Three weeks after full implementation of the newly-introduced Treasury Single Account, TSA, in all transactions involving federal government institutions, Vice Chancellors of federal universities have raised the alarm over imminent collapse of federal owned tertiary institutions because of impediments arising from compliance with the new system.
In a letter dated October 5, 2015, and signed by both the Chairman, Committee of Vice Chancellors, Professor Adebiyi Daramola and the Secretary- General, Professor Michael O Faborode, and delivered to President Muhammadu Buhari through the Secretary to the Government of the Federation, Mr. David Lawal Babachir, they appealed to the President to exempt the university system from the TSA for e- collection of Government Receipts structure.
The Vice Chancellors argued that, although the SGF had met with a delegation from the Committee of Vice Chancellors during which he (SGF) directed the university system to comply with the new system, the effects of the compliance is taking a negative toll on normal activities in the campus.
“The Committee held an emergency meeting on October 5, 2015, to review the situation on our various campuses. Reports from federal universities across the country indicate that none has been able to transact any business on the TSA platform three weeks after compliance.
“What is more worrisome is the uncertainty of how long the withdrawal problem will last. Enquiries at the Office of the Accountant –General of the Federation and the Central Bank of Nigeria have also not been helpful as to how soon the fund withdrawal problem can be resolved.
“As a result of the challenge, many universities have had to postpone examinations, while those that are on vacation have had to defer resumption for the new academic session. Other activities such as students’ field trips, accreditation and convocation ceremonies have also been put on hold across the country”, part of the letter read.
The Committee also lamented other retrogressive consequences of the TSA regime which include the suspension of international collaborations with development agencies and foreign universities and, incidentally, the grounding of the operations of some of the African Centres of Excellence resulting in the students being stranded.
The Vice Chancellors expressed support for government’s resolve to ensure compliance with TSA, but regretted the problems associated with its implementation in the universities and, therefore, called on President Buhari to grant exemption to those accounts they described as critical to the smooth running and survival of the university system.
