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Forex Crisis: TETFund Mulls Suspension Of Overseas Scholarships

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The Tertiary Education Trust Fund has said the recent monetary policy of the Central Bank of Nigeria has created difficulties in the payment of foreign scholarship tuition and stipends.

The Executive Secretary of TETFund, Sonny Echono, disclosed this at a one-day Stakeholders’ Engagement on Emerging Issues with the TETFund Intervention in Abuja on Wednesday.

Echono said since the fund’s allocation was barely enough to service programmes under its Tertiary Scholarship for Academic Staff, the fund was considering suspending foreign scholarships while also considering an upward review of local scholarships.

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The Fund at this material time is also discouraging beneficiary institutions from initiating new Benchwork programmes.

”Additionally, there are issues related to scholars not returning to serve their bonds at their home institutions upon completion of their programmes.

READ ALSO: Youths In Enugu Governor’s Community Protest alleged Land Grabbing, Others by Traditional Ruler, Ex PG

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”In fact, the challenge of scholars absconding has undermined and complicated the TSAS programme and bringing it under intense scrutiny.

”It is for these and other reasons that this engagement was organised. We need to address these challenges and find solutions to ensure the effective and smooth implementation of our scholarship programmes,” he said.

The Executive Secretary noted that the Fund had recently signed several MoUs with some prestigious institutions overseas that include universities in Malaysia, India, Brazil, France and the United States with a view to boosting and enhancing the TSAS programme in the future.

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”You will also recall that to enhance the effectiveness of the National Research Fund, a National Research Fund Screening and Monitoring Committee was established to screen and select proposals from across institutions and researchers for funding.

”The committee comprises senior academic staff of universities and other tertiary institutions across the country. Members are appointed for an initial period of two years that is renewable. However, no member is allowed to serve for more than four years, which is equivalent to two terms.

READ ALSO: Why I Haven’t Delivered Mubarak Bala’s Open Letter To Tinubu – Soyinka

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”Similarly, to ensure the successful implementation of the Higher Educational Book Development Project, the Board of Trustees of the Fund set up the standing Technical Advisory Group committee in 2009.

”The mandate of this committee includes working collaboratively with the Fund to fine-tune the Book Development Blueprint into a Strategic working document that clearly spells out the administrative procedures, framework, and guidelines for effective access and utilisation of TETFund Higher Education Book Development Intervention Funds in Institutions within the nation.

“The TETFund Book Development Fund intervenes in three key areas: publication of academic books and the conversion of high-quality theses into books, support for professional Association Journals, and the establishment and sustainability of academic Publishing centres.

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”It is pertinent to note that the standing Technical Advisory Group requires reconstitution just as the NRF Screening and Monitoring Committee, as some members have served for four years,” he added.

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Also, the acting Executive Secretary, National Universities Commission, Chris Maiyaki, called for the need to develop new strategies for funding while ensuring sensitivity of the evolving challenging dynamics through qualitative funding.

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Maiyaki advised the fund to revamp its monitoring for quality assurance so as to have a better return on investment in its projects.

Meanwhile, the Chairman, House Committee on TETFund, Princes Miriam Onuoha, said in making essential infrastructure available in tertiary institutions, there was a need to ensure inclusivity, especially with Persons Living With Disabilities.

According to her, in our physical planning, we must make accessible the building to be accommodating to the needs of PLWDs.

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In the same vein, the former Executive Secretary of NUC, Prof. Peter Okebukola, called for a monitoring and implementation system to ensure that the academic calendars of universities were adhered to.

READ ALSO: JUST IN: FG Dissolves Advertising Body Over Approval Of ‘All Eyes On The Judiciary’ Billboards

Okebukola who spoke on TSAS, emerging issues and possible solutions, clamoured for reduced TETFund overseas scholarships while encouraging in-country training in TETFund-strengthened PG programmes.

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”In offering solutions to these challenges, there is a need to offer TETFund support to top-rated lecturers from overseas universities to come to Nigeria to join local PG training by Nigerian professors.

”We must send professors (of at least 10 years standing) for capacity building to top-rated overseas universities in carefully selected programmes on return to bolster doctoral education and supervision,” he said.

Okebukola added that rather than continuously spending a lot of funds on foreign training, local universities should be provided with state-of-the-art facilities while carrying out accreditation of postgraduate programmes.

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Foundation Holds School Debate In Benin To Address Negative Narrative About Education

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Osahon Enabulele Foundation, (DOEF), has given reason for organising interschool secondary schools debate in Edo State, saying it was “conceived to tackle the negative narrative surrounding the value of education among the younger generation.”

The Director—General of the foundation, Dr. Osahon Enabulele, stated this at the grand finale of the maiden edition of the debate held in Benin on Wednesday.

The competition, titled: “If education is a scam or not” was informed by the social-economic reality with students demonstrating impressive intellectual competition and depth.

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Enabulele stressed that the debate was aimed at promoting intellectual development, encouraging civic engagement and public speaking, and fostering leadership qualities and critical thinking.

READ ALSO:Foundation Engages Traditional Leaders To Curb GBV In Bauchi

He added that the foundation, established nine months ago, was driven by strategic pillars that include leadership and governance, health, education, policy advocacy and social philanthropy.

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According to him, many young people are becoming disillusioned by society’s “defective role modelling” and the “unfortunate reward for individuals with questionable sources of wealth,”

He said, “The debate is totally driven by the Foundation as a deliberate interventionist initiative that seeks to reverse the worrisome negative narrative about education, particularly amongst our upcoming generations, including our youths who are increasingly becoming victims of our society’s defective role modelling and unfortunate reward for individuals with very questionable sources of wealth, with leadership and societal positions. Our younger ones are truly becoming disillusioned as a result of these inanities.

