Reports making waves at the moment have it that the Rector of the Ado-Ekiti Polytechnic, in Ekiti State, Dayo Oladebeye, has absconded after allegedly investing about N1bn in Bitcoin, a popular cryptocurrency.
It was gathered that the N1bn used in the investment was part of lecturers salaries.
Apparently irked by the Rector’s decision to use the N1bn to invest in Bitcoin rather than pay them their salaries, the aggrieved lecturers took to the streets baring different placards, chanting solidarity songs.
The lecturers reportedly began their strike action by closing down the gate of the school, protesting against the N1bn salary arrears owed by the rector.
The students of the institution have also expressed displeasure over the Rector’s action as the federal government is being called upon to intervene.