The Bursar, Lekan Lawal, wishes to draw the attention of members of staff, particularly the Deans, Heads of Department and Heads of Unit, to the Federal Government of Nigeria’s directive that no bank account of any MDA (including the University of Lagos) should be maintained outside of the TSA, domiciled with the Central Bank of Nigeria. This is in furtherance to a circular dated January 18, 2016 on the subject matter.
Non-compliance by any Faculty/Department/Unit is a serious offence under the financial regulations of the Federal Government. Any individual who flouts this rule shall be PERSONALLY held liable by the Government.
This directive covers all accounts opened by Units, Departments, Faculties and Hall Management Committees.