The Federal Government has stated that it had disbursed N3.8 billion to stranded Nigerian scholars abroad in previous years.
Sonny Echono, Executive Secretary of the Tertiary Education Trust Fund, made this statement on Thursday in Abuja while meeting with the House of Representatives Committee on TETFund.
He added that the Fund had assisted 1,500 scholars with a total of N3.8 billion granted.
When asked about the alleged delay in scholarship payments, Echono emphasised that many scholars from countries such as the United Kingdom, Malaysia, and others expressed worry owing to the recent surge in foreign exchange rates.
These issues were raised with the National Assembly, the Presidential Villa, the Ministry of Education, and even TETFund.
“We were happy that the response was very positive and that was why we were able to secure the President’s approval and do what we called the bail out or assistance.
“We did observe that part of the challenge”, he said.
“In the past, each time we send funding for the institutions, we send money directly to the schools and it is the responsibility of the institutions to now remit to the students.
“However, for illegitimate and legitimate reasons, many of the institutions came back to us and complained that it takes a whole lot of time to process the transfers to central bank.
“But we now pay directly to the institution as part of our intervention”, he added.
Echono also revealed that before now, Nigeria was not doing well in the area of research grants.
He, however, added that efforts had been made as Nigeria had now moved from the 9th position to the 7th position in the African research grant.