Central Universities Endowment Fund (CUEF)
- CUEF will be governed by a 7-member board chaired by the vice-chancellor.
- The board will have three “prominent” donors nominated by the university’s Executive Council for three years: the university’s Finance Officer, and two professors from different departments or streams.
- The board will take decisions on the fund utilisation, and table report before the university’s Finance Committee.
- A reasonable percentage of the fund, not exceeding 50% may be spent annually with a view to maintaining a good corpus for the future.
- FCRA (Foreign Contribution (Regulation) Act) accounts are to be opened by institutions expecting foreign ....
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