House of Reps to probe TETFUND over N2.3trn education tax fund

The House of Representatives is set to investigate the alleged abuse of N2.3 trillion tertiary education tax by the Tertiary Education Trust Fund (TETFund) from 2011 to 2013 as a resolution in the plenary session of the House after the adoption of a motion co-sponsored by Olusola Fatoba, David Fouh and Zakari Nyanpa.

He said the standard operating procedure within the fund is porous and does not create a platform for proper supervision of projects domiciled with tertiary institutions, with disbursements of funds happening without tracking and payments being made despite the failure of contractors to achieve milestones required for such payments.

These abuses, actions, inactions and infractions have resulted in the misappropriation of funds and unjust enrichment of funds worth about N2.3 trillion.

Speaking further, the lawmaker said if urgent steps were not taken to investigate the allegations, the decay of the tertiary education system will continue to increase.

Adding that, the Independency of TETFUND will aid continuous strikes by academic workers, substandard institutions, lack of faith in the system, migration of talented youths and total collapse of the education system arising from gross abuse of laudable special intervention programmes and aspiration of the president to provide opportunities to young people through quality tertiary education”.

The motion was adopted when it was put to a voice vote by Tajudeen Abbas, the speaker.

Reacting to the motion the house set up an ad hoc committee to investigate the allegations and report back within four weeks for further legislative action.