THE Senate panel on Education has issued a two-week ultimatum to the management of federal universities to explain the financial activities and budgetary implementation of their institutions in the last one year.

The panel led by Senator Uche Chukwumerije, explained that the exercise would assist in addressing the grey areas in their presentation ahead of the budgetary allocation to them.

Speaking during its oversight function to the University of Ibadan (UI), Chukwumerije restated the panel’s commitment to the growth of education, especially tertiary education in Nigeria, saying this informed their visit to the institution.

However, the panel picked holes in the financial presentation of the premier university and directed the management to make clarification on the financial status to enable them defend the budgetary allocation for next year.

“We need clarification on the financial activities and welfare of the school. The clarification, which must be forwarded to us within the period of two weeks touching on funding, will give us insight into areas where the university needs help,” he said.