Council’s (SRC) sitting on September 13, focus on two key figures: Emmanuel Olawoye, the Assistant General Secretary, and Covenant Odedele, the Union President. The SRC Audit Committee accused the student union President,Odedele Covenant, the General Secretary, Olowu Victor, and Treasurer Joshua Bioku of securing a ₦2 million Central Bank of Nigeria loan without approval from either the SRC or Congress, as required by the Union’s constitution.
Further scrutiny revealed a series of large transfers into the Treasurer’s personal account: ₦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. No corresponding records were submitted for these disbursements. The House Secretary, Adeyemi Oluwaseun was also cited for allegedly diverting income from Union bus rentals and SUB tenants into his personal account, with no proper approval process.
Separately, the Audit Committee under the leadership of Hon. Awodele Azeezat, examined Freshers’ Week (May 11–17, 2025) coordinated by AGS Emmanuel Olawoye. The Finance Committee approved ₦4,666,460 for the week. The Project & Events Monitoring Committee (PEMC) confirmed ₦2,856,810 was actually spent. However, Olawoye claimed a total of ₦4,376,360, a discrepancy of over ₦1.5 million. One of the most glaring gaps came on Day 6 of the Fresher’s week(Gyration Night). The PEMC reported only ₦5,000 was spent, as the event was fully sponsored by “Campus Rave.” Yet Olawoye claimed about ₦190,000 in expenses.
The Committee also flagged ghost expenditures, inflated graphics and decoration costs, and payments for items that were never delivered. Both Olawoye and other executives were accused of withholding documentation. Despite repeated requests from the audit committee, receipts, invoices, and banners were not submitted. Only a few graphics were provided, months after the events. The Audit Committee noted Olawoye’s “non-cooperative attitude.” The SRC has referred the implicated officers to the disciplinary committee for further investigation. Possible charges include financial misappropriation, dishonesty, obstruction of oversight, and willful neglect of duty.
