The Oyo State Government has appointed external auditors to audit accounts of the Ladoke Akintola University of Technology (LAUTECH) and other tertiary institutions owned by the state.
According to the Commissioner for Education, Prof. Adeniyi Olowofela, the measure is to ascertain the true financial and personnel state of the institutions.
This, he said, would help government determine the level of intervention required as well as their capacity for self-sustenance.
Recall that last year, the government had cut subventions to the institutions to only 25 per cent, directing them to look inward to generate more revenue for self sustenance.
Olowofela said the appointed auditors would start work in two weeks’ time.