By Joshua Egbodo
Abuja
Director General of the Industrial Trust Fund (ITF), Mr. Joseph Ari, has disclosed that the agency has in the last seven years, paid the sum of N13.4 billion to students under the Students Industrial Work Experience Scheme (SIWES).
According to him, the amount was used to cater for students and supervisory allowances, adding however that there was need for a separate budgetary envelop for the Fund, in order for to perform optimally.
Addressing members of the House Committee on Industry, led by Hon. Abubakar Moriki, yesterday, which was investigating the alleged mismanagement of funds meant for the SIWES between 2010 and 2017, by the ITF, the DG explained that there have been shortfall of funds of between N1.1 billion and N2 billion during the period under review.
Moriki had explained earlier that the investigative hearing was necessitated by allegations that the management of ITF had not been transparent in funds management, resulting in students not being paid their allowances as, and when due.
He said SIWES is a programme initiated to bridge the gap between theory and practical, stressing that “the scheme is as important as the practical knowledge that we acquire.”
The DG gave breakdown of the allowances that N1.105billion was paid to 88,335 students in 2010; N1.123billion for 81,355 in 2011; N1.176billion for 101,665 in 2012 and N3.067billion for 270,035 students in 2013.
Also, N2.191billion was for 171,667 students in 2014; N1.122billion for 83,365 in 2015; N1.060billion for 97,492 in 2016 and N2.555billion for 132,847 students in 2017.
