The Institute of Professional Studies (IPS), one of the leading public institutions that train accounting professionals will become a university soon. When that happens, it will be known as University of Professional Studies (UPS).
The Rector of the Institute, Prof. Joshua Alabi who revealed this when the management of the Institute appeared before the Public Accounts Committee of Parliament Tuesday said the Institute has received the Presidential Charter to upgrade to a university.
He added that the bill will be passed on to Parliament for discussion and possible approval, and he expressed the hope that Parliament will speed up passing the Bill to make the IPS become a university soon enough.
The IPS which currently offers Bachelors and Masters degree programmes in Accounting, Finance, Management and Business Administration, hope to introduce new courses to meet the demands of the times, he said.
According to Prof. Alabi, the Institute is facing difficult financial challenges, because it receives only about 40 to 45% of its funding from government, and has to find ways of raising the rest on its own.
By Emmanuel K. Dogbevi