The Tertiary Education Trust Fund, TETFund, is taking steps to address the challenges faced by Nigerian lecturers studying in foreign institutions under the TETfund Scholarship for Academic Staff (TSAS) programs. TETFund recognizes the difficulties experienced by these scholars and is actively working towards providing support.
According to Abdulmumin Oniyangi, the Acting Director of Public Affairs at TETFund, the lecturers have requested a bailout to cover the shortfalls in their living expenses caused by fluctuations in foreign exchange rates.
TETFund has received appeals from scholars studying in Malaysia, India, and Kenya, who have written to the Minister of Education and the fund, seeking assistance to enable them to complete their studies.
Changes in Disbursement Method
Initially, since the inception of the TSAS program in 2008, TETFund disbursed full tuition and living expenses directly to the beneficiary institutions. The institutions were expected to maintain the approved training cost in domiciliary accounts and transfer the tuition fees to the foreign institutions of study. Living expenses were disbursed to the scholars’ foreign accounts upon submission of progress reports on academic standing.
However, due to complaints from scholars and observations of non-compliance with guidelines by beneficiary institutions, TETFund revised its disbursement method in August 2019.
Currently, TETFund directly pays the tuition fees to the foreign training institutions to mitigate the impact of exchange rate fluctuations. However, living expenses are still disbursed to the institutions, who retain the funds in domiciliary accounts before transferring them to the scholars.
This change in approach aims to protect the scholarship bond signed between TETFund and the scholars’ employers.
Addressing Currency Volatility
An issue that has arisen is the non-compliance of some beneficiary institutions in maintaining domiciliary accounts for scholars’ living expenses. Instead, these funds are kept in local currency, leaving the scholars vulnerable to fluctuations in foreign exchange rates.
To rectify this, TETFund has started making living expenses payments directly to scholars after the first year of their program. The fund now bears the burden of any exchange rate variations, aiming to alleviate the scholars’ financial concerns.
Safeguarding Scholars and Proposed Increases
TETFund has also signed Memoranda of Understanding (MoU) with foreign institutions to ensure the welfare and well-being of its scholars. These agreements aim to guarantee uninterrupted academic activities.
Recognizing the challenges faced by scholars from beneficiary institutions who fail to open domiciliary accounts, TETFund has taken the stance of not punishing the scholars for their institutions’ non-compliance. The fund is currently calculating the shortfalls in living expenses and will directly compensate eligible scholars. The shortfall amounts will be deducted from subsequent allocations of the affected beneficiary institutions.
Additionally, considering the rising cost of living in these foreign countries, TETFund’s management has proposed an increase in the rates of living expenses starting from the 2023/2024 academic year.
TETFund appeals to affected scholars for patience as they finalize individual computations and obtain the necessary approvals for this extra budgetary expenditure.
As TETFund addresses the plight of Nigerian lecturers on foreign scholarships, it showcases its commitment to supporting the academic development of lecturers and ensuring their successful completion of their studies.
