- By Femi Alabi
National Association of Nigerian Students (NANS) has urged President Bola Tinubu to order a quick investigation into how N20 billion was expended in the Cement Technology Institute of Nigeria (CTIN) .
The students’ union, who demanded in a press statement said the alleged misuse, diversion and misappropriation of the funds as implied by the EFCC needs to be probed by an independent investigative panel from the presidency
The NANS Senate Leader, Babatunde Akinteye, said, “In June 2016, the Economic and Financial Crimes Commission (EFCC) visited the Bank of Industry in connection with the CTIN’s fund being managed by the bank.
He stated that over N20 billion was contributed as levies on imported cement to CTIN for technical training purposes for over ten years when the country was still importing cement.
The union said, “The Institute was mandated to carry out research and development, promote the adoption of sustainable alternative technologies, and human capacity building in the cement sub-sector of the economy.
“The alleged misuse, diversion, and misappropriation of such strategic funds intended to provide training and development opportunities for Nigerian youth in the cement industry in line with the establishment goals of CTIN is a weighty one. It is a future-threatening act and an act of economic sabotage.
“The situation of countless Nigerian youths, who remain unemployed and lacking technical skills in a rapidly advancing global economy like ours, is a harsh testament to the repercussions of such mismanagement and embezzlement. We demand answers, we demand accountability, we demand explanation and we demand justice.
“In clear terms, we urge Mr. President’s directive to the Federal Ministry of Industry, Trade and Investment to make public as a matter of urgency and national importance her role so far, the status, management, and usage of the over 20 billion Naira (about $100 million) contributed as levies on imported cement to CTIN for technical training purposes for over 10 years ago when Nigeria was still importing cement.”