The Tertiary Education Trust Fund has disclosed it has suspended the foreign component of its scholarship scheme, citing high cost and incidents of scholars absconding.
TETFund had in a post on its website lamented the huge number of beneficiary absconding after the completion of scholarship abroad.
Announcing the development ,the Executive Secretary of the Fund, Arc. Sonny Echono said in a letter addressed to heads of beneficiary institutions, including vice chancellors, rectors, and provosts that the suspension will take effect on January 1, 2025.
The letter dated November 25, 2024, reads: “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 TETFund Scholarship for Academic Staff (TSAS) Intervention.
“Beneficiary institutions are accordingly advised to prioritise their training needs for implementation locally (in Nigerian institutions).
“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, however assured that scholars already enrolled in foreign institutions under the programme would continue to receive sponsorship until they complete their respective programmes.
