Business

FG Deletes Research Grant Funds From TSA

Published

7 months ago

September 9, 2024

The National Universities Commission (NUC) recently announced a Shift in their policy. This is in respect to the financial management of federal universities and research institutions as the federal government ordered that third-party research grant funds for federal universities and research institutions be kept out of the Treasury Single Account.

According to a letter sent to Vice Chancellors on September 6, 2024, the minister of education, Prof. Tahir Mamman, conveyed the directive from the president to the coordinating minister of Finance and National Economy, Wale Edun, mandating new financial regulations, as reported by Channels Television.

This change will be aimed at increasing the financial independence of universities and research institutions, encouraging research and innovation in the country.

The letter, signed by Acting Executive Secretary Chris Maiyaki, explains that funds from research grants given by external sources will no longer be managed through the Treasury Single Account. This change, as stated, is meant to give federal universities and research institutes more control over their finances and make their financial processes more efficient.

“The National Universities Commission received the directive from the Honourable Minister of Education, Ref. DE/HE/37/VII/324 and dated 4th September 2024, forwarding the correspondence from the Principal Secretary to the President, State House, also vide PRES/87/MF/71/198/MBEP/15 and dated 23rd July 2024, on the above subject,” the letter reads.

The new policy aims to bolster the financial independence of universities and research institutions. Reports expand that by allowing these institutions to manage their endowment fund accounts in commercial banks, the government’s aim to facilitate increased research activities and innovations will be accomplished.

This shift is expected to provide universities with more control over their financial resources, potentially leading to more dynamic and responsive research environments.

This directive provides universities and research institutions with the authority to operate their endowment funds independently of the Treasury Single Account.

This move is designed to enhance operational efficiency and support the institutions’ efforts in research and development.

Further reports state that the policy change reflects a broader effort to strengthen the financial management capabilities of educational and research institutions across the country.

Business

BBNaija Star Nengi Speaks on Motherhood

Published

7 days ago

March 18, 2025

Samson Adeyanju

By Jesusemen Oratokhai

Former Big Brother Naija housemate Nengi Hampson has shared her first public message since welcoming her daughter, Moon.

In a heartfelt post on March 16, 2025, Nengi revealed that she gave birth on February 21, describing motherhood as the most fulfilling experience of her life.

“I was made to be a mum… nothing has ever felt more right,” she wrote, embracing her new journey with joy.

Business

FIRS Pledges Stronger Tax Policy for West Africa

Published

7 days ago

March 18, 2025

Samson Adeyanju

By Adenike Lawal

The Federal Inland Revenue Service has reaffirmed its commitment to strengthening tax policy development across West Africa.

Speaking at the West Africa Tax Administration Forum in Abuja, Executive Chairman Dr. Zacch Adedeji stressed the need for better domestic resource mobilization to drive economic growth in the region.

He highlighted the role of effective communication in tax administration, emphasizing that clear messaging is key to building public trust and ensuring compliance.

Dr. Adedeji urged tax professionals to exchange ideas, adopt best practices, and collaborate on improving regional tax systems.

He noted that Nigeria has played a leading role in advancing tax cooperation across West Africa and will continue to support capacity-building initiatives.

Business

CTV Nigeria Debuts on GOtv

Published

2 weeks ago

March 13, 2025

Samson Adeyanju

By Emmanuel Ogbodo

Catholic Television, Nigeria (CTV), has officially launched on the GOtv platform, expanding its reach to millions of viewers across the country.

According to a communication from MultiChoice, the channel went live today, March 13, 2025, at 10 a.m. (WAT) on GOtv channel 115.

It is available on all GOtv packages, from GOtv Lite to GOtv Supa Plus.

This milestone marks a significant step in bringing faith-based content to a wider audience, providing Catholic programming, religious teachings, and wholesome entertainment to subscribers.

With this launch, Catholic TV Nigeria strengthens its presence in the digital space, offering spiritual nourishment to viewers seeking faith-inspired content.