Athena Centre Launches Report Exposing Widespread Financial Secrecy in Nigerian Universities

The Athena Centre for Policy and Leadership has released its Transparency Survey Report, exposing alarming levels of financial secrecy across Nigerian universities — a national embarrassment that stifles funding threatens research excellence and undermines institutional credibility.

The findings were presented at the official launch 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, held in Abuja on March 5, 2025.

“We honour the legacies of Dr. Arthur Nwankwo and Prof. Olikoye Ransome-Kuti with words and action. Their names will guide these new Institutes as we work to bridge the gap between research and governance,” Chidoka said in his welcome statement.

The hybrid event, held in Abuja, 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.

Disturbing Findings on University Secrecy

The Athena Centre’s comprehensive survey covered 64 Nigerian universities—including 30 federal, 18 state, and 16 private universities across all six geopolitical zones. The results reveal a troubling pattern of institutional opacity:

 Not a single university surveyed published its budget, audited accounts, or visitation panel reports on their website.

 None disclosed a breakdown of internally generated revenue (IGR) or how these funds were spent.

 Repeated requests for financial information under the Freedom of Information Act were either ignored or outright denied by university authorities.

How Nigerian Universities Compare to Global Peers

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, make 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.

“This culture of secrecy is driving away donors, blocking global partnerships, and starving our universities of much-needed funding,” said Chief Osita Chidoka, Chancellor of Athena Centre. “Universities should be role models of openness, accountability, and innovation, not fortresses of secrecy.”

Athena’s Call to Action for Reforms

In pursuit of a more transparent, accountable, and globally competitive university system, we propose establishing a comprehensive legal and institutional framework to embed financial transparency, governance reforms, and performance accountability across all Nigerian universities — federal, state, and private.
This framework will mandate

I. Annual audited financial disclosures,

II. Enforce proactive compliance with the Freedom of Information Act,

III. Establish a University Transparency and Accountability Portal to provide unrestricted, public access to critical financial and governance data.

IV. Full disclosure of internally generated revenue (IGR) and expenditures.

V. Universities demonstrating exceptional transparency and governance standards will be recognised through a University Transparency Index, driving healthy competition and reputational rewards.

To sustain these reforms, we 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.

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.

Athena Centre’s Impact and Commitment

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.

“The time for excuses is over. Transparency is not optional — it’s the key to unlocking funding, restoring trust, and positioning Nigerian universities as credible players on the global stage,” Chidoka concluded.

For media inquiries, contact:
Aliyu Jalal
Media and Communication Officer
Athena Centre for Policy and Leadership
Email: info.centre@athenacentre.org
Phone: 08032725615