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FG orders tertiary institutions to submit reports on unused TETFund funds within 30 days
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The Federal Government has directed all tertiary institutions to submit reconciled reports of unutilised funds received from the Tertiary Education Trust Fund (TETFund) within 30 days.
According to the government, the reconciled reports will undergo joint verification after submission to ensure transparency and accountability in the utilisation of the intervention funds.
Minister of Education, Dr. Tunji Alausa, gave the directive during a meeting with heads of federal tertiary institutions, bursars, and procurement directors on unutilised TETFund allocations, held in Abuja on Thursday.
Alausa stated that following the meeting, the Federal Ministry of Education will issue new directives to ensure more effective use of TETFund resources across the nation’s tertiary institutions.
He emphasized the central role of education in national development, saying, “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.”
The minister noted that capacity-building programmes will be introduced to strengthen project management, compliance, and reporting, alongside mentorship initiatives.
He also hinted of quarterly reviews that will track progress and compliance, with sanctions for institutions that fail to utilise funds effectively.
According to the minister, heads of institutions, bursars, and procurement directors will be held responsible for slippages.
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.”
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SAD! 164 killed, 1,000 Injured In Venezuela
A twin earthquake that was Venezuela’s largest in over a century has killed at least 164 people and destroyed multiple buildings near the capital, where residents searched Thursday for missing relatives.
Venezuela’s strongest earthquake since 1900 sent rescuers and locals clambering in the dark over flattened apartments, hunting for survivors and extracting people from under the ruins.
France, Spain and the US offered to urgently send rescuers after the magnitude 7.2 and 7.5 quakes the United States Geological Survey (USGS) said struck areas west of the capital on Wednesday evening.
The toll has climbed quickly, with interim president Delcy Rodriguez reporting at least 164 dead and over 970 hurt and noting the state of La Guaira north of Caracas was hit hard.
“We have nothing, right now we have nothing, not even the strength or the courage to go in there, just imagine,” Larry Rojas, 49, told AFP, standing in front of a collapsed building where his family was trapped in the La Guaira city of Catia La Mar.
The coastal city was without electricity, and many residents spent the night in the streets or searching for their relatives, according to AFP reporters.
The 7.5-magnitude earthquake was Venezuela’s most powerful since October 29, 1900, when a 7.7-magnitude tremor struck offshore.
After Wednesday’s shock, some residential buildings showed large cracks and fallen walls, with dozens of others destroyed, according to AFP reporters.
“There are people alive in there and no-one is coming to save them,” said a woman waiting for news of her daughter, who was buried in a ruined 12-story building.
France said it would send 85 rescuers and Spain pledged 54 army searchers as nations including China, India, Brazil and the United States also offered help.
Washington was “immediately deploying search and rescue teams, medical resources, and humanitarian assistance to Venezuela,” US Secretary of State Marco Rubio said on Thursday.
Earthquake hits Iranian capital Tehran
The first quake, with an epicenter 21 kilometers (13 miles) west of the coastal town of Moron, occurred at 2204 GMT, USGS said. Within a minute, a 7.5-magnitude quake struck about 45 kilometers away.
“This earthquake was the second event in a doublet. This magnitude 7.5 mainshock was preceded by 39 seconds by a 7.2 foreshock,” USGS said.
Interior Minister Diosdado Cabello asked people to leave their homes, adding that gas supplies had been cut to several buildings as a precaution.
“We have some damaged structures and we don’t want any kind of accident involving gas to occur,” he said.
The Maiquetia International Airport, located near Caracas, was closed due to “serious damage” to its infrastructure, Rodriguez said, with social media posts showing its severely damaged facilities.
The quakes triggered panic in the capital and drove people into the streets, AFP journalists saw.
“The stairs came away, the whole wall cracked. Things fell from the ceiling. It was horrible,” said 54-year-old bank employee Odalis Escalona.
An AFP journalist saw a 22-story building completely destroyed in the capital’s Altamira neighborhood, where people cried out relatives’ names as volunteers climbed over the rubble.
“We need flashlights,” one of them said.
The tremors struck at a depth of 22 kilometers and 10 kilometers, respectively.
