EFCC raises the alarm over mismanagement of students’ fees in universities

The Chairman of the Economic and Financial Crimes Commission, Ola Olukoyede, has raised concerns over the diversion of students’ fees and other financial irregularities in Nigerian universities, warning that such practices erode trust in the education system.

In a statement issued by the commission’s spokesperson, Dele Oyewale, Olukoyede spoke in Kano on Tuesday while delivering a keynote address at the 8th Biennial Conference of the Committee of Pro-Chancellors of State Universities in Nigeria.

According to him, investigations by the EFCC have uncovered widespread financial misconduct in tertiary institutions, including inflated contracts, ghost workers and the diversion of students’ fees.

He said each case not only reflects a loss of public funds but also represents a breach of trust by institutions expected to uphold accountability on behalf of students, parents and taxpayers.

Olukoyede noted that many universities manage multi-billion naira budgets from sources such as tuition, TetFund allocations and research grants, yet continue to face serious accountability challenges.

He urged university authorities to adopt Artificial Intelligence as part of their financial and governance systems to curb corruption, improve transparency and strengthen institutional oversight.

Describing AI as a critical tool in tackling financial crimes, he warned that Nigerian universities risk falling behind if they fail to embrace technology-driven governance.

He identified key areas where AI could be deployed, including fraud detection, automated auditing, payroll monitoring, procurement processes and academic integrity systems.

The EFCC chairman also called on governing councils to set up AI and digital governance committees, develop integrity-driven digital strategies and invest in infrastructure such as broadband, cybersecurity and cloud technology.

While acknowledging the potential of AI, Olukoyede stressed that technology alone cannot eliminate corruption without a strong commitment to ethical conduct.

He further advocated closer collaboration between universities, the EFCC and other relevant agencies in training and intelligence sharing, noting that tackling corruption requires a collective and sustained effort.