Senate Moves To Recover TETFUND’s N263bn In 2013

The Senate yesterday resolved to ensure the refund of all monies diverted from the Education Tax Account of Tertiary Education Trust Fund (TETfund) by the Federal Government in 2013 to other projects outside the purview of the agency.
The Upper Chamber said it became necessary as there were numerous infrastructural projects to be executed in tertiary institutions across the country.

The Red Chamber also said it would amend the TETfund Act to enable it becomes part of approving authority for allocation and disbursement funds by the interventionist agency and that the appointments of the executive secretary and that of the chairman and Members of the Board of Trustees of Tetfund be confirmed by the Senate upon nomination by Mr. President.

The resolutions at the Committee of the Whole followed the adoption of a report of the Senate Committee on Tertiary Institutions and TETfund on a Motion tagged “Gross Mismanagement of Education Tax Fund 2011 to 2015”.


We recall that the Senate at plenary on Wednesday, December 2, 2015 deliberated on the Motion sponsored by Senator Abdullahi Sabi (APC, Niger), who drew the attention of the Senate to the alleged gross mismanagement of Education Tax Fund.