In a significant policy shift, the Nigerian Federal Government has exempted third-party research grant funds at federal universities and research institutions from the Treasury Single Account (TSA). The directive, issued on September 6, 2024, allows these institutions to manage research funds independently, promoting financial autonomy and enhancing access to resources for research and development.

The new policy, communicated in a letter from the National Universities Commission (NUC) and signed by Acting Executive Secretary Chris Maiyaki, also permits universities to handle their endowment funds through commercial banks, offering further financial flexibility. 

This move, directed by President Bola Tinubu and conveyed by Education Minister Prof. Tahir Mamman to Finance Minister Wale Edun, aims to boost research capabilities and foster innovation by granting institutions greater control over their financial resources.

Maiyaki emphasized that the exemption will streamline financial operations, encouraging more effective use of research grants and supporting Nigeria's efforts to strengthen its research sector.

 

Article by Jed Mwangi

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https://leadership.ng/federal-govt-removes-varsities-research-grants-from-tsa/