The council Chairman, Prof. Moshood Tijani, gave the order in a statement after an emergency meeting on Thursday.
The statement said the leave order followed the inability of the management to effect smooth running of the institution in the last couple of months with the attendant strike of the academic staff .
“The Governing Council hereby, at its meeting today, Thursday, Aug. 13, 2018 decides that the entire management should go on their accumulated four-year annual leave with immediate effect,” it said.
The statement made available to the News Agency of Nigeria (NAN) in Ibadan said an acting management had been instituted to run the affairs of the institution within the leave period.
It said further that details concerning the development would be made available to the public soon and enjoined staff and students of the institution to resume on Monday.
An acting management has been put in place to run the affairs of the institution within the intervention period.
“All lecturers are hereby enjoined to go back to work on Monday, September 17, 2018, while the students should go back to their classrooms on the same day,’’ the statement said.
The council assured all members of staff and students that their interests were of utmost importance to it.
The crisis rocking the institution, which bordered on workers’ welfare and non-payment of salary arrears, had resulted in prolonged strike.