The University Grants Commission (UGC) may dissolve the Boards of Trustees (BOTs) of private universities if allegations of financial irregularities are substantiated, and appoint administrators to oversee the institutions' operations, reports UNB.
Boards of Trustees (BOTs) of at least 20 to 30 private universities are facing serious allegations of money laundering, fund misappropriation and financial irregularities, UGC Member Professor Dr Mohammad Anwar Hossain told UNB in an interview.
"Where there are substantial allegations against the boards of private universities, we will consult with the government and appoint administrators if necessary to ensure proper governance. If more innovative or better ideas come from the government, we are open to that too—but whatever is done will follow legal procedures," he said.
Asked about the nature of the allegations, Dr Anwar Hossain said the primary accusations involve money laundering, embezzlement of university funds, and various other irregularities.
When asked how the UGC is gathering such information, he said, "Data is coming from multiple sources—ACC (Anti-Corruption Commission), our own investigations, media reports, and also directly from some universities."
The UGC has already formed separate committees to investigate the allegations against each of the universities in question.
"We've found serious irregularities in 20 to 30 universities. Committees have been formed to investigate them independently. Once the reports are ready, they will be sent to the Education Ministry for further action," he said.
He said an investigation report on Southern University has already been submitted, and the UGC has recommended appointing an administrator there. "We've sent the recommendation to the government. Once it gives a nod, an administrator will be appointed."
Asked when the administrator might be appointed at Southern University, he said, "The process is underway."
Regarding the composition of the investigation committees, Dr Anwar said, "Most of the conveners are from outside UGC. In some cases, members include university teachers and retired judges. But, for every committee, we have ensured that our designated officer who oversees the respective university is included."
According to UGC sources, the list of complaints against BOTs continues to grow as student numbers—and with it revenues—increase annually.
There is a severe lack of transparency in income and expenditure, said the sources.
An UGC official, preferring anonymity old UNB that that most of the Board of Trustees had been formed under political influence during the previous government's tenure and are now operating universities as profit-making businesses.
"Necessary action will be taken under the Private University Act, 2010, if the allegations are proven. We had initially wanted the education ministry to handle this matter, but the responsibility has been handed over to us," the official said.
"A full commission meeting chaired by the UGC chairman will decide on the action to be taken against the universities found guilty," he added.
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