Be Prudent In Use Of Revenue, Accountant-General Charges Varsity Leaders

The Accountant General of the Federation, Ahmed Idris has charged the leadership of Nigerian Universities on prudent use of internally generated revenue, as government’s revenue shrinks.

The AGF who hosted the Association of Bursars of Nigerian Universities in Abuja on Friday, said that there was need for the Association to entrench the ideals of transparency, accountability and openness in the management of financial resources of the Universities.

“There is need for re-examination and reappraisal of other sources of income for the universities and their judicious application for the good of the system.

“The Government built the infrastructure, Government pays the overhead, Government pays the personnel cost,” he said.

Speaking further, Idris charged Nigerian Universities to be more innovative in developing revenue sources as additional source of funding so that they won’t have to look up to the government for revenue on all matters that require funding.

On the ongoing Government financial reforms initiatives, Idris noted that the determination of the Federal Government to entrench transparency, accountability and openness in the management of public finances informed the implementation of the ongoing financial management policies.

He explained that based on his interaction with some members of the university community, there is an obvious gap of misunderstanding regarding some of these reforms.

He said this knowledge gap has resulted in the animosity towards these reforms initiatives.

He tasked the Bursars, as managers of financial resources in Nigerian Universities, to undertake to enlighten and educate other employees of universities on the reform initiatives.

The Accountant General of the Federation commended the cordial relationship that has existed between the Treasury and the Association of Bursars of Nigerian Universities, adding that the Treasury and the Association have been interacting at different levels and on various issues, all geared towards bringing about the best in terms of management of finances of Nigerian universities.

In his remark, the Chairman of Association of Bursars of Nigerian Universities, Victor Imagbe said the essence of the visit was to appreciate the Accountant General of the Federation on the financial management reforms and the impact of the reforms on the system.