Dare Babalola
The Federal Government has mandated tertiary institutions to return unutilised intervention funds from the Tertiary Education Trust Fund.
This order was issued by the Minister of Education, Dr Tunji Alausa, during a meeting with heads of institutions, on Thursday, giving an ultimatum of 30 days.
While decrying that bottlenecks prevented the utilisation of the resources, Alausa stressed that the ministry has been faced with a dilemma over the issue of allocations that are not being put to good use.
“Institutions must submit reconciled reports of all unutilised funds within 30 days, which will be jointly verified. Unused funds may be redirected to priority projects, and carrying them over without strong justification will no longer be allowed. Procurement plans must align with approved interventions, and approvals should be fast-tracked to prevent delays,” Alausa said.
The minister also announced that capacity-building programs would be introduced to strengthen project management, compliance, and reporting, alongside mentorship initiatives. Quarterly reviews will track progress and compliance, with sanctions for institutions that fail to utilise funds effectively.
He added that transparency will be enhanced through a public dashboard showing disbursement and utilisation data, and institutions will be required to publish project progress reports.
“TETFund must lead with professionalism, enforce compliance, and ensure transparency. Institutional heads should drive urgency and accountability, while bursars, procurement officers, and project coordinators must plan and report diligently.
“Auditors and oversight bodies are expected to monitor activities and flag irregularities. All stakeholders must uphold a sense of stewardship, recognising that every TETFund naira represents public trust,” Alausa said.
TETFund has repeatedly expressed concern over the significant amount of unused allocations by higher institutions in Nigeria.
