Naira devaluation : TETFund’s scholars in Malaysia, India, others to get ‘pay rise’

The Tertiary Education Trust Fund (TETFund) says it has proposed an increase in the rates of living expenses to its scholars in Malaysia, India, among others, as a result of decline in the value of naira.

TETFund, in statement on Thursday, in response to recent appeals by the scholars, said the already incurred shortfalls in living expenses of the scholars are also being computed for payment.

News Agency reports that chairman of TETFund scholars in Malaysia, Abdullahi Konkiyel, had recently appealed for TETFund’s bailout following the effect the current poor value of naira is having on the lecturers.

But the TETFund’s statement signed by its Acting Director of Public Affairs, Abdulmumin Oniyangi, assured the scholars that there is no cause of alarm.

The statement titled ‘ TETFund Addressing Plight of Nigerian Lecturers on its Foreign Scholarship,’ read in full :

“The Tertiary Education Trust Fund (TETFund) wishes to address recent concerns raised by some stakeholders over the plight of some Nigerian lecturers studying in foreign institutions under the TETFund Scholarship for Academic Staff (TSAS) programme, who are requesting for bailout by the Fund to cater for shortfalls in their living expenses occasioned by fluctuations in Foreign Exchange.

The Fund specifically notes appeals from scholars in Malaysia, India and Kenya, some of whom have written to the Honourable Minister of Education and the Fund, requesting for intervention to enable them complete their studies in their respective institutions.

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 tuition to approved foreign institutions of study and living expenses into scholars’ foreign accounts upon receipt of progress report on academic standing