Faculty and students at Wilberforce University are calling for an investigation of what they said is mismanagement by the board and president.

News Center 7's Jim Otte found that critics claim the university's future is at stake.

The group behind the allegations calls itself the Concerned Citizens of Greene County and they want an immediate investigation.

Wilbeforce is the nation's oldest private historically black university, dating back to 1856. However, it's recent history has been a troubled one, according to the faculty there.

Tanya Morah and others alleged mismanagement on campus such as poor hiring and spending practices by the board and president.

Morah was one of several representatives at a Columbus news conference announcing legal action against the school with student in attendance, they unveiled a request for the state attorney general to investigate.

The complaint will go to the state attorney general. Authorities will then decide if they want to get involved.

Late Tuesday afternoon, Wilbeforce University issued the following statement: "The Administration and the trustees care deeply about the viability of Wilberforce University and are working in the best interests of our students. As University president, I was aware from the beginning that the University faced significant financial challenges. Our financial performance during my presidency demonstrates recovery and sound fiscal management. This is going to be a long haul, but we are moving in the right direction. The University's financial documentation is in full compliance with all federal and state requirements and demonstrates sound fiscal responsibility during the first two years of my presidency. If the State should decide to take a look at what we have accomplished, we would naturally cooperate."