AGF seeks transparency in the management of universities finances

The Accountant General of the Federation (AGF), Ahmed Idris has called on the leadership of Nigerian Universities to entrench the ideals of transparency, accountability and openness in the management of financial resources of the Universities.

Mr Idris, who handed down the advice when the Association of Bursars of Nigerian Universities called on him in Abuja, noted that judicious management of finances has become imperative, particularly at present when revenue inflows are becoming a challenge.

He also charged Nigerian Universities to be more innovative, more up and doing with regards to internally generated revenue as an additional source of funding so that they won’t have to look up to the Government for revenue on all matters that require funding.

“The Government built the infrastructure, Government pays the overhead, Government pays the personnel cost. There is a need for reexamination and reappraisal of other sources of income for the universities and their judicious application for the good of the system’, he advised.

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 urged the universities to key fully into the vision of the government.

He explained that based on his interaction with some members of the university community, there is an obvious gap of knowledge regarding some of the reforms and this knowledge gap has resulted in animosity towards these reforms initiatives.

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

Speaking earlier, the Chairman of the Association of Bursars of Nigerian Universities, Dr 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.