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Flamboyant Lifestyle Of University of Ibadan Deputy Bursar Revealed + All His Exotic Cars

First Bank Nigeria

The gaudy lifestyle of Michael Akinade Alatise, the Deputy Bursar of the nation’s premier university had set tongues wagging among the academic and non-academic staff of the University of Ibadan. This became an issue of concern as the University begins a search for a new bursar to handle the accounts of the school.
Some concerned members of staff whose spoke to us on conditions of anonymity in Ibadan, said they are ‘compelled to draw the attention of the University Community and the Governing Council in particular to one of the candidates vying for the exalted position of the University Bursar.’

Vice Chancellor of the University of Ibadan, Prof. Isaac Folorunso Adewole
Vice Chancellor of the University of Ibadan, Prof. Isaac Folorunso Adewole

According to them, the Deputy Bursar’s standard of living which is verifiable reeks of astounding wealth. They said he had been acquiring assets far in excess of his earning within a short period of his appointment as the Deputy Bursar in 2010. The campus sources said he had purchased the following exotic cars within the past three years shortly after he was appointed deputy Bursar in 2010.
The cars are, Mercedes MLS Jeep 2013 model at a cost of N8.5m, Toyota Camry (Muscle) 2010 Model at a cost of N2.7m, Toyota Camry (Big Daddy) costing N1.5.m, Sienna LXE at a cost of N1.7m
It was also gathered that he purchased a Toyota Highlander for his female friend at a cost 0f N3.5m.
In addition, the Deputy Bursar also purchased a landed property at a highbrow area in Ibadan at a cost of N18.3m
He has three (3) children at Babcock University each paying N850, 000.00 as school fees excluding feeding and other ancillary charges.
He completed his 3 years part-time Master’s Programme at the same University at an annual cost of N1.3m per annum
He had again registered for his PhD Programme in the same University and paid N2.5m fee.
For a man whose annual annual Gross Salary is N4, 451,470, this line of expenditure is questionable. Even adding all perquisite of office, his combined income in the year cannot be more than N6.5m from where he would pay tax, feed his numerous children and family including accommodating them.
“We learnt that he was in charge of PAN African University grant that runs into several millions of Naira. When he was redeployed, he had not rendered the statement account of the fund up till today.
“Recently, he had been boasting that Professor Adewole the outgoing Vice-Chancellor has no option than to make him the next Bursar having in mind that he has damaging facts on his financial transactions in the University
“We are quite aware that Professor Adewole is a man of impeccable character and integrity; and would do everything to protect his hard earned reputation. He cannot and would not be associated with fraudulent acts. We are therefore pleading that the VC, distances himself from this name dropper,” the campus sources said..

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