FG Releases N2.3bn Intervention Fund To Universities

(AFRICAN EXAMINER) – The Federal Government has disbursed N2.31 billion to federal universities as part of efforts to clear outstanding arrears owed to academic and non-academic staff.

This was announced in a statement on Thursday by the Personal Assistant on Special Duties to the President, Kamorudeen Yusuf. The Minister of Education, Dr Tunji Alausa, stated that the funds were processed through the Office of the Accountant-General of the Federation and that universities would start receiving the payments immediately.

He disclosed that President Bola Ahmed Tinubu is committed to transparent, long-term reforms that will guarantee staff welfare and financial sustainability.

He also pointed out that the administration of President Tinubu is almost completing the release of third-party deductions and pension remittances to the Nigerian University Pension Management.

The government further disclosed that the Earned Academic Allowances (EAA) will be fully integrated into university salaries by 2026 to make sure of quick payments, while funding for the Needs Assessment of Nigerian Universities project. 

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