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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.

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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.

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.

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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.

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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.

”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.

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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.

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“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.

”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.

READ ALSO: Trump Indicted For Attempts To Overturn US 2020 Elections

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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.

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.

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

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

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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.

”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.

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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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FG Predicts Heavy Rainfall, Flood In Seven States

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The Federal Ministry of Environment on Saturday predicted possible flooding in seven states and 25 locations across Nigeria.

The ministry, in its flood alert warned that heavy rainfall expected between August 23 and 24 could lead to flooding in the listed areas.

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The alert was signed by the Director of the Erosion, Flood and Coastal Zone Management Department, Usman Bokani.

He further directed residents of communities along the flood plain from Jebba to Lokoja to evacuate immediately as the River Niger’s water level continues to rise.

READ ALSO:NiMet Predicts 3-day Thunderstorms, Rains

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Due to the rise in the water level of River Niger, communities on the flood plain from Jebba to Lokoja are advised to evacuate,” he said.

The states and communities expected to be affected include Benue State (Abinsi, Agyo, Gbajimba, Gogo, Makurdi, Mbapa, Otobi, Otukpo, Udoma, Ukpiam); Borno State (Briyel, Dikwa, MaiduKamba; Gombe State (Bajoga, Dogon Ruwa, Gombe, Nafada); Kebbi State (Gwandu, Jega, Kamba); Nasarawa State (Agima, Keana, Keffi, Odogbo, Rukubi); Niger State (Lapai); and Yobe State (Gashua, Gasma, Potiskum).

On Friday, the National Emergency Management Agency urged residents in high-risk flood plains to evacuate to safer and higher grounds.

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READ ALSO:Again, NiMet Predicts Three-day Thunderstorms, Rain From Saturday

The states at high risk according to the agency are Kebbi, Niger, Kwara states that share borders with Benin Republic.

This was disclosed in a press statement signed by the agency’s Head of Press Unit, Manzo Ezekiel.

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The Director General of NEMA, Mrs. Zubaida Umar, also directed all NEMA offices covering communities along the River Niger to intensify advocacy and mobilization for flood preparedness following alerts of rising water levels in the upstream of the river in the Republic of Benin.

READ ALSO:NiMet Predicts 3-day Rains, Thunderstorms Across Nigeria From Sunday

In an urgent directive conveyed to the operations offices, Mrs. Zubaida Umar instructed them to sensitize communities to remain vigilant and advise residents in high-risk flood plains to evacuate to safer, higher grounds, especially those in Kebbi, Niger and Kwara states that share borders with Benin Republic.

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“She further urged the State Governments of the identified high-risk areas to support their Emergency Management Agencies (SEMAs) and Local Emergency Management Committees (LEMCs) in activating contingency plans and preparedness measures to mitigate the potential impact of this year’s flooding.

“The Director General reaffirmed NEMA’s commitment to ensuring coordinated actions to safeguard lives and livelihoods along the River Niger,” the statement noted.

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‘Court Of Corruption’ — Obasanjo Knocks INEC Chairman, Judiciary In New Book

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Former President Olusegun Obasanjo has criticised the Nigerian judiciary, saying it has been “deeply compromised” and that corruption among judges has turned courts into “a court of corruption rather than a court of justice.”

In his new book, Nigeria: Past and Future, Obasanjo laments the steady decline of the Nigerian judiciary’s integrity, warning that justice has become commodified in Nigeria.

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“The reputation of the Nigerian judiciary has steadily gone down from the four eras up till today. The rapidity of the precipitous fall, particularly in the Fourth Republic, is lamentable,” Obasanjo wrote.

He expressed concern that the judiciary’s decline poses a significant threat to the nation’s stability.

READ ALSO:EFCC Raids Obasanjo’s Hotel, Arrests Suspected Internet Fraudsters At Pool Party

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Obasanjo recounted an incident where a governor showed him six duplex buildings belonging to a judge who allegedly acquired them from money made as chairman of election tribunals. This anecdote, he said, illustrates the depth of corruption in the judiciary.

