Over N500 billion in intervention funds remains unutilized at the Central Bank of Nigeria (CBN) by Nigerian tertiary institutions nationwide.
Hon. Mariam Odinaka Onuoha, Chairman of the Committee on TETFund and Other Services disclosed this during a recent visit to Kaduna State governor Uba Sani, said the House is committed to addressing the challenges that are preventing Nigerian tertiary institutions from accessing the Tertiary Education Trust Fund (TETFund) allocations available to them.
She revealed that three state-owned institutions in Kaduna alone have over N1.3 billion unaccessed TETFund resources.
“Unutilised amounts are 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.
“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.
“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.
“Despite various excuses for accumulating 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 said.
Responding, Dr. Hadiza Balarabe Kaduna Deputy Governor encouraged institutional heads to openly communicate their challenges and expressed gratitude for the Committee’s visit.
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