LAGOS— The lecturers of Adeniran Ogusanya College
of Education, AOCOED, Ijanikin, Lagos, are trading
words with the management of the institution over
alleged disappearance of staff pension and
cooperative funds totally N188 million.
The lecturers, under the aegis of Colleges of
Education Academic Staff Union, COEASU, have
issued a two-week ultimatum to the institution’s
authorities to explain the whereabouts of the funds
or academic activities in the school will be shut
indefinitely.
Chairman COEASU in AOCOED, Mr. Avosetinyen
Sonayon, said: “AOCOED is under siege. That is why
there is need for us to liberate ourselves.
“The government gives N125 million to the school as
annual subventions and has directed the school
management to augment staff salaries, other
emoluments and miscellaneous expenditures with its
Internally Generated Revenue, IGR.
“We wrote to the Special Adviser on Education that
the school generates over N1 billion as IGR and that
there is no reason that it can’t pay the over N188
million owed the cooperative.
“Government then directed management to pay us
before three months. But the management argued
that it is using the IGR to augment our salaries.
“Is that possible? Even if it is, why must you owe the
cooperative?
“Our retirees are dying because they can’t access
their pension funds from the Pension Funds
Administrators, neither can they access loan from the
cooperative, because management have hijacked our
funds.”
However, the school’s Registrar, Mr. Bola Disu, said:
“All the issues raised are currently being addressed
by government and the school management.
“The union has been in talks with the management
over some of these issues, but the figures quoted are
outrageous.
“I am not saying nothing is being owed, but what I do
know is that what was inherited by this current
administration went down because of our efforts. I
don’t know where the union got their figures.”




www.vanguardngr.com/2013/10/aocoed-lecturers-mgt-clash-missing-n188m/