Following the failure of the management of Yaba College of Technology (YABATECH) in Lagos to submit its audited reports to the Auditor General of the Federation since 2014 till date as required by law, the House of Representatives has issued a 30-day ultimatum to the institution within which to prepare its accounts and remit same.
The House equally directed the management of the institution to lay before the committee proof of full compliance when next it appears before it.
The House Committee on Public Accounts took the decision at the weekend when the management of the Institution led by its Rector, Engr. Obafemi Omokungbe, appeared before it in Abuja at the resumed public hearing.
The rector had told the committee during the investigative hearing on the refusal of Non-Treasury Funded and Partially Funded Agencies to render their Audited Accounts covering the period 2014-2018 to the Auditor General of the Federation that he assumed office in 2018. He added that the accounts would be transmitted to the Auditor General of the Federation once the external auditor completes work on it.
The Chairman of the Committee, Hon. Oluwole Oke, who described the claim by the rector unacceptable as it’s against financial regulations guiding civil service, directed that the institution be placed on the status inquiry for the period under review to probe into its financial records.