Federal Government has directed the exclusion of third-party research grant funds from the Treasury Single Account for federal universities and research institutions.

This directive, communicated by the National Universities Commission (NUC) in a letter dated September 6, 2024, allows these institutions to manage their research funds independently.

Education Minister Prof. Tahir Mamman issued the directive on behalf of the President, which was forwarded to Finance Minister Wale Edun. The new policy also grants universities and research institutions the autonomy to operate their endowment funds in commercial banks, aiming to enhance their financial independence and foster research and innovation.

The NUC’s letter, signed by Acting Executive Secretary Chris Maiyaki, confirms the President’s order and includes the relevant documentation. This change is expected to support and streamline research funding processes in Nigerian higher education institutions.