Update on the Bus Scam. A concerned great ife student speaks

Timeline Update on the Bus Scam

In an informal press briefing, Students’ Union President reveals his intention to purchase 4 buses with 3 million naira each summing up to 12 million naira from the backlog of Union funds for the union

A sum of 3 million naira was paid into the union account from students’ dues

A whooping (undisclosed sum) was withdrawn from the account

A bus surfaced and was called Great Ife Students’ Union bus

Students puzzle the purchase of the bus and condemn the expenditure not being worth 3 million naira

The President reveals that the transaction was not for 3 million naira but will have the amount undisclosed for accountability reasons. President tasks students to make their findings as to how much the bus is really worth

President gets the heat and discloses that the purchase was for 2.5 million naira. Presents receipt of the transaction

Secretary general says dealer told him that the bus was sold for 2.5 million naira

Financial Secretary tells PigeonPost news agency that the bus was purchased for 2.9 million naira

Students puzzle the contradictions and doubt the validity of the receipt, present an invoice for a real car deal.

Students visit the address of the car dealer’s office to see no car dealer located at the premise. Mixed reactions rent the air

Financial secretary says the purchase was for 2.5 million naira’ Discredits his statement with the news agency and implores the public to disregard it.

President reveals details of the transaction. The money was withdrawn from the Union account, credited into the Fin sec’s personal account and transferred to the dealer’s account in three installments: ₦100,000, ₦1,500,000, ₦900,000 consecutively. The Fin sec’s account had a balance of ₦4,950.38 after the second installment and ₦384,317.88 after the third installment.

_As da beat goes on………………_