The Federal Government has directed tertiary institutions to provide reconciled accounts of all unspent allocations from the Tertiary Education Trust Fund (TETFund) within 30 days.
According to the government, the reconciled submissions will be “jointly verified” at the conclusion of the process.
Minister of State for Education, Olatunji Alausa, disclosed this during a meeting with heads of federal tertiary institutions, bursars, and procurement officers on idle funds yesterday in Abuja.
He explained that after the meeting, the Federal Ministry of Education would release clear instructions to ensure efficient management of TETFund resources.
He said: “Education remains the bedrock of national development. As a nation, we commit substantial resources to strengthening infrastructure, human capital, research, and the learning environment across our tertiary institutions. TETFund plays a pivotal role as the vehicle through which the Federal Government channels support to our universities, polytechnics, and colleges of education.”
“However, one recurring challenge that has continued to undermine this investment is the existence of unutilised balances — funds released for specific projects or interventions that are either not deployed on time or not fully expended before new allocations are made.”
Over time, these idle funds represent lost opportunities — resources that could have improved laboratories, classrooms, ICT facilities, research centres, faculty development, and more, but did not, due to process delays, weak absorptive capacity, or compliance and accountability gaps.”
“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 further said the government would roll out training programmes to strengthen project management, compliance, and reporting, while also providing mentorship initiatives.
FG to sanction schools over idle TETFund allocations
The minister also indicated that the government would conduct quarterly reviews to monitor progress and apply sanctions on institutions failing to use funds properly.
According to him, vice-chancellors, rectors, bursars, and procurement officers would be held responsible for lapses.
Alausa said: “Finally, transparency will be enhanced through a public dashboard showing disbursement and utilisation data, and institutions will be required to publish project progress reports.
“The success of this initiative depends on strong collaboration. 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.
“Let us seize this moment to turn the narrative around. Let unutilised balances no longer be a recurring embarrassment, but rather the catalyst for improved governance, greater productivity, and transformative impact in our tertiary education system.
“Our students, faculty, and the future of our nation depend on it. With your cooperation, sincerity, and commitment, I am confident that every fund allocated will translate into tangible outcomes — classrooms built, laboratories equipped, research enhanced, faculty developed, and students empowered.”
