Abstract

Just as a compass guides a traveller, sound financial records management steers universities toward accountability and sustainability. This study assessed financial records management practices in the Bursary Department of the National Open University of Nigeria (NOUN), focusing on record types, management procedures, challenges, and strategies for improvement. Anchored on the Records Life Cycle Theory and the Records Continuum Model, the study adopted a descriptive survey design with a population of 104 bursary staff and purposive sampling technique was used. Checklist and questionnaire were used for data collection using google form. 48 responses were recorded.  Data were analysed using descriptive statistics, including frequency, percentage, and mean. Findings showed that records such as payroll, procurement, and revenue documents were well maintained. Furthermore, both print and electronic records were maintained. The department employed systematic classification, secure storage, and prompt record capture. However, challenges such as limited ICT infrastructure, inadequate staff training, unreliable power supply, and insufficient funding hinder optimal performance. Regular capacity building, investment in ICT tools, improved funding, and strong policy enforcement were means of enhancing records management efficiency. Like strengthening the pillars of a bridge, improving policy, technology, training, and management support will ensure the stability and transparency of financial operations. The study concludes that reinforcing these areas will not only enhance accountability and efficiency at NOUN but also offer a practical model for other Open and Distance Learning (ODL) institutions striving for effective financial governance.