The management and staff of Moshood Abiola Polytechnic (MAPOLY), Abeokuta have the cause to smile as outstanding two months salaries owing the institution staff have been paid.
Similarly, the institution also paid whopping sum of N100m being the first tranche of N300m loan collected from the bank last year.
This is at the backdrop of the Academic Staff Union of Polytechnic (ASUP) mandating the institution management to effect the payment of staff salaries for the month of June and July, that almost degenerated into another internal crisis.
Acting Rector of MAPOLY, Dr. Adeoye Odedeji disclosed this when the National President, Nigerian Institute of Town Planners (NITP), Town Planner Olutoye Ayinde and other members from Ogun State chapter paid courtesy visit to the institution on Monday.
Dr. Odedeji at the event briefed newsmen on some of the achievements recorded since his assumption as acting rector of the institution as well as many other developmental projects to be embarked upon by the institution very soon.
Dr. Odedeji boldly emphasised that his administration within a week paid the outstanding two months salaries which has given him a kind of relief from the outcry by staff and the union too.
He said: “When I came in as acting rector, there were backlog of six months salaries not being paid, we were on the verge of settling these salaries before the advent of Coronavirus which caused great havoc to the school and global economy.
“But, by the grace of Almighty God and support from His Excellency, Governor Prince Dapo Abiodun, were have paid the outstanding salaries. Also, On August 16th, we paid for the month of June, while three days later, August 19th, that of July month was paid.
“We paid out close to N340m last week, N100m to the bank we collected N300m from, and our salary base is about N120m, N122m, so they are two months, that is over N242m.
“The August salary is to be paid when the month’s end, and that is sacrosanct. The magic behind this is that we have been doing a lot of financial engineering, we have blocked all the leakages.
“We are also grateful to Governor Dapo Abiodun for permitting us to have access to the money being generated because every month, we take our requests for approval, and he graciously approved it.
“The money we generated does not belong to MAPOLY, it is public fund, it supposed to go straight into the treasury of Ogun State, but the governor allowed us to have access to it after approval. That’s what we are doing.”
While responding on what he meant by blocking of leakages he said: “Leakages are those things that are not necessary, we don’t buy them, we cut our coats according to our clothes.”