The Senate Committee on Anti-Corruption and Financial Crimes has expressed its commitment to increasing the budget allocation for the Economic and Financial Crimes Commission (EFCC) to support its anti-corruption mandate.

Senator Emmanuel Udende, chairman of the committee, made this statement during an oversight visit to the EFCC headquarters in Abuja on Monday.

Udende emphasised that the EFCC’s funding is essential to effectively combat emerging financial crimes.

“When the EFCC chairman explains the need for software to counter virtual and cryptocurrency fraud valued at around ₦3.4 billion, it becomes clear that more funding is crucial,” Udende said, adding that enhanced budgetary support would enable the agency to improve its operations.

He also proposed that the EFCC receive a percentage of its recovered assets to sustain its activities, similar to the Nigeria Customs Service, which retains a percentage of its seizures.

“Like Customs, the EFCC could benefit from a share of the proceeds they recover annually, helping them work more sustainably,” he added.

Ola Olukoyede, chairman, EFCC, called on the National Assembly to increase the commission’s 2025 budget by 300 percent to enable it to acquire advanced technology for tackling illicit financial flows and economic sabotage.

He stressed that inadequate funding is a significant barrier, noting that a 300 percent budget increase is necessary for the EFCC to fulfil its duties effectively.

Olukoyede also appealed to lawmakers to support efforts to improve the agency’s public perception.

The EFCC is currently investigating the extractive industry, and Olukoyede indicated that those implicated would soon face charges. He expressed concern over the negative impact of corruption on Nigeria and vowed that the EFCC would pursue cases of embezzlement and misuse of government funds.

Additionally, Olukoyede announced that the EFCC now has access to the Integrated Personnel and Payroll Information System (IPPIS), enabling the agency to monitor disbursements and ensure appropriate use of funds.

He informed senators that the EFCC would also monitor constituency projects to ensure transparency.

“We now collaborate with the Accountant General’s Office and have access to IPPIS, allowing us to track fund allocations. Distinguished senators, we will also oversee your constituency projects and hope for your support in championing this cause,” he said

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The Tertiary Education Trust Fund (TETFund) has announced that the education tax revenue for 2024 has hit N1.5 trillion. TETFund Executive Secretary Sonny Echono made the disclosure at the meeting of heads of TETFund beneficiary institutions in Abuja on Monday.

He said the figure is what the fund has made over the years, attributing the achievement to the increase in education tax from 2.5 per cent to 3 per cent. “The increasing the education tax last year from 2.5 per cent to 3 per cent represented a significant stride for TETFund.

“This change culminated in a record-breaking education tax collection of approximately N1.5 trillion so far this year. It reinforces the government’s dedication to strengthening Nigeria’s educational framework.

“The revenue generated from the education tax plays a significant role in maintaining and improving the infrastructure of our institutions, enhancing academic programmes, and promoting accessibility for students from diverse backgrounds.

“We now enter the 2025 budget cycle with a stronger foundation, one that allows us to enhance our impact across the country’s tertiary institutions.”

Echono said the meeting with heads of tertiary institutions was a shared commitment to establishing a harmonious working relationship with relevant stakeholders, fostering an environment where efforts can be aligned to reposition TETFund for optimal performance.

“As Heads of TETFund beneficiary institutions, you play a pivotal role in actualising the mandate of the Fund. It is crucial that we engage constructively to set a clear course for the Fund’s direction and operational priorities.

“TETFund’s purpose is to empower our nation’s human capital, addressing the urgent need for capable, skilled professionals across all sectors,” he said.

Permanent Secretary, Federal Ministry of Education, Dr. Nasir Gwarzo, in his speech, stressed the importance of strengthened accountability and transparency in managing TETFund disbursements.

“We must be reminded that the future of Nigeria’s educational system is in our hands. As leaders, we bear the responsibility of ensuring that our institutions remain beacons of learning, innovation, and integrity.

“Today’s interactive engagement is an opportunity to build on the strides we have made, to reflect on areas that need improvement, and to chart a way forward that will strengthen not only our individual institutions, but the entire Nigerian educational system,” he said.

The Chairman, Senate Committee on Tertiary Institutions and TETFund, Senator Muntari Dandutse, in his remarks, stressed the importance of tertiary education to the growth and development of any nation.

He said, “In Nigeria, our higher education sector is not just an academic pursuit; it is a social, cultural, and economic lifeline. The universities, polytechnics, and colleges of education across the country play a central role in providing access to quality education and preparing the youth for the demands of an increasingly complex and competitive global economy.”

