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VC Explains Sources of Projects in IMSU

Updated on June, 26th, 2015

The attention of the Authorities of Imo State university, Owerri has been drawn to a misrepresentation of facts published in an Owerri based local tabloid Announcer Express of Monday, March 16th, 2015 on the above subject matter.

It will be recalled that the Correspondents' Chapel of the Nigeria Union of Journalists (NUJ), Imo State Council paid a familiarization visit to the University on Thursday 26th February, 2015.

During the visit, the Vice-Chancellor directed the Public Relations Officer and Special Assistant to the Vice-Chancellor to take the correspondents on a guided tour of both infrastructure and facilities on Campus. The visitors were amazed at the level of transformation that has occurred in the University during the short period of the assumption of office of the Vice-Chancellor and within the tenure of the present Imo State Government.

At the end of the tour, the Vice-Chancellor addressed the media Correspondents, where he said inter-alia: "Since the relocation of the University to its present site, no government, be it civilian or military has shown any interest in the development of the University, except the present administration of His Excellency Owelle Rochas Okorocha OON That the infrastructural projects on campus were from four sources: a) the State Government; b) intervention from Banks such as Diamond, First Bank; c) friends of the University like Peter Sunday Owunna Memorial Foundation and TETFund.

Acceptable that the Federal Government is only husbanding the TETFund, it has grossly abused this role by directing the Fund to the establishment of nine (9) new Universities against the policy of its establishment.

Allocation of Funds for projects in the University has an established format as against what obtains in the sharing of money between Federal Government, States and Local Government from the Federation account.

Federal Government would rather have used its capital grants for the purpose of establishing the new Universities than depleting the TETFund, which were monies collected from the after profit tax of Industries and Companies to help in the development of tertiary education which serves as a pool for its operation.

For the avoidance of any shadow of doubt, TETFund was established through an Act in 2011 to take care of the needs of Tertiary Educational Institutions, to ameliorate infrastructural deficiencies, impediments to teaching, learning and research.

The Fund as established shall be managed by a Board of Trustees whose functions are: Monitor and ensure collection of education tax by the Service and ensure transfer of same to the Fund; receive requests and approve admittable projects after due consideration. Ensure disbursement of funds to various public tertiary educational institutions in Nigeria. Furthermore, the Board of Trustees shall administer the tax imposed by this Act and disburse the amount in the Fund to Federal and State Tertiary Educational Institutions specifically for the provision or maintenance of: a) essential physical infrastructure for teaching and learning;
b) instructional material and equipment;
c) research and publication;
d) academic staff training and development, and
e) any other need which in the opinion of the Board of Trustees, is critical and essential for the improvement of quality and maintenance of standards in the higher educational institution.

The TETFund and its allocation of funds is not a part of the Federation account; rather it is monies collect from the after profit tax of Industries and Companies.

As facts are sacred while comments are free, it will be quite disingenuous, disrespectful and a distortion of facts for any tabloid to quote the Vice-Chancellor out of context and publish same just to score "cheap" political points or to pitch the Vice-Chancellor against the Visitor to the University is to say the least unacceptable to the Authorities of the University and against civilized conduct.

We wish to seize this medium to tell all tabloids both local and National to send reporters or correspondents who can interpret speeches well to events in the University so as to forestall a repeat of the embarrassment meted to the Vice-Chancellor by Announcer Express.

His Excellency, the Governor of Imo State and Visitor to Imo State University is satisfied with the Administrative ingenuity and prowess of the Vice-Chancellor and has shown at all times that he has implicit confidence in him and in the running of the University. Imo State is getting better. IMSU is indeed getting better.

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