The Federal Government has directed that third-party research grant funds for federal universities and research institutions be excluded from the Treasury Single Account (TSA). In a recent letter from the National Universities Commission (NUC) to Vice Chancellors, dated September 6, 2024, Education Minister Prof. Tahir Mamman communicated this directive from the President.
Thank you for reading this post, don't forget to subscribe!The new policy also allows universities and research institutions to manage their endowment fund accounts in commercial banks, aiming to enhance their financial autonomy and foster research and innovation. The NUC’s Acting Executive Secretary, Chris Maiyaki, confirmed that this decision was officially conveyed in a letter forwarded from the State House and addressed to the Minister of Finance and Coordinating Minister of the Economy, Wale Edun.
