- TETFund intervention funds are still unused at the Central Bank of Nigeria (CBN) by institutions across the country
The House of Representatives has committed to addressing the issues that prevent Nigerian tertiary institutions from accessing the Tertiary Education Trust Fund (TETFund) allocations.
During a recent visit to Kaduna State, the House Committee on TETFund and Other Services revealed that over N500 billion in TETFund intervention funds are still unused at the Central Bank of Nigeria (CBN) by institutions across the country. Hon. Mariam Odinaka Onuoha, Chairman of the Committee, led the delegation to Kaduna State Governor Uba Sani, and revealed that three state-owned institutions in Kaduna alone have over N1.3 billion in untapped TETFund resources.
“One of our primary responsibilities is to oversee tertiary interventions and ensure accountability for all funds allocated to bridge infrastructure gaps and enhance teaching and learning,” Onuoha said. “We also oversee the TETFund agency, a role we began in May. During this oversight, we found over N500 billion sitting unused at the CBN, allocated but not yet accessed by the beneficiary institutions.”
She added, “Despite various excuses for the accumulation of these funds, we are determined to facilitate their release to the institutions without further delay. We are investigating the problems faced by these institutions and seeking solutions to ensure that the funds serve their intended academic purposes.”
Onuoha also highlighted specific unutilised amounts: N547 million for Kaduna State University, N724 million for Nuhu Bamalli Polytechnic, and N30 million for the College of Education, Gidan Waya, totaling N1.302 billion.
Kaduna deputy governor, Dr. Hadiza Balarabe expressed gratitude for the Committee’s visit and encouraged institutional heads to openly communicate their challenges.