With effect from the 2023–2024 academic year, the Tertiary Education Trust Fund, or TETFund, has suggested raising the rates at which Nigerian academics studying abroad are reimbursed for living expenses under the TETFund Scholarship for Academic Staff, or TSAS, programme.
The planned increase, according to TETFund, was justified by the steadily rising cost of living index in other nations.
This information was provided by Sonny Echono, the Executive Secretary of TETFund, in response to recent worries expressed by various stakeholders regarding the situation facing Nigerian teachers enrolled in foreign universities.
The researchers were demanding a rescue from the Fund to cover the deficits in their living expenses caused by changes in foreign exchange.
In letters to the Minister of Education and the Fund, certain scholars from Malaysia, India, and Kenya asked for assistance so they may finish their degrees at their respective universities.
However, TETFund advised individuals impacted to wait while “we conclude individual computations and obtain necessary approvals for the extra budgetary expenditure.”
According to the Fund’s Acting Director of Public Affairs, Abdulmumin Oniyangi, “It is instructive to note that upon the introduction of the TSAS programme in 2008, full tuition and living expenses of scholars were disbursed directly by TETFund to their employers, i.e. the Fund’s Beneficiary Institutions, who were expected as part of TETFund guidelines to warehouse approved training cost in respect of foreign scholarship in domiciliary accounts; and then disburse
“However, the method of payout was examined in August 2019 in response to concerns from numerous scholars and some observations on Beneficiary Institutions’ non-compliance with specified requirements. After the review, TETFund started paying foreign training institutions directly for tuition to reduce the impact of exchange rate fluctuations. However, living expenses continued to be paid to Beneficiary Institutions for storage in domiciliary accounts prior to transfer to scholars in order to safeguard the scholarship bond made with their employers. Based on the aforementioned, TETFund has paid all impacted scholars’ tuition on time, as well as tuition to other universities where TETFund scholars take part in other programmes.
It is important to note that some Beneficiary Institutions continued to keep these funds in local currency notwithstanding the necessity to operate domiciliary accounts for living costs of foreign academics.
As a result of not adhering to this criterion, scholars frequently experience financial hardship as a result of the practise of maintaining their stipends in local currency. In order to correct this anomaly, the TETFund began paying living expenses directly to scholars beginning in 2022, with the Fund bearing the cost of fluctuating exchange rates from the start of the programme until the end. To protect its academics and guarantee smooth academic activities, the TETFund has also signed Memoranda of Understanding with a few overseas institutions.
“While it is regretful that scholars from Beneficiary Institutions that do not open domiciliary accounts are most impacted by the current impasse, the Fund has decided not to penalise the scholars for the noncompliance by their home institutions. As a result, the Fund is currently computing the deficits in the scholars’ living expenditures. This will be reimbursed from subsequent allocations of the impacted Beneficiary Institutions and provided directly to qualified scholars.
“In addition, the Management of TETFund has also proposed an increase in the rates of living expenses to scholars with effect from the 2023/2024 Academic Year, considering the steadily rising cost of living index in these foreign countries.
“This exercise is still underway, so we ask impacted scholars to be patient as we complete individual calculations and secure the required clearances for the extra-budgetary expense.
The Executive Secretary of the TETFund met virtually with the affected students to assuage their fears, and management choices to break the deadlock have been announced in accordance with those decisions.
“We sincerely thank all of our partners, especially the media, who have shown concern about the matter, and we take this chance to tell everyone that President Bola Ahmed Tinubu understands their hardship and has demanded a prompt settlement. The Fund is also committed to carrying out the Academic Staff Training programme with a strong sense of accountability, openness, and responsibility.
