The Federal Government has issued a directive that third-party research grant funds of federal universities and research institutions should be excluded from the Treasury Single Account. An official letter from the National Universities Commission to Vice Chancellors conveyed this directive from the Minister of Education to the Coordinating Minister of Finance and National Economy. This directive also allows universities and research institutions to manage their endowment fund accounts in commercial banks, aiming to improve their financial autonomy and support research and innovation within the country. The letter from the NUC, signed by the Acting Executive Secretary, discusses the details of the directive and its implementation.
FG exempts varsities’ research grants from TSA
