Nigerian universities are a den of secrecy and financial lawlessness, according to a new report. Nigerian home design ideas
According to a leading transparency survey report, financial secrecy and impunity abound in Nigerian colleges.
This is according to data from the Athena Centre for Policy and Leadership Transparency Survey Report on Nigerian Universities, which was issued on Wednesday, March 5.
The audit revealed worrying levels of financial impunity in Nigerian institutions, which it claimed stifles funding, jeopardizes research excellence, and weakens institutional integrity.
The Athena Centre conducted a comprehensive survey of 64 Nigerian universities, including 30 federal, 18 state, and 16 private.
According to the research, none of the universities studied released their budgets, audited accounts, or visiting panel data on their websites.
According to the report, none of Nigeria’s institutions have revealed a breakdown of internally generated revenue (IGR) or how these monies were utilized.
In addition, the poll found that university officials ignored or flatly denied repeated requests for financial information under the Freedom of Information Act, in stark contrast to nine other African colleges.
The University of Cape Town (South Africa), the University of Nairobi (Kenya), the University of Ghana, and the University of Cambridge all make their financial reports publicly available online, which builds trust and attracts major external investment.
Former Nigerian Minister of Aviation and Aerospace Development, who also served as the Centre’s Vice Chancellor, Osita Chidoka, responded, saying, “This culture of secrecy is driving away sponsors, impeding global alliances, and starving our universities of critical financing.
“Universities should be role models of openness, accountability, and innovation, not fortresses of secrecy,” the politician said.
As a response, the Center advocated creating a comprehensive legislative and institutional framework to ensure financial transparency, governance reforms, and performance accountability in all Nigerian universities.
The Centre stated that Nigerian universities should make annual audited financial reports, including complete disclosure of internally generated revenue (IGR) and expenditures.
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