The University of Ghana (UG) says it has dragged three financial institutions under receivership to court in an attempt to recover their locked-up funds.

The three institutions - NDK Financial Services, NTHC Financial Services, and Delta Capital - together hold a total of GH¢5 million of investment from the premier University.

Answering questions from Parliament's Accounts Committee (PAC) on the infractions captured in the Auditor General's Report, Acting Legal Counsel of the University, Dr Abdul Baasit Aziz Bamba, said they have resorted to legal actions in the hope of retrieving the money.