The management of Osun State University (Uniosun) has recovered over N290 million of unremitted funds from the institution’s service providers and banks.
The Vice-Chancellor of the institution, Professor Clement Adebooye, lauded the bursary department of the institution for deploying technology to trace and recover the funds.
The bursar of the school, Mr Feruke Bolarinwa, during the bursary maiden annual lecture of Unisoun tagged ‘Securing The Future: Financial Resilience and Risk Management in Nigeria University System’ disclosed that full automation of the department made the recovery easy.
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According to him, “We recovered N280 million unremitted funds by the university’s service providers back to the coffers of the school and recuperated N10 million excess bank charges from our financial institutions. We have introduced computerization to the department which made work easy.”
On his part, Professor Adebooye said, “The topic (of the lecture) resonates deeply with the mission and vision of the institution. We are committed to academic excellence and societal development, we recognize the imperative of maintaining financial resilience in the face of challenges and uncertainties. The financial landscape of our Universities is multifaceted, marked by complexities and dynamic changes.
“In navigating these challenges, effective risk management becomes paramount. Our ability to secure the future of Osun State University hinges on our capacity to identify, assess, and mitigate financial risks while embracing innovative and sustainable financial practices.”