They prompted screams of panic at a shopping center in Caracas, an AFP journalist observed.
“It was unbelievable, I don’t even know how long it lasted,” said shopkeeper Heidi Romero, who was on the top floor when the quake struck.
“We went out through the emergency stairs; that’s how they got us out,” the 42-year-old told AFP.
Many more in the capital exited buildings and waited outside before returning to their offices and homes.
Carmen Guedez, 69, was in the same room as her bedridden sister when she felt the jolt.
“It kept getting stronger,” said the administrator, who lives in a hilly middle-class neighborhood above the capital. “I started to see the windows begin to move and then everything shook.”
She described how she “huddled together” with her sister and a neighbor, adding that “we couldn’t get out. The neighbors are still out on the street.”
The states of Trujillo, Carabobo, Miranda and La Guaira were the hardest hit, according to Cabello.
The quake was felt as far away as the Colombian capital of Bogota, where alarms sounded and some residents evacuated buildings as a precaution.
Freddy Tovar, coordinator of Colombia’s National Seismological Network, said they had received more than 200 reports of tremors nationwide.
“The conditions of this seismic event mean that some aftershocks may occur, which could also be widely felt across Colombian territory,” he said in a video posted on X.
The strongest tremors in earthquake-prone Venezuela’s recent history occurred in the northeast in 1997, killing 73 people, and in Caracas in 1967, when 236 people died.
AFP
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FG freezes bank accounts of confirmed terrorism financiers(See list)
The Federal Government has directed banks and other financial institutions across the country to immediately comply with sanctions against individuals and organisations linked to terrorism financing by freezing their assets and reporting suspicious transactions.
The directive followed recent sanctions imposed by the United States on a Nigerian man, Mukhtar Adamu Muhammad, and three Bureau De Change operators accused of helping move funds for the Islamic State group.
The action formed part of a wider operation targeting terror financing networks operating in Europe, the Middle East and West Africa.
Authorities disclosed that the affected BDC companies are Generation Currency Bureau De Change Limited, Nine to Nine Exchange Bureau De Change Limited and Manhattan Bureau De Change Limited.
The firms were accused of taking part in financial transactions connected to terrorist activities.
Reacting to the development, the Nigerian Sanctions Committee said all financial institutions and designated non-financial businesses must fully obey existing sanctions rules.
The committee directed them to freeze assets linked to sanctioned persons, file reports on suspicious transactions and notify the relevant authorities whenever matches are discovered.
The committee stated that Nigeria would not allow terrorists or those funding them to make use of the country’s financial system.
It added that the action taken by the United States supports measures already introduced by Nigeria and strengthens efforts to block the flow of money to terrorist groups.
The committee also noted that Nigeria had earlier expanded its sanctions list on June 18, 2026, by adding six individuals and one company.
Those listed include Ibrahim Yakubu Ogirima, Adamu Chiroma, Ibrahim Abubakar, Abdullahi Umar Usman, Babangida Muhammed, Adamu Hammajam and Abbal Bako & Sons Bureau De Change Limited.
According to the committee, the sanctions were based on intelligence reports, financial investigations and assessments carried out by different government agencies.
The investigations reportedly found grounds to believe that the affected individuals and entities provided financial support and assistance to the Islamic State West Africa Province (ISWAP) and related terrorist networks.
The committee praised the Federal Ministry of Justice and the Office of the National Security Adviser for their involvement in the sanctions process.
It also commended the Central Bank of Nigeria, the Department of State Services, the Economic and Financial Crimes Commission and the Nigerian Financial Intelligence Unit for their roles in disrupting financial channels used by terrorist groups.
It said the agencies had worked together to stop terrorists from accessing funds and resources needed to sustain their operations.
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DAY 12 of Projects Commissioning in the FCT: Watch Arterial Road N16 – Ring Road Il Intersection linking Jahi to Gwarimpa District
This is the road.
Interchange and road at Arterial Road N16 – Ring Road Il Intersection linking Jahi District to Gwarimpa District.
#FCTRenewedHope
#FCTProjectsCommissioning
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