The College of Education Academic Staff Union (COEASU) has declared that it would not dictate to members on whether or not to access the Tertiary Institution Staff Support Fund (TISSF) scheme recently launched by the Federal Government.

Through the scheme, workers in public tertiary institutions can obtain free-interest loans to the tune of N10 million, and pay back over a period of time.

The National President of COEASU, Dr Smart Olugbeko, said the union took that decision because the loan, in the first instance, is optional for any member.

He noted that many people, including lecturers, are going through tough times without any alternative means of addressing those concerns.
“After all, some people on their own go to the bank or approach cooperative societies to obtain a loan when they need it. So, if we now have somebody who is qualified for a loan that is without interest, and you have a moratorium of one year before you start paying, we won’t stand against such an individual.

“We should know that if we choose to wait for a salary increment, it may not happen when the money is actually needed. Olugbeko lamented that members have been on the same salary for over 15 years, when one dollar was exchanged for N180.

He noted that all efforts by the union to prevail on the government to increase members’ salaries in line with current economic realities were to no avail.

Olugbeko pointed out that the last time the government reviewed their salaries was in 2010, with a promise to do a subsequent review every three years, which the government failed to do.

“The last time the government came to have a discussion with us on renegotiation was February 2024, and we submitted our demands, with a promise to come back, but nothing has happened till now.

Olugbeko lamented that no lecturer in the country’s tertiary institutions could conveniently meet up with his or her family responsibilities, including healthcare and education bills, let alone buy a car or build a house.

He added that no staff cooperative society in public tertiary institutions can afford to give N5 million loans to staff members, as contributions to such a pool are no longer forthcoming as and when due because of poor salaries.