If recipient institutions do not fulfill performance standards or mismanage allotted funds, they face being delisted from the Tertiary Education Trust Fund’s (TETFund) support programs, according to the fund’s warning.
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This was stated by Sonny Echono, the executive secretary of TETFund, during a one-day strategic engagement that took place on Monday in Abuja with the heads of institutions, bursars, and procurement of the beneficiary institutions of the Fund.
He insisted that the policy’s true purpose was to protect the legitimacy and effectiveness of TETFund’s operations, rather than to punish.
Institutions run the danger of being delisted as TETFund beneficiary institutions if they repeatedly do not access, use, or retire funds appropriately, or if they do not meet enrollment and academic performance requirements, he said.
Echono added that the Fund would only give money to organizations that demonstrate a strong dedication to good governance, openness, and accountability.
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According to the head of TETFund, the strategic partnership would help improve project execution, raise educational standards, and solve persistent problems in Nigeria’s higher education system.