Mandate of the Bursary


The expectation of this Department is very high. The Bursary Department of any Tertiary Institution plays the vital role of coordination. It represents a centre point where all activities revolve. Therefore the core mandate of the bursary Department is to be in charge of all financial activities of the University and actually, there is no activity in the University that has no financial implication.

The core mandate is expectedly performed through the following ways: -

(a) Collection, keeping and disbursement of various funds that belong to the University. This is financial and treasury function.

(b) Preparation of Budget and Controlling such Budget. This is the function that relates to the expenditure allowance and Expenditure Limits of various Departments.

(c) Putting in place, adequate internal control system that safeguards the asset and liabilities of the Universities. This is done through the observance of the following financial legal frame work.

  • The Operating Accounting Manual
  • 2007 Public Movement Account
  • University Financial Regulation and other Government Financial Instruction.

(d) Management of University Records of financial transaction i.e. records of assets and liabilities.

(e) The Bursary Department ensures that the University Management complies strictly with government financial policies and regulations in the day to day financial administration of the University especially in relation to:

  • Due process
  • Authority limit of spending officers
  • Guides against misappropriation of funds
  • Financial Transactions e.g. e-payment procedure, approved rate of mobilization fees, statutory deductions, VAT, with holding Tax, Payee. etc).

(f) Responsibility Accounting. This is the preparation of the financial statements to show the ways and manners the various grants from the Federal Government and other funds generated internally are being accounted for. This is culminates in the preparation of yearly final accounts. This is being audited by the External auditors to show credibility and authenticity.