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Bursary

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Bursary

bursary organogram

The Bursary Organogram

Budget & Expenditure

The university through the Bursary runs a budgetary expenditure system in its finance. Expenditures are made from the established annual budget. The bursary oversees the planning and preparation of the annual budget. Expenses are not made outside the budget except with appropriate approval of the BOT.  

Final Accounts

The unit ensures that Bursary delivers the University’s financial stewardship to its stakeholders. The legal and regulatory framework for the financial reporting of the University is governed by the following: CAMA 1990, International Financial Reporting Standard (IFRS), Tax Acts, Pension Reforms Act 2014, Procurement act 2007, Financial Reporting Council of Nigeria code of corporate Governance 2018 and other directives on financial matters by the government at all levels.

Store

The store section of the Bursary oversees requisition of store items to ensure that there is no stock out, receipt of purchased goods from suppliers, warehousing of purchased goods and issuance of goods to end users i.e. requesting department. The store function is important for the university.

Business Venture

The University undertakes various business ventures to generate revenues from non-student and teaching activities. Each business venture must be commercially viable on a standalone basis after charging an amount for the use of the university’s resources. Sales of laboratory coat and bottled water are the few the University currently have.