The Athena Centre for Policy and Leadership has decried the lack of financial openness in Nigerian universities, stressing that it is limiting funding, harming research quality, and damaging the credibility of the institutions.
At the launch of its Transparency Survey Report in Abuja on Wednesday, the centre described the financial secrecy in universities as ‘a serious issue and a national embarrassment’.
The survey, which examined 64 Nigerian universities, including 30 federal, 18 states, and 16 private institutions across all six geopolitical zones, revealed widespread financial secrecy.
According to the findings, none of the universities surveyed published their budgets, audited financial accounts, or visitation panel reports on their websites.
Additionally, no institution provided a breakdown of its internally generated revenue (IGR) or details on how the funds were spent.
In a statement by its Media and Communication Officer, Aliyu Jalal, the findings were presented at the official unveiling of the Athena Dr Arthur Nwankwo Institute for Education and Intellectual Freedom and the Athena Prof. Olikoye Ransome-Kuti Institute for Health and Social Equity.
The Chancellor of the Athena Centre for Policy and Leadership, Chief Osita Chidoka, emphasised the centre’s commitment to action.
‘We honour the legacies of Dr Arthur Nwankwo and Prof. Olikoye Ransome-Kuti not just with words, but with meaningful action.
Their names will inspire these new institutes as we strive to connect research with governance,’ he said.
The hybrid event was attended by prominent dignitaries, including Dr Angus Ikpe, representing the Minister of Health and Social Welfare, and Dr Ejeb A.U, representing the Minister of State for Education and former Secretary to the Government of the Federation Babachir Lawal.
Also in attendance were former Minister of Police Affairs Adamu Waziri, Senator Dino Melaye, former Minister of Youth and Sports Bolaji Abdullahi, Alhaji Kashim Imam, Chief Emeka Obianozie, Hon. Clem Aguiyi, Ibrahim D. Waziri, Cassandra Carraway of the US Embassy, and Dr Kins Ekebuike.
The report also noted that multiple requests for financial information under the Freedom of Information Act were either ignored or denied outright by university authorities. In stark contrast, the report found that all 9 African and global benchmark universities, including the University of Cape Town (South Africa), the University of Nairobi (Kenya), the University of Ghana, and the University of Cambridge, made their financial reports publicly available online, fostering trust and attracting significant external funding.
Global research consistently shows that transparent universities attract more research grants, partnerships, and international student enrollment.
The Chancellor said: ‘This culture of secrecy is driving away donors, blocking global partnerships, and starving our universities of much-needed funding.
‘Universities should be role models of openness, accountability, and innovation, not fortresses of secrecy.’ Chief Chidoka called for a comprehensive legal and institutional framework to ensure transparency, accountability, and global competitiveness in Nigerian universities. He emphasized the urgent need for governance reforms across federal, state, and private universities.
‘We must embed financial transparency and performance accountability in our university system to restore credibility and attract meaningful investment,’ he said.
He outlined key measures proposed by the centre, including mandatory annual audited financial disclosures to ensure institutions provide clear and accurate reports on their finances.
Additionally, he stressed the importance of proactive compliance with the Freedom of Information Act. ‘Universities must not operate in secrecy. They have a duty to make their financial and governance data easily accessible to the public,’ Chidoka added.
He stated that a University Transparency and Accountability Portal would be created to ensure unrestricted public access to vital financial and governance information, reinforcing openness and accountability in the university system.
‘Universities must also fully disclose their internally generated revenue (IGR) and expenditures, preventing financial secrecy. As an incentive, institutions that demonstrate exceptional transparency and governance standards will be recognized through a University Transparency Index, fostering healthy competition and enhancing their reputation,’ he added.
To sustain these reforms, he said there is a need to professionalise university financial management, strengthen the Auditor-General’s role to focus on governance and systemic risks and restructure visitation panels into a three-year governance review cycle that links financial audits directly to governance reforms.
‘Ultimately, these measures will restore public trust in our universities and attract increased funding from both public and private sources, creating transparent, accountable institutions positioned for global excellence,’ he said.
The Athena Centre and its partners remain committed to working with the National Universities Commission (NUC), professional bodies, and all relevant stakeholders to institutionalise these reforms and ensure financial transparency becomes the bedrock of Nigeria’s higher education governance. In just one year.
Chidoka highlighted that the Athena Centre has already positively influenced policy reforms in areas like post-election audits, malnutrition, health system reform, and education governance.
Transparency is not optional — it’s the key to unlocking funding, restoring trust, and positioning Nigerian universities as credible players on the global stage,’ he added.
