VIDEO:  NANS writes Tinubu, demands investigation over alleged mismanagement of CTIN funds

The National Association of Nigerian Students (NANS) has called President Bola Tinubu to examine alleged mismanagement at the Cement Technology Institute of Nigeria (CTIN), controlled by Aliko Dangote.

This was stated by the association in an open letter to the president dated February 22, 2024, with the subject line “Mismanagement and Lack of Transparency and Accountability in CTIN Funds Administration: A Call for Immediate Action.”

The NANS Senate President Akinteye Babatunde signed the letter, which claimed that the alleged mishandling, diversion, and misappropriation of a strategic fund meant to give young Nigerians in the cement industry opportunities for training and development in line with CTIN’s founding goals is serious; in fact, it’s an act that could threaten the future of the country and sabotage the economy.

It said that nothing could be considered an accomplishment and that the fund had been wasted, leaving a path of unfulfilled hopes and broken promises.

“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. Another hidden factor responsible for the unprecedented hike in cement price in the country. We demand answers, we demand accountability, we demand explanation and we demand justice,” NANS said.

The association, for this reason, called on the president to order the Federal Ministry of Industry, Trade and Investment to disclose, as soon as possible and on behalf of the entire country, the status, administration, and use of the more than N20 billion that CTIN has received in levies on imported cement since more than a decade ago, when Nigeria was still importing cement.

“We are also demanding an explanation directly from Dangote as to where the said fund is,” the statement reads, adding that “since this institution was created by the Federal Ministry of Trade, in conjunction with cement importers, Dangote has been sole chairman.”

The association pleaded with the president to advise Dangote to immediately hire an outside, independent forensic auditor to audit the CTIN funds, “and we also demand that anyone found guilty be held accountable for their actions,” in order to prevent the situation from getting out of control and all Dangote industries being taken over by Nigerian students across the country.

With the slogan “Nothing like life chairman, it should be democratic to prevent such overstay that is bringing severe mismanagement of what should be the people’s commonwealth from happening in the future,” the student body also called for quick action to restructure CTIN’s leadership and governance.

“We demand from Chairman CTIN Aliko Dangote, an explanation on his level of involvement as to what looks to the public as a mismanagement and misappropriation of the CTIN funds.”