Exchange Rate: TETFund Scholars Abroad Seek Bailout From FG


An association of Nigerian students in Malaysia and other foreign countries under the Tertiary Education Trust Fund (TETFund) Academic Staff Training and Development (AST&D) has written to the Federal Government of Nigeria seeking financial bailouts to ameliorate the distress arising from the exorbitant rate of the foreign exchanges.

The scholars appealed to TETFund to implement an upward review of their scholarship fund template to reflect the current economic realities.

In a letter addressed to the Executive Secretary of TETFund, Sonny Echono, a copy which was made available to the press by the acting Secretary, Engr Jimoh Ajani, the scholars said that fluctuations in the exchange rate, occasioned by the recent floating of the Naira and the continuous impact of COVID-19, have affected their upkeep.

The scholars appealed to TETFund to review their scholarship fund template to reflect the current economic realities and grant them a bailout that will enable the successful and timely completion of their programs.

“With a high sense of humility, patriotism, and respect, the TETFund scholars in various institutions in Malaysia under the TETFund Academic Staff Training and Development (AST&D) intervention write to make a passionate appeal for a bailout to ameliorate the financial constraints occasioned by the fluctuations in the exchange rate due to the new CBN’s Naira floating policy, the impact of the pandemic, and the current economic reality,” the scholars said.

The group, through its leader, Abdullahi Ayuba Konkyel has equally written a letter to the Speaker of the House of Representatives, Rt. Hon. Abbas Tajudeen, Ph.D, and the Nigerian Minister of Education, Prof. Tahir Mamman to seek their collective intervention to facilitate expeditious accedence to their demand for improved living conditions and general wellness.

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