Education
FG to allow federal varsities operate endowment fund outside TSA
The federal government has given a directive to the ministry of finance allowing federal universities to operate an endowment fund independent of the Treasury Single Account (TSA).
The TSA is a public accounting system where the earnings of all revenue-generating government agencies, including publicly funded tertiary institutions, are paid into a single account or a set of linked government accounts.
In Nigeria, this financial policy was proposed in 2012 under the Goodluck Jonathan administration.
Its implementation began in September 2015 under former President Muhammadu Buhari, ensuring that all payments are made through a consolidated revenue account (CRA) at the central bank.
The initiative was aimed at increasing accountability and checking cases of multiple accounts run by government ministries, departments, and agencies.
Public tertiary institutions in Nigeria have been grappling with a sustainability crisis for years due to inadequate federal funding.
Calls to rejig and diversify the funding framework for federal universities have intensified in recent years, with more institutions looking to operate endowment funds.
Endowment funds are a pool of donated money that is invested to generate income for an institution’s long-term financial stability.
Typically, the principal amount is preserved and not spent while a portion of the investment returns is used to support the university’s operations, critical infrastructure, scholarships, research, faculty salaries, or campus development.
However, Nigeria’s TSA policy and a general lack of financial autonomy have long held public universities back from pooling funds to invest in profitable ventures.
The National Universities Commission (NUC), in a letter addressed to vice-chancellors and seen by TheCable, says it has now received a presidential directive that looks to grant federal universities the approval to operate endowment funds domiciled with commercial banks.
Chris Maiyaki, acting executive secretary of the NUC, said the approval was contained in a letter from the ministry of education.
He said the letter with the reference “DE/HE/37/VII/324” and dated September 4 forwarded correspondence from the principal secretary to the president referenced “PRES/87/MF/71/198/MBEP/15” and dated July 23.
Maiyaki said the directive, the implementation modalities of which will be communicated, effectively ordered the finance ministry to exclude the third-party research grants of federal universities from the TSA.
He said it also grants universities and research institutes autonomy in operating their endowment fund accounts in commercial banks.
“I am to convey Mr. President’s approval on the above subject to vice-chancellors of federal universities for further necessary action. Joining instructions which pertain to operational guidelines will be issued under separate cover,” the NUC executive secretary said.
Education
Tinubu approves leadership swap at FUOYE, Lokoja university
President Bola Tinubu has approved the immediate swap of the pro-chancellors and chairmen of the governing councils for the Federal University Oye-Ekiti (FUOYE), and Federal University, Lokoja.
In the reshuffling, Victor Ndoma-Egba (SAN), who currently serves as the pro-chancellor of Federal University Lokoja, will take over at FUOYE.
A statement on Wednesday by Bayo Onanuga, special adviser to the president on information and strategy, said Kayode Ojo, who previously held a similar position at FUOYE, will now assume the role at Lokoja.
“This strategic change is part of President Tinubu’s initiative to foster diversity and national cohesion in the management of the country’s universities,” the statement added.
Earlier, the president dissolved the governing board of the Nnamdi Azikiwe University (UNIZIK) in Awka, Anambra state, over the appointment of an “unqualified VC”.
Tinubu also approved the removal of Bernard Odoh, the new vice chancellor, and Rosemary Ifoema Nwokike, the registrar.
Education
Tinubu dissolves UNIZIK governing council over appointment of ‘unqualified VC’
President Bola Tinubu has approved the dissolution of the governing council of the Nnamdi Azikiwe University (UNIZIK) in Awka, Anambra state.
A statement by Bayo Onanuga, special adviser to the president on information and strategy, said Tinubu also approved the removal of Bernard Odoh, the new vice chancellor, and Rosemary Ifoema Nwokike, the registrar.
The council, led by Greg Ozumba Mbadiwe, included five other members: Hafiz Oladejo, Augustine Onyedebelu, Amioleran Osahon, and Funsho Oyeneyin.
“The sacking of the governing council and officials followed reports that the council illegally appointed an unqualified vice-chancellor without following due process,” the statement reads.
“After the controversial appointment, the Federal Government stepped in to address tensions between the university’s Senate and the governing council of the 23-year-old institution.
“The government expressed concern over the council’s apparent disregard for the university’s governing laws in its selection process.”
In another development, Tinubu also approved the removal of Ohieku Muhammed Salami as pro-chancellor and chair of the governing council of the Federal University of Health Sciences in Otukpo, Benue state.
“This decision followed Salami’s illegal actions, including suspending the Vice-Chancellor without following proper procedures,” the statement adds.
“Despite a call from the Federal Ministry of Education to revoke the suspension, Salami refused to comply.
“Instead, he allegedly resorted to abusive and threatening behaviour toward the Ministry’s Directors, including the Permanent Secretary.”
He said the primary responsibility of university councils is to ensure the smooth running of university activities in line with the laws that establish them.
The president warned university councils not to create distractions as his government works to improve the country’s education system.
Education
Canada now permits international students to work 24 hours
Canada has increased the permissible work hours for eligible international students during academic terms from 20 to 24 hours per week.
This adjustment aims to provide greater opportunities for students to gain work experience while maintaining their focus on academics.
Marc Miller, Canada’s Immigration, Refugees, and Citizenship Minister, stressed the intent behind this policy change, saying, “This change will give students more flexibility to manage their time and gain practical experience.”
The decision builds on remarks Miller made in October 2022 when he emphasized the importance of work experience for international students.
At the time, he stated: “With the economy growing at a faster rate than employers can hire new workers, Canada needs to look at every option so that we have the skills and workforce needed to fuel our growth.
“Immigration will be crucial to addressing our labour shortage. By allowing international students to work more while they study, we can help ease pressing needs in many sectors across the country, while providing more opportunities for international students to gain valuable Canadian work experience and continue contributing to our short-term recovery and long-term prosperity.”
Key Changes to the International Student Program
Full-Time Work During Academic Breaks
International students can now work full-time during designated academic breaks, such as summer and winter holidays. These periods allow students to increase their earnings without interfering with class schedules, bolstering their financial stability while continuing their education.
The updated regulations permit students to work up to 24 hours per week during academic terms. This increase offers greater employment opportunities while ensuring students can maintain a sustainable study schedule.
Enhanced Reporting by Institutions
Designated Educational Institutions (DLIs) are now required to submit reports twice yearly to Immigration, Refugees, and Citizenship Canada (IRCC). These reports will confirm students’ enrollment status and academic progress, ensuring compliance with study permit requirements and upholding the integrity of the International Student Program.
Approval for Institution Transfers
Under the new rules, international students must obtain approval before transferring to a different DLI. This requirement ensures adherence to permit conditions and maintains academic standards across Canada’s institutions.
Special Provisions for Quebec Students
In Quebec, eligible international students can work off-campus without a separate work permit, provided they meet specific criteria. Students must be enrolled full-time in post-secondary, vocational, or professional training programs, or vocational training at the secondary level. These courses must be at least six months long and lead to a recognized degree, diploma, or certificate.
By introducing these measures, Canada aims to enhance opportunities for international students while addressing labour shortages in key sectors, ensuring a balance between work experience and academic success.
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