Tinubu Excludes Research Grants Of Federal Universities, Research Institutes From TSA
By Alice Etuka, Abuja
President Bola Tinubu has directed the Minister of Finance and Coordinating Minister of Economy to exclude third- party research grant funds of Federal Universities and Research Institutes from the Treasury Single (TSA).
Acting Executive Secretary of the National Universities Commission (NUC), Chris Maiyaki disclosed this in a communique addressed to Vice Chancellors of Federal Universities on Friday, September 6, 2024.
It reads:
The National Universities Commission (NUC) is in receipt of the directive from the Honourable Minister of Education, Ref. DE/HE/37/VII/324 and dated 4th September 2024, forwarding the correspondence from the Principal Secretary to the President, State House, also vide PRES/87/MF/71/198/MBEP/15 and dated 23rd July 2024, on the above subject.
“The letter communicates Mr. President’s directive to the Honourable Minister of Finance and Coordinating Minister of the Economy to exclude third-party research grant funds of Federal Universities and Research Institutes from the Treasury Single Account (TSA), and to grant Universities and Research Institutes autonomy in operating their endowment fund accounts in Commercial banks. Please see attached.
“Consequently, I am to convey Mr. President’s approval on the above subject to Vice- Chancellors of Federal Universities for further necessary action.
“I am to add that joining instructions which appertain to operational guidelines will be issued under separate cover.
“Please accept the renewed assurances of my highest considerations, as always”.
