Thursday, November 28, 2024 -The Tertiary Education Trust Fund (TETFund) has announced the suspension of the foreign component of its TETFund Scholarship for Academic Staff (TSAS) Intervention, effective January 1, 2025.
This decision, outlined in a letter dated November 25, 2024, and signed
by TETFund's Executive Secretary, Arc. Sonny Echono, cites the escalating cost
of overseas training and an increasing number of scholars absconding as reasons
for the suspension. The letter was addressed to heads of beneficiary
institutions, including vice chancellors, rectors, and provosts.
"In response to the current excessive cost of training in foreign
institutions, coupled with the high rate of abscondment of scholars, the Board
of Trustees of the Fund has approved the suspension of the foreign component of
the TSAS Intervention," the letter stated.
TETFund has directed beneficiary institutions to prioritize local
training within Nigerian universities, polytechnics, and colleges of education.
This shift, according to Echono, is aimed at reducing pressure on foreign
exchange, enhancing local capacity, and significantly increasing the number of
beneficiaries.
“It is expected that this will conserve and reduce pressure on the
foreign exchange rate, boost investment and local capacity in our institutions
while significantly increasing the number of beneficiaries of the
intervention,” Echono wrote.
However, scholars already enrolled in foreign institutions under the TSAS programme will continue to receive sponsorship until they complete their studies, ensuring a smooth transition for ongoing commitments.
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