The Vice Chancellor (VC), Clifford University, Professor Chimezie Omeonu, has reacted to allegations that the institution is to be taken over by a bank over debt.

ALL FACTS NEWSPAPER had got a report that an undisclosed bank was poised to take over the private varsity in Abia State, owned by the Adventist Church over unpaid debts running into billions.

ALL FACTS NEWSPAPER gathered that the varsity is suffering leadership crisis and attempts to bail the varsity failed.

A source claims that a Yoruba philanthropist who is presently sponsoring over 100 undergraduates in the university challenged the members of the church in the East to raise funds and he will match it.

According to the source, ‘the philanthropist offered that if the institution raises N600m , he will add N600m. If they raise N1B, he will add N1B. Unfortunately, two years after the offer the institution is yet to raise any amount and the philanthropist has rescinded his offer as the owners of the school are not serious’.

The said bank has allegedly written to the National Universities Commission (NUC), to close down the school. Also, the property and site of the school is allegedly up for sale.

Speaking to ALL FACTS NEWSPPAER correspondent regarding the allegations of owing and take over, Prof. Omeonu said there is nothing like that.

On if the school is owing any financial institution, he said even if the school is owing a bank, it does not mean that the bank will take over the school.

When ALL FACTS NEWSPAPER reporter made attempt to ask more questions, the VC directed the reporter to the Church for more information.

At the moment, it is not categorically clear if Clifford University is indeed owing a bank or if NUC is going to seal the institution.

More investigation on going.