Reports of the Abia State House of Assembly ADHOC Committee which Investigated the Financial Management of Abia State Polytechnic, has among other things revealed that the activities of Lloydant Business Services engaged by the Institution is Fraudulent.

The ADHOC Committee which has as its Chairman Hon. Barr. Jerry Uzosike explained that in the course of their investigations, that Lloydant Business Services refused to give the committee the breakdown of its deduction but that sources has it that Lloydant Business Services engaged other Financial Institutions to deduct more than they agreed fee.

According to the Committee, in 2019, the Polytechnic received one Month Subvention, which made AbiaPoly to depend solely on their Internal generated revenue through levies on the students.

Other findings include the fact that the Rectors lodge remains in a very bad condition which made the Rector of the Institution to stay in a Hotel in Aba, pointing out that the Polytechnic has not Convocated its Students for the past 10 years.

Hon. Barr. Jerry Uzosike’s Committee also revealed that many Departments in the institution are in dire need of reaccreditation by the National Board for Technical Education (NBTE), and that past Administrations of the school hired staff in an anticipation of moving to the Permanent Staff. 

The findings gathered that the enabling Laws of the Abia State Polytechnic gives the management too much Powers, and that the total fees paid by an average student in the institution amounts to N 110,000.

Continuing, it hinted that most Union Leaders were sacked while the Committee was still on its assignment, pointing out that it was able to discover that one person occupied three important positions in the Institution (HOD, BURSER and DIRECTOR OF SPORTS).

The Committee therefore recommended as follows, That the downsizing of staff strength is not only recommended but inevitable, however that the disengaged staff should be paid all their salaries owed them

That Abia State Polytechnic ICT Contractor is not sincere, adding that the Board of Internal Revenue of the state should investigate in order to know the proper findings on the actual deduction.

That if the House agrees, the EFCC should be invited to investigate the activities of Lloydant Business Services.

That the Rector be advised to renovate the Rectors Lodge and leave the Hotel immediately.

That the Services of LLOYDANT be terminated with immediate effect.

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