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Nwajuba sits on N463bn at TETFUND as Falana urges ASUU to access fund

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The refusal of tertiary institutions in Nigeria to access the locked-up N463 bn in the coffers of Tertiary Education Trust fund domiciled at the Central bank of Nigeria has drawn the ire of foremost human Rights Lawyer,Femi Fanala(SAN) as he charges the Accademic Staff Union of University(ASUU) to speed up action to access same.

The Ekiti state-born Lawyer made this known recently while addressing the 20th Delegates Conference of ASUU at the Tafawa Belewa University in Bauchi.

The human Right lawyer went on calling for the quick disbursement of the Intervention fund in the Central Bank of Nigeria’s vault to the benefiting institutions-Universities,Polytechnics and Colleges of Education towards greater development of higher education in the country..

He commended the stakeholders who midwifed the TETFUND Act of 1992 making companies operating in Nigeria to contribute education tax of 2 percent from their annual profits for use in funding publicly owned tertiary Institutions in Nigeria

According to Falana,there is N250billion yet to be accessed in TETFUND account between 2011 and 2016, and another N213.4billion outstanding in 2017 . Continuing, he said that 78 Public Universities in the country are entitled to 50 percent of the N463 billion TETFUND account

However,Mr Falana urges the board of TETFUND to take a second look at the guidelines for accessing the Interventionist fund while calling on the ASUU to monitor its use in their institutions.

You may recall that the Ehime-Mbano, Imo state-born Professional and ex- federal legislator,Bar Emeka Nwajiuba is presently saddled with the responsibility of seeing the huge resources available to the interventionist agency towards developing the nation’s tertiary education deplored effectively.

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