An Appraisal of Treasury Management Practices in Nigerian Federal Universities

Treasury management within public institutions has received limited scholarly attention in Nigeria despite its direct relevance to institutional financial stability and accountability. This study appraises the treasury management practices of selected federal universities in Nigeria, examining cash flow management, short-term investment of idle funds, foreign currency management for international payments, and banking relationship management. Using a survey design, data are gathered from bursars, deputy bursars, and treasury officers across six federal universities spread across Nigeria's six geopolitical zones, ensuring geographic diversity in the sample. Structured questionnaires and follow-up interviews provide both quantitative and qualitative data, which are analysed using descriptive statistics and content analysis. The study draws on liquidity management theory and institutional financial governance frameworks to evaluate whether current practices align with best practice standards. The analysis contextualises findings against the backdrop of funding challenges arising from the irregular release of government subventions, the Academic Staff Union of Universities strike impacts on cash flow planning, and the growing proportion of internally generated revenue in university budgets. Recent literature on public sector treasury management in Africa identifies weaknesses in internal control, inadequate treasury management systems, and fragmented banking arrangements as common deficiencies. This study is expected to produce actionable recommendations for the National Universities Commission and university governing councils seeking to improve institutional financial health. Keywords: treasury management, federal universities, cash flow, liquidity, public finance