President Muhammadu Buhari has stated that the introduction of the Treasury Single Account, TSA, would help curb incidences of misappropriation of funds allocated to tertiary institutions.
The president, who assured of his determination to fight corruption headlong, made the assertion at the 27th convocation ceremony of the Federal University of Technology, Akure FUTA, Ondo State.
Buhari regretted the pains tertiary institutions are going through on account of the implementation of the TSA but he said in the long run it would be to the advantage of the institutions as it would address several problems.
Represented by the Executive Secretary of the National Universities Commission, NUC, Prof Julius Okogie, Buhari said that the TSA policy was introduced to ensure financial discipline and curb corruption in the country.
The TSA was “introduced for a good cause and the issues involved in its implementation as it affects tertiary institutions are being addressed.”
The President reiterated the ‘zero-tolerance for corruption’ by his administration, saying he was determined to lead by example.
“We shall obey our laws and shall be transparent, accountable, just, fair and demonstrate integrity in all our undertakings. The leadership of this university should therefore, continue to be prudent, transparent and accountable in the management of both human and materials resources.
“Government is determined to fight corruption at all levels including corruption in academics in our tertiary institutions. We cannot speak of effective and efficient funding of the education sector if our universities are mired in crises, confusion, fraud and lack of institutional vision.
“I must at this point call on universities to be at the vanguard of the fight against corruption and eroded ethics, which constitute a major component of our societal ills.
“We must all endeavour as citizens and members of the academic community to enthrone the spirit of hardwork, honesty and inspirational leadership which are the hallmark of any citadel of learning.”
The President said the need for the diversification of the economy is ripe now considering the dwindling fortune of oil in the international market and charged universities to join hands with Federal Government in the onerous task.
The Vice Chancellor of the university, Prof Adebiyi Daramola in his address said 4,435 students graduated with various degrees from the university with 28 of them having first class.

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