Concerns as committee uncovers alleged N500m fraud at Delta Polytechnic

A shocking discovery has been made at Delta State Polytechnic, as an audit committee has uncovered an alleged N500 million fraud. The committee, set up in August 2024 to investigate financial activities at the institution, has raised serious concerns about financial management and accountability.

According to sources, the audit committee discovered discrepancies in the polytechnic's financial records, including suspicious transactions and unaccounted-for expenditures. The alleged fraud is believed to have occurred over a period of several years, with some reports suggesting that it may be linked to a larger pattern of financial irregularities within the state.

The Delta State government has been urged to take immediate action to address the allegations and ensure transparency and accountability in the management of public funds. "This is a serious issue that requires a thorough investigation," said a spokesperson for the state government. "We will do everything in our power to get to the bottom of this and ensure that those responsible are held accountable."

The discovery of the alleged fraud has sparked widespread concern among students, staff, and the wider community. "This is a betrayal of the trust that has been placed in the management of the polytechnic," said a student leader. "We demand a full investigation and action to prevent this kind of thing from happening again in the future."

The audit committee's findings have been submitted to the state government, and a full investigation is expected to be launched in the coming days. As the probe continues, many are left wondering how such a large-scale fraud could have gone undetected for so long, and what measures will be taken to prevent similar incidents in the future.

https://guardian.ng/business-services/entrepreneur/concerns-as-committee-uncovers-alleged-n500m-fraud-at-delta-polytechnic/