Miracle Akubuo 

The Student Union Government of Obafemi Awolowo University (OAU) has issued an order to 11 commercial banks, directing them to cease the acceptance of fees payment from OAU students until the university reverses the arbitrary increase in the price of school fees.

The banks instructed to halt the acceptance of fees payment are Access Bank, Diamond Bank, Eco Bank PLC, FCMB, First Bank, Fidelity Bank, GTBank, Polaris Bank, Union Bank, Wema Bank, and Zenith Bank.

This decision was disclosed in a letter dated September 15, jointly signed by the chairman and secretary-general of the Student Union Government, Abbas Akinyemi Ojo and Akinbomi Opeyemi, respectively.

To recap, the OAU management announced an adjustment to the fees payable by students for the upcoming academic year on Wednesday. 

The significant disparity between the old and newly adjusted fees prompted the Student Union Government to suspend the payment of student fees at the University.

However, the union has issued a warning that if the banks fail to comply with their request, it may result in a confrontation between the Student leadership and the banks.

The executives in the statement said, “The letter expresses concern about the recent fee hike at OAU, which has generated negative reactions from the student community.”

Arguing further, “It highlights that the increase was not done in good faith and contradicts directives from the House of Representatives, the Presidency, and the Federal Ministry of Education to halt fee increases in federal universities.

“In response to the fee hike, the students’ congress passed a resolution recommending that financial institutions should not accept fee payments from OAU students until the university reverses the fee increase.”

Moreover, it added, “The Students’ Union believes that by halting fee payments through the banks, the university management will be encouraged to engage with the student body and promptly reverse the fee hike.”

“The Students’ Union expects cooperation from the banks and warns that failure to comply with their directive will lead to a confrontation between the students and the banks.”

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