Abstract:

Nigeria is actually in dilemma of leadership recession and not economic recession, therefore education forms bedrock of ensuring good leadership that will better our dear country Nigeria. This research exercise evaluates effectiveness of internal control system which is in a simple sense a process of how objectives are achieved in Nigerian universities in a cost-effective way and the method adopted was survey design and literature review. The selected Universities considered are: Covenant University Ota Ogun State, Obafemi Awolowo University Ile Ife Osun State and Niger Delta University Bayelsa. Pearson correlation was used to analyse the findings obtained from the survey. The result showed that there are compliances to rules and regulation in Private Universities as compared to Public Universities but there is still a need for continuous evaluation of policies and procedures as to as to enhance adequate compliances. Therefore, the study suggested that Nigerian Universities should instil adequate and effective controls in general aspect of the school environment apart from the fact that this will help to reduce cost, avoid disruption in academic calendar, enhance adequate compliance to rules and regulation, it will also instil a positive character in the student which will help even when they out of the school. A positive character will propel a leadership inbuilt that is in them and will better our dear country Nigeria since youth are the future of any nation.