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Exchange Rate Crisis: TETFund to suspend foreign scholarship

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Exchange Rate Crisis: TETFund to suspend foreign scholarship

Exchange Rate Crisis: TETFund to suspend foreign scholarship

The Tertiary Education Trust Fund (TETFund), on Tuesday, said it plans to suspend foreign scholarships for Nigerian students because of the current exchange rate crisis.

The Executive Secretary of TETFund, Sonny Echono said this on Tuesday when he appeared before the House of Representatives Ad-hoc committee investigating the alleged mismanagement of N2.3tn tertiary education tax by TETFund.

Echono also revealed that over 137 students sponsored abroad by the fund absconded.

He stressed that the scholars who were sponsored by TETFund for “higher education” abroad refused to return to the country after completing their programmes.

In his words, “Some of the scholars that have been sponsored, unpatriotically when they go, they enjoy our scholarship, acquire a higher degree, then refuse to come back, it has become a major crisis.

“The scholarship requires that you will come back. It is required that you have a guarantor and in many cases, the guarantor has suffered undue hardship because when you disappear, we hold the guarantor to pay all the money expended on your behalf but that has not been effective.”

He also revealed that TETFund is working with stakeholders for “stringent and effective measures” to be taken against those who refuse to return to the country for Nigerians to benefit from their expertise.

“We believe that in a system where we work with our embassies and the institutions, we can enforce the repayment for those who insist they will not come back,” he said, adding that if the scholars who don’t want to return to the country refuse to repay the money expended on their programmes, they will be declared persona non grata.

“We will write to the embassies and they will make it available to those countries and they will not be able to get jobs. They will be seen as fugitives of law from their countries.

“We may have to take that hard stand because the numbers are alarming. We just checked about 40 institutions and over 137 absconders and the review is ongoing.

“It is a huge number that we cannot afford and so we will be seeking your support to strengthen some of the existing regulations to ensure that those who benefit from this programme must come back.

“We are not against people looking for greener pastures but do so on your own, not through our scholarship or our sponsorship.”

Speaking on the plan to suspend foreign scholarship due to the exchange rate crisis, Echono said that some of the taxes are paid to TETFund in foreign currencies at the account domiciled with the Central Bank of Nigeria but when fees are to be paid for scholars abroad, the apex bank insists on TETFUND sourcing Forex by itself.

He said: “We operate a system where our forex is being sold on our behalf at an official rate and we apply like anybody else to get it, sometimes it leads to additional cost.

“Currently as I speak, we are in consultations with all our stakeholders to suspend foreign training for a year or two.

“This is because of the recent exchange rate adjustments. We are unable to continue based on our disbursement guidelines.

“The money we allocated in naira cannot cover the dollar requirement for training. For those who are currently there, we now need more naira to pay for the dollar that is required for their annual fees. We are trying to put a hold.”

According to Echono, most of TETFund’s training will now be done locally through “our experienced, first-generation universities and other specialised universities” in the country.

“This way we can retain our resources in-house and cope with the change of foreign exchange variation,” he added.

Echono, who also revealed the federal government was owning TETFund N371.3 billion out of which it has repaid N46 billion so far, denied the allegations that TETFund mismanaged the N2.3tn fund.

Exchange Rate Crisis: TETFund to suspend foreign scholarship
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Africa

Customs hands over illicit drugs worth N117.59m to NDLEA

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Customs hands over illicit drugs worth N117.59m to NDLEA

The Nigeria Customs Service (NCS), Ogun Area 1 Command, has handed over illicit drugs worth N117.59 million to the National Drug Law Enforcement Agency (NDLEA).

The Comptroller of the command, Mr James Ojo, disclosed this during the handing over of the drugs to Mr Olusegun Adeyeye, the Commander of NDLEA, Idiroko Special Area Command, in Abeokuta, Ogun, on Friday.

Ojo said the customs handed over the seized cannabis and tramadol tablets to the Idiroko Special Command for further investigation in line with the standard operating procedures and inter-agency collaboration.

He said the illicit drugs were seized  in various strategic locations between January and November 21, 2024, in Ogun State.

He added that the illicit drugs were abandoned at various locations, including the Abeokuta axis, the Agbawo/Igankoto area of Yewa North Local Government Area, and Imeko Afton axis.

Ojo said that the seizure of the cannabis sativa and tramaling tablets, another brand of tramadol, was made possible through credible intelligence and strategic operations of the customs personnel.

“The successful interception of these dangerous substances would not have been possible without the robust collaboration and support from our intelligence units, local informants and sister agencies.

“These landmark operations are testament to the unwavering dedication of the NCS to safeguard the health and well-being of our citizens and uphold the rule of law,” he said.

He said the seizures comprised 403 sacks and 6,504 parcels, weighing 7,217.7 kg and 362 packs of tramaling tablets of 225mg each, with a total Duty Paid Value of N117,587,405,00.

He described the height of illicit drugs smuggling in the recent time as worrisome.

This, he said, underscores the severity of drug trafficking within the borders.

“Between Oct. 13 and Nov. 12 alone, operatives intercepted a total of 1,373 parcels of cannabis sativa, weighing 1,337kg and 362 packs of tramaling tablets of 225mg each,” he said.

Ojo said the seizures had  disrupted the supply chain of illicit drugs, thereby mitigating the risks those substances posed to the youth, families and communities.

He lauded the synergy between its command, security agencies and other stakeholders that led to the remarkable achievements.

Ojo also commended the Comptroller General of NCS for creating an enabling environment for the command to achieve the success.

Responding, Adeyeye, applauded the customs for achieving the feat.

Adeyeye pledged to continue to collaborate with the customs to fight against illicit trade and drug trafficking in the state.

