The Tertiary Education Trust Fund (TETFund) indicates that the recent monetary policy of the Central Bank of Nigeria (CBN) has made it difficult for payment of of foreign scholarship tuition and stipends.
Executive Secretary of TETFund, Arc. Sonny Echono, disclosed this at a One-Day Stakeholders Engagement on Emerging Issues with the TETFund Intervention in Abuja.
Echono said since the fund’s allocation was barely enough to service programmes under its Tertiary Scholarship for Academic Staff (TSAS), the fund was considering suspending foreign scholarships while also considering upward review of local scholarships.
In the same vein, the former Executive Secretary of NUC, Prof. Peter Okebukola,who spoke on TSAS, emerging issues and possible solutions, clamour for reduced TETFund oversees scholarships while encouraging in-country training in TETFund strengthened Post Graduate programmes.
Meanwhile, Acting Executive Secretary of the National Universities Commission Chris Maiyaki and others speakers emphasized on the need to develop new strategies for funding of the nations higher institutions.
The Programme attended by key stakeholders in the education sector is expected to come up with a communique that will address grey areas as it relates to TETFund statutory responsibilities.
