Idris Katib
The Bursar of Crescent University, Abeokuta, Alhaji Jimoh Bankole has charged university administrators on the need to think out of the box to be able to secure the future of their universities.
He made this charge at the maiden annual lecture of the Osun State University, Osogbo themed “Securing the Future: Financial Resilience and Risk Management in Nigerian University System”.
Explaining that “resilience is the ability to absorb shocks and to continue in existence”, Bankole said university administrators should be creative to ensure their continued relevance and existence.
He said gone were the days where university system operated in an environment where financial support was in opulence, as support came from far and near in form of money, equipment and buildings while all applications for grants were received with almost instant approval.
He said universities of the future should possess resilience which he described as coping with shortfalls and managing surpluses wisely and added that “in view of the cat that finance is key to the survival of any system, how we manage shortfalls and surplurses will determine our resilience level and how prepared we are to swi safely into the future”.
Bankole recommended the following survival strategies in managing universities : cut-cutting techniques, sharing of facilities, charging commeasurate school fees, scholarships, showcasing institutions’ achievements, extension of TETFUNDS to non-teaching staff and extensive use of technology.
Earlier, the Bursar of Osun State University, Osogbo, Mr Bolarinwa Feruke, in his welcome address, said that “as a financial backbone of our university, the bursary department plays a pivotal function in safeguarding our financial stability and ensuring the efficient allocation and utilization of our very limited resources”.
He stressed that securing the future, financial resilience and risk management are essential pillars for the growth and development of the Nigerian university system.