The students claimed that over N20 billion was contributed as levies on imported cement to CTIN for technical training purposes over a decade ago when the country was still importing cement.
The students urged Tinubu to direct the immediate engagement of an external independent forensic auditor to audit the CTIN funds.
In August 2011, the Ministry of Trade and Investment established the Cement Technology Institute to support the domestic cement industry and its activities through the acquisition and development of appropriate technology, and to ensure the availability of affordable cement throughout the country.
The Institute is 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.
In June 2016, the Economic and Financial Crimes Commission visited the Bank of Industry in connection with the CTIN’s fund being managed by the bank.
The anti-graft agency had acted on a petition by the CTIN to the Presidency in November 2015. But the then Acting Managing Director, BoI, Mr. Waheed Olagunju, explained that the stakeholders resolved the issues in February 2016, two months after the petition was filed.
But addressing a press conference at Excellence Hotel in Ikeja on Sunday, the NANS Senate President, Comrade Akinteye Babatunde, asked the President to ensure that anyone found guilty is held accountable for their actions.
He also urged Tinubu to ensure swift action toward restructuring the leadership and governance of CTIN.
Babatunde said, “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’s 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.
“This is not a plea for answers; this is a demand for accountability, transparency, justice, and a rallying cry for all those who believe in Nigeria’s potential and the rights of its youth to education, opportunity, and a fair shot at success.
“We will not rest until every penny of the funds is accounted for, and until those responsible for this shameful betrayal of trust by hiding these funds and not using them for their right purpose, are held accountable publicly. We will use every available platform and legal recourse to seek justice and ensure that such a breach of public trust never reoccurs.”
