The Tertiary Education Trust Fund, TETFUND, has revealed ongoing plan after consultations to suspend foreign scholarships as a result of current exchange rate.
This was disclosed by the Executive Secretary of the fund, Mr Sonny Echono, who made this known at a public hearing on alleged missing N2.3 trillion in TETFUND between 2011 to date, organised by an ad-hoc committee of the House of Representatives.
He however, said that the tax accruable to the fund was generated by Federal Inland Revenue Service, FIRS, and the fund’s account was domiciled in the Central Bank of Nigeria, CBN.