Regent University College of Science and Technology (RUCST) has debunked reports suggesting that the institution is being auctioned to pay off debt.
It is asking it entrants, students, staff, and other stakeholders to stay calm as the current matter does not interfere in any way with the academic functioning of the University.
According to reports carried by several online portals in the last 24 hours, the tertiary institution is to be auctioned to settle payments owed to Obokom Civil Engineering Works Limited with respect to one of the buildings of the Institution they constructed.
With the news raising concern amongst students, parents, staff, and other stakeholders, Regent University has through a statement assured that there is no cause for alarm.
Though the school admits there is a debt issue with the Obokom Civil Engineering Works Limited, it said discussions are ongoing with the debtors and confident of reaching an amicable settlement.
“Certainly, we have some financial obligations towards Obokom Civil Engineering Works Limited in respect of one of the buildings of the Institution. The company and its owner, Nana Obokomata IX has secured a court order against the property, but we are still in discussion with the company and its owner and we expect an amicable settlement soon”, the Regent University statement signed by its Acting Registrar Benjamin Zogbator said on Thursday.
It continued, “Secondly, the report that RUCST has been auctioned is incorrect. We wish to assure all students, staff, and other stakeholders that arrangements are in place to successfully end the semester by June 30th, 2020. The current matter does not interfere in any way with the academic functioning of the University.
“Please, stay calm, and rest assured that everything will be resolved shortly”.
Full statement from Regent University College below: