The Federal Government has directed tertiary institutions to submit reports on unused Tertiary Education Trust Fund (TETFund) allocations within 30 days. This move aims to address concerns over unutilized funds, with over ₦600 billion reportedly idle in the Central Bank of Nigeria.
Key Highlights:
– Unused Funds: Over ₦600 billion in unutilized TETFund allocations
– Directive: Institutions must submit reports within 30 days
– Objective: Enhance accountability and project implementation
– Sanctions: TETFund threatens to delist non-compliant institutions
The Academic Staff Union of Universities (ASUU) has expressed concern over the significant unutilized funds, urging sanctions for institutions failing to deploy allocated intervention funds.