The former president also accused Mahmood Yakubu, INEC chairman, of undermining the electoral process since 2015.

“No wonder politicians do not put much confidence in an election which the INEC of Professor Mahmood Yakubu polluted and grossly undermined to make a charade,” he said.

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Obasanjo further alleged that politicians believe the outcome of election disputes depends on the will of tribunal judges, court of appeal judges, and supreme court judges.

READ ALSO:Obasanjo Blames Loss Of Values For Democracy’s Failure In Africa

No matter what the will of the people may be, the Chairman of INEC since after the 2015 election had made his will greater and more important than the will of the people,” he added.

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Moreover, Obasanjo directly accused the late former President Muhammadu Buhari of colluding with the judiciary during his election cases.

Buhari threw caution to the wind, no matter what had transpired between him and the judges who did his bidding. In his election cases, financially, he topped it up with appointments for them no matter their age and their ranks,” Obasanjo alleged.

The former president concluded that the current state of the judiciary and electoral system in Nigeria is alarming, saying, “After a false declaration of results, making losers winners and winners losers, the victim of the cheating is advised to go to court, which is a court of corruption rather than a court of justice.“

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Sanwo-Olu Unveils Leather Hub, Eyes 10,000 Jobs

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Lagos State Governor, Sanwo-Olu, on Saturday inaugurated a state-of-the-art leather processing and manufacturing hub in Mushin, projected to create 10,000 direct jobs and generate over $250 million in annual export turnover when fully operational.

In a press release sent to PUNCH Online, the governor said the facility was formally inaugurated on Saturday by the First Lady, Senator Oluremi Tinubu, during her three-day official visit to Lagos.

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He added that the hub was named in her honour to recognise her grassroots initiatives in social investment and economic empowerment, with 70 per cent of its employment slots reserved for women and youths.

The hub is equipped with modern machinery to support Nano, Micro, Small, and Medium Enterprises (NMSMEs), enabling mass production of shoes, bags, belts, packaging materials, and other leather products.

READ ALSO:I Will Snub Gov Sanwo-Olu Again – Mr Macaroni

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It is designed to ease production bottlenecks, scale operations, and position Lagos as the leather logistics capital of West Africa.

Speaking at the inauguration, Tinubu described the hub as a “trailblazing project” aligned with President Bola Tinubu’s Renewed Hope Agenda to diversify Nigeria’s economy through industrialisation, manufacturing, and innovation.

The Lagos State Leather Hub in Mushin, formally commissioned by the First Lady of Nigeria, Senator Oluremi Tinubu, on Saturday, 23 August 2025.
Leatherwork is a traditional craft that has stood the test of time. This facility will empower artisans, scale up leather goods production, and enable them to compete confidently in both local and international markets,” she said, urging entrepreneurs to dedicate themselves to excellence and continuous learning.

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Sanwo-Olu said the project would provide training and start-up support to over 150,000 artisans, boost the local economy, attract investments, and strengthen trade links with fashion districts, e-commerce platforms, and future rail services.

READ ALSO:Sanwo-Olu Unveils Bus Terminal, Slashes Red Line Fares By 30%

“Hides and skins that once left our shores unprocessed will now be transformed here in Lagos into world-class footwear, garments, and accessories proudly stamped ‘Made in Lagos, Made in Nigeria’,” the governor said.

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He pledged to expand the facility through transparent regulation and continuous infrastructure upgrades, adding: “True dividends of democracy are best felt when they reach the cobbler in Mushin, the tanner in Oko-Oba, and the young fashion designer in Yaba.”

Commissioner for Wealth Creation and Employment, Akinyemi Ajigbotafe, said the hub would lower production costs and raise quality standards, positioning Lagos-made leather products for dominance in both local and export markets.

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