FG excludes varsities, research institutes from TSA
By Uji A Iliyasu
Abuja
The Federal Government has directed the exclusion of third-party research grant funds of federal universities and research institutes from the Treasury Single Account (TSA).
This directive was contained in a letter signed by the Acting Executive Secretary, National Universities Commission (NUC), Chris Maiyaki, to Vice Chancellors, which dated September 6, 2024, and made available to newsmen in Abuja on Monday.
The Minister of Education, Professor Tahir Mamman, has conveyed the President’s directive to the Coordinating Minister of Finance and National Economy, Wale Edun, mandating the exemption.
Maiyaki said the directive also grant universities and research institutes the autonomy to operate their endowment fund accounts in commercial banks.
He said the move was expected to enhance the financial autonomy of universities and research institutions, in order to promote research and innovation in the economy.
The National Universities Commission received the directive from the Honourable Minister of Education, Ref. DE/HE/37/VII/324 and dated Sept. 4, 2024.
“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.
“I am to add that joining instructions which pertain to operational guidelines will be issued under separate cover.
Please aceept the renewed assurances of my highest considerations, as always,” mamman said.