Donors for Yobe Education Appeal Fund have yet to redeem pledges – Official

A large number of donors who pledged billions of naira last year to support the Yobe education revitalization appeal fund under the YETFUND have yet to redeem their pledges.

This was disclosed in a statement signed by Yusuf Ali, Senior Special Assistant (SSA) on Communication and Strategy, to Governor Mai Mala Buni.

Last February, Governor Mai Mala Buni launched the 25billion Yobe Education Trust Fund YETFUND, an initiative aimed at providing financial and material support for the revitalization of the education sector in Yobe as a result of long-term neglect and destruction by Boko Haram insurgency in the Northeast.

Gov. Buni, whose passion for the revamping of the education sector knows no bounds, promptly inaugurated the Fund Raising Committee and establishment of YETFUND and appointed men and women of proven integrity and their wealth of experience in the education sector as members of Board of Trustress.

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Engr. M.A.K Abubakar was appointed as the Chairman of the Board.

During the colourful launch of the Fund, Gov. Buni hosted a fundraising dinner at the Ladi Kwali Conference Hall, Sheraton Hotel Abuja.

The event was highly attended and well organised.

At the event, Gov. Buni, who personally served as the Chief Host, invited many prominent business people to make their pledges public.

Many of the dignitaries pledged huge sums of money: Alhaji Dahiru Barau Mangal, Chairman/CEO, Mangal Group of Companies, who is also the Chief Launcher made the most of the donation of N1 billion. Aliko Dangote, Chairman, Dangote Group of Companies, donated N350 million, while fellow business tycoon, Abdulsamad Rabiu, gave N300 million. Also, Nigerian Governors’ Forum, NGF, an association of all Nigerian states governors, donated N350 million, while N100 million was donated by Tahir Group of Companies.

Prof. Babagana Umara Zulum, governor of Borno State and his delegation had also made a combined donation of N115 million.

N50 million from the sum was donated by the state government, Gov. Zulum had said.

According to Governor Zulum, N45 million was a combined donation from all national and state lawmakers from the state as well as All Progressives Congress members and other stakeholders.

Kayode Fayemi, chairman of NGF said except Yobe, the beneficiary, all other states of the federation donated N10 million each as part of their donation, adding that only Borno State contributed N20 million in that regard.

But many who pledged for the Fund have yet to even make a first instalment.

Less than a quarter of the pledged funds has been redeemed so far.

The Chairman of the YETfund, Engr. M.K Mohammed Abubakar, who led members of the Board to a working visit on Governor Mai Mala Buni on 4th May, 2023 in Abuja, said only N1.6 billion was realized from the pledges.

Engr. MKA Abubakar said the launch of the education Trust Fund targeted N25 billion, but N10.2 billion was realised in pledges while, N1.6 billion was the actual collection deposited in the Fund account.

He explained that the N1.6 billion was intact in the account, and N104 million was generated as interest.

Engr. Abubakar said N101 million was expended on the repairs of blown off school roof in Gujba Local Government, teachers training, construction of 88 modern toilets in schools,1,000 students desks and teachers tables, and school enrolment campaign among others while the N1.6 billion was safe in the account.

While commending the Board for transparency and accountability in the management of the N1.6 billion realised, Governor Buni said the transparency in the affairs of the board gave every Yobe indigene a sense of hope, pride and fulfilment and assured the fund of independence to execute its mandate without interference. [Culled from Neptune Prime]