“Some no longer think it is worthwhile to acquire education or task their brains in any way. This debate initiative is therefore our Foundation’s committed efforts to contribute to the reversal of this worrisome trend and mindset affliction.”

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READ ALSO:Employ Sign Language Interpreters, Foundation Urges Nigerian Banks

The interschool debate saw Eghosa Grammar School clinching the N1m star prize while other winners were also presented with a certificate of participation, books and other sundry items.

The outstanding speakers during the debate also went home with cash prizes ranging from N100,000 to N200, 000.

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Trump’s Military Threat: ‘Poor Man Is Already A Sinner’ – Shehu Sani

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Former lawmaker, Shehu Sani, has criticised United States President Donald Trump’s approach to global relations, alleging a double standard in the way he engages with different regions of the world.

In a statement posted on X on Wednesday, Sani said Trump had secured a trillion-dollar deal from Saudi Crown Prince Mohammed bin Salman and consistently defended the kingdom, while raising issues of human rights, terrorism and religious persecution only when dealing with African leaders.

According to him, no African, European or Latin American nation could offer Trump the kind of financial leverage that oil-rich Arab states provide.

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READ ALSO:US Lawmakers Demand Answers From Trump Administration Over Chinese Chemical Shipments To Iran

Sani’s remarks come amid Trump’s recent threat of military action in Nigeria over allegations of Christian genocide.

The former lawmaker argued that in a materially driven world, “a poor man is already a sinner,” suggesting that economic power continues to shape international attitudes and interventions.

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He wrote: “Mr Trump got a deal of a trillion dollar from Bin Salman and defended everything about Saudi Arabia. No African, European or Latin American country can give him that.

“When they are talking with oil rich Arab countries, issues of human rights, executions, terrorism and religion doesn’t come up, until they meet with African leaders and start asking them where they learned ‘how to speak English’. In a material World, a poor man is already a sinner.”

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Why Nigerians Are Not Feeling Inflation Drop – Economists

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Despite Nigeria recording its seventh consecutive month of disinflation, economists and financial analysts have raised concerns that the easing inflation trend has brought little or no relief to Nigerians and households already overwhelmed by high living costs and economic hardship.

The National Bureau of Statistics (NBS) reported that headline inflation slowed to 16.05 per cent in October 2025, down from 18.02 per cent in September, one of the strongest single-month declines this year.

Food inflation also moderated to 13.12 per cent, compared to 16.9 per cent in the previous month.

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But economists and analysts insist the improved figures do not reflect the economic reality facing millions of Nigerians.

The Chief Executive Officer of the Centre for the Promotion of Private Enterprise (CPPE), Dr Muda Yusuf, said the gains from the latest figures have not translated into real cost-of-living relief because price pressures remain elevated across essential sectors.

READ ALSO:Why U.S. Military Intervention In Nigeria Will Be Messy, Says Adeyemi

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Inflationary pressures remain elevated in critical household sectors—including food, transportation, housing, utilities, education, and health—which jointly account for 84 percent of inflation,” Yusuf noted.

He attributed the limited impact of disinflation to persistent structural challenges such as high logistics costs, energy constraints, insecurity in food-producing regions and climate-related disruptions that continue to suppress supply.

According to him, “the full welfare benefits are yet to be sufficiently felt by households due to persistent structural constraints.”

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Yusuf advised that deeper and sustained reforms across key sectors—supported by coordinated monetary, fiscal and structural policies—are necessary to turn statistical improvements into real economic progress.

‘NBS Inflation Figures Are Flawed’ — Former CIBN President, Okechukwu

In an interview with DAILY POST, Mazi Okechukwu Unegbu, former President of the Chartered Institute of Bankers of Nigeria (CIBN), said the October inflation report is detached from the real-life experience of Nigerians.

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Unegbu insisted the country’s true inflation rate is significantly higher than official figures suggest.

The inflation figure by the National Bureau of Statistics is flawed because it does not reflect reality. In real terms, the country’s inflation is as high as 29 percent,” he said.

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He argued that the persistent rise in the cost of food, rent, transportation, fuel, and other essentials shows that the declining inflation rate “does not make sense” to the average Nigerian.

Why Nigerians Still Feel No Relief — Oyedokun

An economist and a university don, Prof Godwin Oyedokun, said most Nigerians feel no impact from the inflation slowdown because the structural drivers of the cost-of-living crisis remain intact.

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READ ALSO:US Lawmakers Demand Answers From Trump Administration Over Chinese Chemical Shipments To Iran

He outlined six reasons why Nigerians are yet to feel the impact of inflation: “Prices are still rising— just more slowly- A drop in inflation does not mean prices are falling. Nigerians are still paying historically high amounts for food, transport, energy and rent.

“Incomes remain stagnant- Wages, pensions and SME earnings have failed to keep up with inflation for two years, weakening purchasing power.

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“Key cost drivers remain unresolved- Exchange-rate volatility, high energy costs, logistics inefficiencies, insecurity in food belts and elevated interest rates continue to fuel price increases.

READ ALSO:Two Nigerians Sentenced For Attempting To Obtain Ghana Cards With False Identities

Inflation expectations are still high- Businesses expect prices to rise further and therefore adjust prices upward in advance.

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State-to-state variations distort relief- Some states still record much higher food and transportation inflation than the national average.

“Poverty levels overshadow economic data- With high unemployment and widespread poverty, even a slowdown in inflation does little to improve household welfare.”

Prof. Oyedokun concluded that “Nigerians have yet to feel any relief because the level of prices— not just the rate of change— remains painfully high, and the structural conditions driving hardship persist.”

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