He said the Committee is deeply committed to ensuring that institutions are adequately supported and funded. “This is why TETFund remains a critical partner in realising the aspirations of the Nigerian government in the education sector.

“However, while TETFund has made remarkable strides in advancing the course of tertiary education, we must acknowledge that there are still numerous challenges to overcome.

“These include inadequate infrastructure, lack of modern teaching facilities, inadequate research funding, and the need for continuous capacity building for both academic and non-academic staff.

“As we embark on the 2025 intervention cycle, it is crucial that we work together, across all levels of government and within the institutions themselves, to ensure that these interventions are effectively utilised and reach the intended outcomes.”

He said the 2025 intervention guidelines present an exciting opportunity for stakeholders to continue making progress in addressing the identified challenges and to foster greater engagement and collaboration between TETFund, the National Assembly, and the heads of tertiary institutions. “The success of our education system is not just dependent on funding but also on effective partnerships,” he said.

As part of its continued efforts at reforming the economy for sustained inclusive economic growth and actualising the presidential target of equipping 70% of Nigerian citizens with digital literacy and skills by the year 2027, the National Information Technology Development Agency (NITDA), through its National Digital Literacy Framework (NDLF), has launched the Digital Literacy For All Initiative(DL4ALL) at the Nassarawa State University, Keffi towards incorporating digital literacy into the institution’s curriculum.

This initiative, launched in collaboration with CISCO and Nasarawa State University Keffi (NSUK), aims to ensure that students at every educational level achieve digital literacy before graduation and to support the presidential target of 70% digital literacy amongst its citizenry by 2027.

Giving his special address at the launching ceremony, the Director General of NITDA, Kashifu Inuwa CCIE, expressed his excitement at the remarkable milestone achievement, that the ecosystem collaboratively made in ensuring inclusive access to digital literacy for all.

“It is a pivotal moment for our relationship of building the ecosystem in terms of bringing the industry, the academia and the government to work together,” he noted.

He stated that with Cisco’s support and government-backed frameworks, digitally proficient graduates who will plug seamlessly into the workforce would be produced rather than mere degree holders.

Citing projections from the World Economic Forum which estimates a global talent shortage of 85 million people by 2030, potentially resulting in 8.5 trillion dollars in unrealised annual revenue, Inuwa averred that Africa and Nigeria in particular, have a tremendous opportunity to fill the gap.

While emphasising the President’s directive of driving economic transformation through technology and skills development, Inuwa stated that it was essential to build a digitally skilled workforce that would accelerate the country’s economic growth and development.

“In a world we live in today where digital is a lifestyle, digital literacy is no longer optional, but it is a necessity because we need it to be included in everything we do. Today, to be digitally included economically, and financially, you need to be digitally literate, so you need to have the fluency to navigate the digital world,” he mentioned.

Speaking on the NDLF that was developed which birthed the DL4ALL initiative, the NITDA DG mentioned that the initiative would help build a digitally savvy population that cuts across all sectors because Information Technology is pervasive.

Enumerating the core competencies of the framework which are; device and software operation, information and data literacy, collaboration and communication, digital content creation, safety, and lastly, problem management, Inuwa asserted that the competencies will allow students to safely and effectively use technology in creating content, managing data, solving problems and collaborations with students in other universities.

He explained that the launch of the DL4ALL at NSUK aligns with Nigeria’s mission of achieving digital sovereignty and would empower students not just to secure jobs but to create them, particularly through entrepreneurship programs that encourage students to start businesses before graduation.

While urging the students to embrace technology as a limitless platform that will inspire them to be innovative and fearless, Inuwa said “I believe with technology, your limitation is your imagination because with the ubiquitous data we have today, unlimited connective and massive processing power, you all can achieve whatsoever you imagine.”

Earlier in her welcome address, Prof Sadaatu Hassan Liman the NSUK Vice Chancellor, described the partnership between the university and NITDA as a transformative one that will allow students at the university to leverage the DL4ALL programme in acquiring digital skills that will enable them to thrive in the 21st-century global landscape.

She noted that the programme is not only empowering the students but positioning the university as a regional leader in Information and Communications Technology and emerging technologies.

“This strategic integration of cutting-edge technologies into our academic offerings will open up a lot of opportunities to our students and staff as well, allowing them to develop critical thinking, problem-solving and innovative mindsets required to navigate the rapidly evolving digital world,” she said.

The highlight of the ceremony was the unveiling of the DL4ALL in NSUK emblem which was done by the dignitaries at the event.