Rector Urges Bursars On Strategies Against Financial Wastages In Institutions

Dr Oluremi Olaleye, Rector, Lagos State Polytechnic (LASPOTECH) Ikorodu, has urged bursars to come up with strategies to lock financial leakages in Nigeria tertiary institutions.

Olaleye stated this at the 43rd regular meeting of the Bursars’ Association of Polytechnic and Colleges of Technology (BURSCON) in Lagos on Wednesday.

He said that at this period, the bursar’s role of offering advice to enhance financial prudence was of utmost importance.

”The significant roles of bursars’ in the development of tertiary institutions can not be overemphasised.

“This conference is, therefore, an opportunity for bursars of various institutions to evaluate their strategies and plans for the continuous growth of various tertiary institutions.

“We need to analyse the effect of COVID-19 pandemic on the dwindling resources of Nigeria and various institutions of learning with innovative ways to manage the scarce resources,” Olaleye said.

 The rector urged all bursars in tertiary institutions to generate new ideas, methods, and strategies to increase Internal Generated Revenue (IGR) without increasing school fees.

Mr. Maumo Jinadu, LASPOTECH bursar said that it was their prerogative as professional accountants to advise management on the need to break new grounds on IGR to assist the development of various institutions.

 According to Jinadu, bursars have played noble roles in ensuring prudent financial management to facilitate educational and technological advancement in Nigeria.

 “This conference will further ensure best global financial practices for our institutions and the education at large, especially in the post-COVID-19 era.

 “We are also going to brainstorm on many issues by giving advice among ourselves, for instance, we had issues about IGR after the lockdown due to the COVID-19 pandemic.

 “We need to break new grounds which we have been succeeding with new ideas to generate funds for institutions,” he said.

 Also, Mr. Fabinu Amos, National President, BURSCON said that their major goal was to brainstorm on how they could get funds to solve challenges facing tertiary institutions.

 Amos noted the need to look for better solutions to sustain polytechnic and college of education institutions in the country.

 He added also the need to improve collaboration between bursars and management to ensure that the former achieve its aims and bail themselves from financial crises.

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