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N100bn funds lies idle at TETFUND, says BOT chairman


Tertiary Education Trust Fund (TETFUND) has urged federal and states tertiary institutions to come up with proper documentations in order to benefit from over N100 billion lying idle in the agency as lack of funds mars Nigeria’s education sector.

This statement was disclosed today, at TETFUND’s two day interactive workshop organised for vice chancellors, rectors and provosts of tertiary institutions in South West region at the University of Lagos.

In his address, the Chairman, Board of Trustee, TETFUND, Dr. Musa Babayo, who was represented by Dr. Hana Kolawole said: “Incomplete documentation on the part of institutions applying for the fund is one of the reasons these funds are yet to be accessed.”

According to him, tertiary institutions either fail to file in the documentation required to claim the fund or started the process but never concluded it.

Babayo, who lamented the lack of fund in our institutions, said that if only stakeholders could follow due process and access this fund, many of the strikes engaged by unions would not have taken place.

Meanwhile, the Vice Chancellor, University of Lagos, Prof. Rahamon Ade Bello and the  Pro Chancellor, Prof.Jerry Gana in their remarks urged the education stakeholders to follow due process in order to access the fund.

Dignitaries at the opening ceremony of the workshop are: Dr. Sunny Kuku, National President, UNILAG Alumni, UNILAG Registrar, Dr Folasade Ipaye, Editor-in-Chief, Vanguard Media Limited and Member of the Governing Council, UNILAG, Mr Gbenga Adefaye among others.


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