Ichado, O. Reuben
The Bursary Department is the financial arm of the Institute as it deals with all financial transactions and obligations of the Institute. It is headed by an experienced professional Accountant, appointed by the Governing Council in compliance with the statute establishing the Institute. The head of Bursary Department is called the Bursar.
The Department has twenty (20) Staff members, out of which two (2) are members of the Institute of Chartered Accountants of Nigeria (ICAN) while five (5) are members of the Association of National Accountants of Nigeria (ANAN). The remaining Officers are currently at different levels of their professional exams.
The department has seven (7) Units which include:
- The Bursar’s Office
- The Main Cash Office
- The Expenditure control Unit
- The Checking Unit
- The Bank Reconciliation/Final Accounts Unit
- The Salary and Variation Unit
- The Stores Unit
Main Functions of the Bursary Department
- Income generation for the sustenance and development of the Institute
- Payments/settlement of the Institute’s commitments and financial obligations
- Keeping of accounts and accounting records including those of staff and students
- Banking and handling of banking related transactions
- Staff personal emoluments including the management of loans and advances to staff
- The management of cash, stock and stores in the Institute
- Attending to information needs of various supervisory agencies such as Auditor General of the Federation, Ministry of Sports and Youth Development, National Assembly, and the Accountant General’s Office.
Relationship of Bursary with other Departments of the Institute
The Department maintains good working relationship with other Departments of the Institute in order to ensure smooth running of the entire organization.
The Bursary ensures that all financial needs of every Unit/Department are attended to promptly as soon as approval is sought and obtained from the Institute’s authorities.