- Universities Must Publish Financial Reports or Face TETFund Sanctions – FG
- Alausa warned that any institution failing to publish its yearly financial reports would lose access to TETFund interventions
- Prof Tanko Ishaya describe the initiative as a bold and timely reform that aligns with global best practices in university governance
The Federal Government has directed all public universities, polytechnics, and colleges of education across Nigeria to publicly release their annual financial statements and academic performance reports, beginning in the first quarter of each year.
Eko Hot Blog reports that the directive is part of a new nationwide transparency initiative aimed at improving accountability, data-driven governance, and fiscal discipline in tertiary institutions.
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The Minister of Education, Dr Tunji Alausa, announced the policy in Abuja on Tuesday during the unveiling of the Federal Tertiary Institution Governance and Transparency Platform (FTIGTP), a digital platform designed to enhance transparency and institutional performance monitoring across Nigeria’s higher education sector.
Alausa warned that any institution failing to publish its yearly financial reports would lose access to Tertiary Education Trust Fund (TETFund) interventions.
“Financial reporting through this platform will form part of institutional performance evaluations by both local and international partners. Funding and interventions will increasingly be tied to transparency and accountability metrics,” the minister said.
He added that institutions must obtain a clearance certificate from the Director of Information Communication Technology (ICT) before they can access any ICT-related TETFund support.
Alausa said the initiative aligns with President Bola Tinubu’s commitment to good governance, accountability, and institutional reform across all public sectors.
The minister also assured that the Federal Government would do everything possible to prevent further strikes by the Academic Staff Union of Universities (ASUU), pledging that public universities would not be shut again due to labour disputes.
“The President has mandated us that he doesn’t want ASUU to go on strike. We are doing everything possible to ensure our students stay in school,” Alausa told State House correspondents.
He disclosed that ongoing negotiations with ASUU were progressing and that the government had secured fresh concessions to fast-track a peaceful resolution of the lingering issues.
Alausa further stated that the government had launched a comprehensive plan to overhaul the procurement process in the education sector and to ensure that all federal tertiary institutions are connected to high-speed broadband through the Nigerian Research and Education Network (NG-REN) by 2026.
“Our focus is on evidence-based governance. We are leveraging technology and transparency to improve efficiency and accessibility throughout Nigeria’s education system,” he said.
The Chairman of the Committee of Vice Chancellors of Nigerian Universities (CVCNU), Prof Tanko Ishaya, commended the Federal Government for the initiative, describing it as a bold and timely reform that aligns with global best practices in university governance.
Meanwhile, at a joint meeting in Abuja with the Bureau of Public Procurement (BPP), Alausa urged heads of tertiary institutions, bursars, procurement directors, and education agency leaders to adopt transparent procurement practices as part of the ongoing reform.
He emphasised that these measures form part of the Federal Government’s broader strategy to strengthen accountability, enhance efficiency, and promote digital transformation in Nigeria’s tertiary education system.
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