President Bola Tinubu has approved the exclusion of third-party research grant
funds of federal universities and research institutions from the Treasury Single
Account.

This is contained in a letter signed by the Acting Executive Secretary, National
Universities Commission, Chris Maiyaki, to Vice Chancellors.

Already, the Minister of Education, Prof. Tahir Mamman, has conveyed this
directive to the Minister of Finance, Wale Edun, mandating the exemption, which
grants universities and research institutions the autonomy to operate their
endowment fund accounts in commercial banks.

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