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FG to allow federal varsities operate endowment fund outside TSA

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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

Nigerians face setback as Canada plans to slash student and work permits

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Canada is set to reduce the number of international students and work permits issued in 2025, a move expected to impact many Nigerians.

The country’s Immigration Minister, Marc Miller, announced the changes on Wednesday, September 18, citing the need to manage high immigration levels, straining Canada’s housing, job market, and social services.

“It is a privilege to come to Canada. It is not a right,” Miller stated during the press conference.

He further explained that Ottawa plans to issue 437,000 study permits next year, a drop from the 485,000 permits issued in 2024 and the over 500,000 granted in 2023.

This policy shift is part of Prime Minister Justin Trudeau’s government’s broader strategy to reduce the number of temporary residents.

Canada’s population surged past 41 million earlier this year, and concerns over housing shortages and job availability have sparked a reevaluation of immigration policies.

Among the changes, restrictions on work permits for spouses of international students and foreign workers will be introduced, and enhanced checks on travel visas will be implemented to curb fraudulent asylum claims.

Ottawa has already pledged to reduce the percentage of temporary residents in Canada from 6.8 per cent, recorded in April, to just five per cent.

This will likely affect many Nigerian students and workers seeking opportunities in Canada.

The new regulations are expected to pose significant challenges for those hoping to study or work in the country, especially Nigerians, who form a substantial portion of Canada’s international student community.

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Education

JAMB waives post-UTME for PWDs, plans to admit 825,000 by 2029

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The Joint Admissions and Matriculation Board (JAMB) plans to admit 825,000 people with disability (PWD) by 2029.

The board is hosting education stakeholders and foreign nationals at the Africa Regional Conference on Equal Opportunity of Access to Higher Education (ARCEAHED) on September 17 and 18.

Yusuf Sununu, the minister of state for education, spoke at the conference in Maitama, Abuja on Tuesday.

He said JAMB, at the 67th National Council on Education meeting in December 2023, obtained approval to waive post-UTME for PWDs.

“This initiative, together with the ambitious target to enrol 825,000 students with disabilities cumulatively over the next five years, demonstrates our unwavering commitment to realizing equal access to education,” he said.

“All tertiary institutions in Nigeria are to offer admissions to all candidates with disabilities who possess minimum admissible scores into the programmes of their choice after writing UTME.”

At ARCEAHED, stakeholders discussed emerging issues on access to higher education and economic empowerment for PWDs.

Sununu said it is the responsibility of governments, academic institutions, the private sector, and civil society to ensure that PWDs are not left behind.

He said stakeholder interventions must focus on three areas, including the need to create inclusive education infrastructure, empower PWDs through economic inclusion, and embark on policy advocacy through the implementation of laws protecting PWD rights.

“We have to create opportunities between institutions of education, industries, and governments to develop ways that would take persons with disabilities from education to employment,” the minister said.

“The enactment and implementation of laws to protect the rights of persons with disabilities ensuring they have equal access to education, health, and employment facilities are very essential.

“Tertiary institutions should not only be admitting students with disabilities.

“They should be taking absolute care about accessibility in their campuses through the addition of necessary ramps, elevators, assistive technologies, and other accommodations that would make learning possible and comfortable for all.

“Teaching aids such as braille, interpreters in sign language, and digital materials prepared for various skills should be provided.”

The regional conference will host participants from African countries including Ethiopia, Malawi, and Egypt.

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Education

Oyo releases 2024 screening results for School of Science

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The Oyo State Government has announced the release of the 2024 screening and placement results for primary six pupils transitioning into Junior Secondary Schools and Schools of Science.

In a statement signed by the state Commissioner for Education, Science, and Technology, Salihu Adelabu, in Ibadan on Tuesday, it was stated: “Head Teachers/Principals should visit their respective Local Inspector of Education offices to collect the screening/placement results.”

The statement further noted that pupils transitioning to the Schools of Science are expected to visit their respective science schools to obtain results.

The Commissioner added that the results were released last week.

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Bodex F. Hungbo, SPMIIM is a multiple award-winning Nigerian Digital Media Practitioner, Digital Strategist, PR consultant, Brand and Event Expert, Tv Presenter, Tier-A Blogger/Influencer, and a top cobbler in Nigeria.

She has widespread experiences across different professions and skills, which includes experiences in; Marketing, Media, Broadcasting, Brand and Event Management, Administration and Management with prior stints at MTN, NAPIMS-NNPC, GLOBAL FLEET OIL AND GAS, LTV, Silverbird and a host of others

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