Vice Chancellor of the Osun State University, UNIOSUN, Prof. Labode Popoola, said on Saturday that the institution would collect the over N2bn debt owed by the students.

He declared that it was of no significance whether or not the students had collected the money they invested in the Mavrodi Mondial Moneybox, MMM.


“Some of them (students) used their school fees to invest in MMM,” Punch quoted him as saying.

“Whether MMM comes back or not, it is their headache. I have told them that we are not going to open the portal.

“If I see that a critical mass of the students pay, then we will decide to open the portal just for about 48 hours. But they must pay first.

“This is how we accumulated a debt profile of over N2bn, we cannot continue this way. They just have to pay the money”, he stated.


MMM paticipants have not been able to get their money back 48 hours after the scheme returned.

UNIOSUN VC, who addressed a press conference a few days ago in Osogbo, said the situation of the unpaid school fees had become unbearable.

He lamented that majority of the returning students had not paid their school fees seven weeks after resumption for the current academic session.

Professor Popoola threatened that the university would publish the names of defaulters in the newspapers if they refused to pay their outstanding school fees.

He said UNIOSUN management was making frantic efforts to reach parents and guardians of the students to establish the reason for the non-payment of school fees by their wards.

Popoola disclosed that some of the students frustrate efforts to reach their parents or sponsor and urged parents to always find out the studentship status in UNIOSUN.

However, as part of measures to ensure payment of outstanding fees, the vice chancellor declared that all students, who fail to register, will no longer be allowed into the halls for lectures or write examination.