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Over 137 Scholars Sponsored Abroad Absconded — TETFund Secretary, Sonny Echono

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  • Board may suspend foreign scholarships

Over 137 of the fund’s sponsored students who were studying abroad, according to Sonny Echono, executive secretary of the Tertiary Education Trust Fund (TETFund), have absconded.

During his Tuesday appearance before the House of Representatives’ special committee looking into the alleged “abuse” of the N2.3 trillion tertiary education tax by TETFund, Echono gave a speech.

The executive secretary claimed that after completing their courses, the TETFund-sponsored scholars who were sent abroad for “higher education” refused to come back.

“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,” he said.

“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.”

Echono said 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.

The executive secretary said if the scholars who don’t want to return to the country refuse to repay the money expended on their programs, 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,” Echono said.

“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 program 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.”

The executive secretary said TETFund may 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 (CBN) but when fees are to be paid for scholars abroad, the apex bank insists on TETFUND sourcing forex by itself.

“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,” he said.

“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.”

He said most of our training will now be done locally through “our experienced, first-generation universities and other specialized universities” in the country.

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

Echono also said the federal government was owning TETFund N371.3 billion out of which it has repaid N46 billion so far.

The executive secretary denied the allegations that TETFund mismanaged funds to the tune of N2.3 trillion.

Meanwhile, Oluwole Oke, chairman of the committee, said the probe is not to witchhunt, adding that the lawmakers are out to stop the misuse of public funds.

BIG STORY

NCC Unveils Initiative To Combat Fraud, Spam Messaging

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The Nigerian Communications Commission has unveiled a draft regulatory framework aimed at addressing fraud, spam, and other challenges in the “Application-to-Person” messaging sector.

The telecom regulator made this announcement in a statement on Friday.

The proposed framework was introduced during a virtual Stakeholders’ Forum, a key step towards enhancing the sector’s integrity and ensuring a fair, transparent environment for all parties involved.

The draft framework, presented by the acting Head of Legal and Regulatory Services at the NCC, Mrs. Chizua Whyte, on behalf of the Executive Vice Chairman, Dr. Aminu Maida, seeks to regulate the A2P messaging space.

A2P messaging, used for notifications such as bank alerts, promotional campaigns, and government updates, has become a vital communication tool in Nigeria.

However, the sector faces significant challenges, including consumer protection concerns, fraud, and data privacy issues, as well as an unequal distribution of value within the ecosystem.

“The international A2P messaging space in Nigeria faces gaps that have led to issues such as fraud, spam, and data privacy concerns. These challenges threaten the sustainable growth of this communication tool,” the NCC said.

The regulator emphasised its commitment to fostering innovation while ensuring a secure, transparent environment for businesses, consumers, and service providers.

The proposed framework aims to address these challenges by protecting consumers, promoting fair competition, and holding service providers accountable.

“This forum marks a pivotal step towards addressing these challenges,” the NCC said. “We are here to engage with all stakeholders—operators, aggregators, businesses, service providers, and consumers—to refine the framework and ensure it meets the needs of the entire ecosystem.”

The NCC stressed the importance of inclusivity and collaboration in creating an effective regulatory environment.

The commission’s efforts are focused on promoting a sustainable A2P messaging ecosystem that enables business innovation, enhances communication efficiency, and supports Nigeria’s socio-economic growth.

Stakeholders were encouraged to provide feedback and contribute ideas during the forum to help shape the final framework.

The NCC reiterated its commitment to creating a regulatory environment that supports innovation while safeguarding the interests of all stakeholders in the A2P messaging sector.

For further updates, the NCC urged stakeholders to remain engaged throughout the regulatory process, stressing the importance of cooperation in shaping the future of A2P messaging in Nigeria.

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BIG STORY

JUST IN: Oil Marketers Reduce Petrol Price By 11.8% To N939.50 Per Litre

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Oil marketers sourcing “Premium Motor Spirit”, “PMS”, also known as petrol, from the Dangote Petroleum Refinery have reduced the price by 11.8 percent to N939.50 per litre, down from N1,060 per litre.

As of Thursday, December 19, petrol was still being sold at N1,060 per litre in Lagos and surrounding areas.

However, by Friday, MRS, a leading marketer, along with others, had adjusted their prices, now selling at N939.50 per litre.

It’s worth noting that the Dangote Petroleum Refinery had earlier lowered the ex-pump price of petrol to N899.50 per litre, down from N970 per litre.

According to the refinery, this price reduction is intended to offer much-needed relief to Nigerians ahead of the holiday season.

Anthony Chiejina, the Chief Branding and Communications Officer of Dangote Group, made this announcement.

“To alleviate transport costs during this holiday season, Dangote Refinery is offering a holiday discount on “PMS” (“petrol”). From today, our petrol will be available at N899.50 per litre at our truck loading gantry or SPM,” Chiejina said.

‘‘Furthermore, for every litre purchased on a cash basis, consumers will have the opportunity to buy another litre on credit, backed by a bank guarantee from Access Bank, First Bank, or Zenith Bank.”

 

More to come…

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BIG STORY

EFCC Allocates N18bn For Allowances, N5bn For Travels In Proposed 2025 Budget

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The Economic and Financial Crimes Commission (EFCC) has announced plans to allocate N18 billion for allowances in 2025.

This figure is part of the proposed 2025 budget currently under consideration and awaiting approval by the national assembly.

As per the appropriation bill, the EFCC’s total budget for 2025 stands at approximately N62.2 billion.

This budget includes personnel costs (N38.6 billion), overheads (N20.9 billion), and capital expenditure (N2.2 billion).

Within the allowance budget, N1.7 billion is designated for “non-regular allowances,” while “regular allowances” are set at N16.7 billion.

Other proposed expenditures for the EFCC include welfare packages (N1.4 billion), fuel and lubricants (N2 billion), financial charges (N1.2 billion), construction and provision of office buildings (N1.1 billion), and maintenance services (N2.1 billion).

The EFCC also plans to allocate N4.9 billion for “local travel and transport,” with “international travel and transport” expected to cost N1.7 billion.

The proposed budget includes N800 million for the purchase of fixed assets.

On Wednesday, President Bola Tinubu unveiled the N49.7 trillion 2025 “Budget of Restoration: Securing Peace and Rebuilding Prosperity.”

In his address to the national assembly, Tinubu stated that it was time “we rewrite Nigeria’s narrative together.”

The primary focus of next year’s budget will be the defence, infrastructure, health, and education sectors.

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