The Tertiary Education Trust Fund (TETFUND) has revealed that over 137 students sponsored abroad absconded after completing their studies.

The Executive Secretary, Sonny Echono, made this known on Tuesday when he appeared before the House of Representatives Ad-hoc committee investigating the alleged mismanagement of N2.3tn tertiary education tax by TETFund.

Echono said, “Some of the scholars that have been sponsored, unpatriotically when they go, they enjoy our scholarship, acquire a higher degree, then refuse to come back, it has become a major crisis.

The scholarship requires that you will come back. It is required that you have a guarantor and in many cases, the guarantor has suffered undue hardship because when you disappear, we hold the guarantor to pay all the money expended on your behalf but that has not been effective.”

He added that, “We believe that in a system where we work with our embassies and the institutions, we can enforce the repayment for those who insist they will not come back.”

TETfund Secretary said, “We will write to the embassies and they will make it available to those countries and they will not be able to get jobs. They will be seen as fugitives of law from their countries.

“We may have to take that hard stand because the numbers are alarming. We just checked about 40 institutions and over 137 absconders and the review is ongoing.

“It is a huge number that we cannot afford and so we will be seeking your support to strengthen some of the existing regulations to ensure that those who benefit from this programme must come back.

“We are not against people looking for greener pastures but do so on your own, not through our scholarship or our sponsorship.”

Sonny Echono the agency may suspend foreign scholarship due to the exchange rate crisis.

“We operate a system where our forex is being sold on our behalf at an official rate and we apply like anybody else to get it, sometimes it leads to additional cost.

“Currently as I speak, we are in consultations with all our stakeholders to suspend foreign training for a year or two.

“This is because of the recent exchange rate adjustments. We are unable to continue based on our disbursement guidelines.

“The money we allocated in naira cannot cover the dollar requirement for training. For those who are currently there, we now need more naira to pay for the dollar that is required for their annual fees. We are trying to put a hold.”

He added that most of the training will now be done locally through “our experienced, first-generation universities and other specialised universities” in the country.

“This way we can retain our resources in-house and cope with the change of foreign exchange variation,” TETFUND Secretary said.

Mr Sonny Echono also, revealed that the federal government was owing the agency the sum of N323 billion out of which it has repaid N46 billion.

The agency further denied the allegations that TETFund mismanaged the N2.3tn fund.