The Nigerian government has ordered the exclusion of third-party research grant funds of federal universities and research institutions from the Treasury Single Account (TSA).
The Minister of Education, Prof. Tahir Mamman, conveyed the President’s directive to the Coordinating Minister of Finance and National Economy, Wale Edun, mandating the exemption.
A letter signed by the Acting Executive Secretary, National Universities Commission (NUC), Chris Maiyaki, to Vice Chancellors, dated Sept. 6, 2024, and made available to newsmen in Abuja on Monday contained the directive.
Maiyaki said the directive also grant universities and research institutions the autonomy to operate their endowment fund accounts in commercial banks.
“The National Universities Commission received the directive from the Minister of Education, Ref. DE/HE/37/VII/324 and dated Sept. 4, 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 TSA.
“And to grant universities and research institutes autonomy in operating their endowment fund accounts in commercial banks.”