Last Updated on February 7, 2025 by Olasunkanmi Olajide
By Olasunkanmi Olajide & Femi Dansu
The Bursary Department of the Federal University of Agriculture, Abeokuta (FUNAAB) has introduced an Electronic Payment Voucher System to enhance efficiency, ensure seamless financial transactions, and improve service delivery for all stakeholders.
The innovative system notifies recipients via email before payment is processed. Once payment is completed, an email containing the Payment Voucher is automatically sent, eliminating the need for manual retrieval and reducing errors.
Speaking on this development, the Bursar, Mr. Olukayode Osinuga, described the initiative as a strategic move to modernise financial operations in alignment with global best practices. “We are in the technology era, and our goal is to make life easier for staff and other stakeholders,” he stated during an interview with FUNAAB Bulletin.
Mr. Osinuga, a Fellow of the Institute of Chartered Accountants further explained that the e-payment voucher system streamlines processes by ensuring that all payment vouchers are sent directly to official email addresses, promoting timeliness, transparency, and accountability in financial transactions. He noted that leveraging technology would significantly reduce administrative burdens, save time, and enhance operational efficiency.
In addition, the Bursar revealed that the system has been integrated with the Directorate of Internal Audit, enabling real-time validation of transactions and eliminating the need for physical verification.
Reaffirming the Department’s commitment to continuous improvement, Mr. Osinuga assured stakeholders that the Bursary would continue to refine the system to ensure optimal performance and better service delivery.
With this initiative, FUNAAB takes a bold step towards financial digitalisation, reinforcing its commitment to innovation and excellence in University Administration.