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Education

Akpabio pledges enabling laws to enhance polytechnics’ capacity

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Akpabio pledges enabling laws to enhance polytechnics’ capacity

Senate President Godswill Akpabio has promised to ensure enabling laws that would enhance the capacity of the nation’s polytechnics.

Akpabio, represented by Sen. Dandutse Muntari, was speaking in Abuja on Friday at a One-Day Retreat for National Assembly Members, Chairmen of Governing Council, Rectors and other Stakeholders in the education sector.

The event was organised in collaboration with the National Board for Technical Education (NBTE).

The News Agency of Nigeria (NAN) reports that the retreat has the theme:’ Repositioning the Nigerian Polytechnics to Deliver on Nigeria’s Industrialisation and Youths Empowerment ‘.

Akpabio explained that President Bola Tinubu, under the renewed hope agenda, was committed to ensure the sustainability of employment opportunities and create industrial development through the polytechnics.

According to him, the retreat is apt as Nigeria wants to improve the capacity of the polytechnics in Nigeria so that they could be innovative and also create job opportunities for Nigerians.

“Skills acquisition and all innovation starts with the polytechnics, so there is a need to change the curriculum and also look into the funding of polytechnics so that they can achieve what others did not achieve.

“For example, most of the developed countries, especially China and the rest of European countries, depend on skills acquisition to make inventions and innovations.

“So, it is important we harness these innovations and that is why we want to use the polytechnics and the educational system under our leadership to ensure that we have sustainable development,” he said.

Speaking on the planned industrial action by the Academic Staff Union of Polytechnics (ASUP), he called for comprehensive dialogue noting that strike was not a solution to most of these challenges in the institutions.

He further explained that the presidency and the leadership of education were doing their best in spite of the challenges, to ensure that prompt payments of their demands were made in addition to providing infrastructural development in the institutions.

Declaring the retreat open, the Minister of Education, Dr Tunji Alausa, said it was imperative to strengthen polytechnics education in the country.

Alausa was represented by the Director, Department of Polytechnics Education and Allied Institutions in the ministry, Alex Usman.

He said this was necessary as polytechnics education played a central role in addressing the challenges of unemployment, underemployment and the growing demand for skilled labour.

“Education is the bedrock of any nation’s development and technical education in particular is a catalyst for industrial growth and innovation.

“The world is moving rapidly towards a knowledge driven economy where skills, creativity and technological advancement determine the strength of a nation.

“The importance of repositioning Nigerian polytechnics is strategic to drive the industrialisation agenda and empower youths who are the backbone of our economy,” he said.

Meanwhile, the Executive Secretary, NBTE, Idris Bugaje, encouraged polytechnics to stop paper qualifications but deliver on skills and employability to ensure skills qualification for graduates.

Bugaje, while emphasising the importance of the retreat, said it would synergise stakeholders to deliver on the mandate of Polytechnics education.

In a goodwill address, the President of ASUP, Shammah Kpanja, called on stakeholders to be mindful of the need to always avert industrial action in repositioning polytechnics education.

Kpanja pledged to continue to partner with the government in ensuring a seamless academic calendar in the polytechnics across the country.

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Africa

Ann-Kio Briggs Faults Tinubu for Scrapping Niger Delta Ministry

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Prominent Niger Delta human rights activist and environmentalist, Ann-Kio Briggs, has criticised President Bola Tinubu’s decision to scrap the Ministry of Niger Delta, describing it as ill-advised and detrimental to the oil-rich region.

Briggs expressed her concerns during an appearance on Inside Sources with Laolu Akande, a socio-political programme aired on Channels Television.

“The Ministry of Niger Delta was created by the late (President Umaru) Yar’Adua. There was a reason for the creation. So, just removing it because the president was advised. I want to believe that he was advised because if he did it by himself, that would be terribly wrong,” she stated.

President Tinubu, in October, dissolved the Ministry of Niger Delta and replaced it with the Ministry of Regional Development, which is tasked with overseeing all regional development commissions, including the Niger Delta Development Commission (NDDC), North-West Development Commission, and North-East Development Commission.

Briggs questioned the rationale behind the restructuring, expressing concerns about its feasibility and implications. “But that’s not going to be the solution because who is going to fund the commissions? Is it the regions because it is called the Regional Development Ministry? Is it the states in the regions? What are the regions because we don’t work with regions right now; we are working with geopolitical zones,” she remarked.

She added, “Are we going back to regionalism? If we are, we have to discuss it. The president can’t decide on his own to restructure Nigeria. If we are restructuring Nigeria, the president alone can’t restructure Nigeria, he has to take my opinion and your opinion into consideration.”

Briggs also decried the longstanding neglect of the Niger Delta despite its significant contributions to Nigeria’s economy since 1958. “The Niger Delta has been developing Nigeria since 1958. We want to use our resources to develop our region; let regions use their resources to develop themselves,” she asserted.

Reflecting on the various bodies established to address the region’s development, Briggs lamented their failure to deliver meaningful progress. She highlighted the Niger Delta Basin Authority, the Oil Mineral Producing Areas Development Commission (OMPADEC), and the NDDC as examples of ineffective interventions.

“NDDC was created by Olusegun Obasanjo…There was OMPADEC before NDDC. OMPADEC was an agency. Before OMPADEC, there was the Basin Authority…These authorities were created to help us. Were we helped by those authorities? No, we were not,” she said.

Briggs further described the NDDC as an “ATM for failed politicians, disgruntled politicians, and politicians that have had their electoral wins taken away from them and given to somebody else.”

Her remarks underscore the deep-seated frustrations in the Niger Delta, where residents continue to advocate for greater control over their resources and improved governance.

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