FUNAAB Recovers ₦27 Million Through EFCC Intervention, Reaffirms Commitment to Accountability

The Federal University of Agriculture, Abeokuta (FUNAAB) has confirmed the recovery of ₦27 million tied to a long-standing dispute over the lease of a property intended to serve as its Liaison Office and Guest House in Abuja, following the intervention of the Economic and Financial Crimes Commission (EFCC).

In a press statement issued by the Ag. Head, Directorate of Public Relations, Olasunkanmi Olajide, the university stated that the recovery underscores its commitment to transparency, accountability, and prudent management of institutional resources.

According to the statement, the transaction originated in 2011 during the administration of former Vice-Chancellor, Prof. Oluwafemi Olaiya Balogun, when the institution explored the acquisition of a property in Abuja for dual purposes as a liaison office and revenue-generating guest house.

Due to financial constraints, the university opted for a lease arrangement rather than outright purchase of the property, which was valued at approximately ₦300 million at the time. The arrangement was approved by the Governing Council, and a one-year lease agreement of ₦27 million was executed through Mr. Segun Okeowo of Royal Caretaker on behalf of the institution.

However, complications arose after payment when the university was reportedly denied access to the property, as it had allegedly been allocated to another party. This triggered a prolonged legal battle as FUNAAB sought to recover its funds and enforce its contractual rights.

The university later secured a favourable judgment at the High Court affirming its claim, although the case proceeded to the Court of Appeal, prolonging the dispute over several years.

The matter was subsequently reviewed by a Federal Government Visitation Panel, which classified it as a recoverable transaction requiring further intervention. This led to the involvement of the EFCC, which launched an investigation into the case.

After nearly two years of investigation and enforcement processes, the EFCC reportedly recovered the ₦27 million from Dr. Ahmed Mohammed Salik and other parties connected to the transaction, remitting the funds to the university’s account in April 2026.

FUNAAB commended the EFCC for its diligence and professionalism in ensuring the recovery of the funds after more than a decade of legal and administrative processes. The institution noted that the outcome reflects the importance of inter-agency collaboration in protecting public assets and enforcing accountability.

The university further reaffirmed its commitment to due process, institutional integrity, and responsible governance, stressing that the recovery demonstrates its sustained efforts to safeguard public resources.

FUNAAB added that it will continue to uphold transparency and accountability in all financial and administrative operations while strengthening internal mechanisms to prevent future lapses.