The House of Representatives established an ad hoc committee on Tuesday to investigate the Tertiary Education Trust Fund (TETFUND)’s alleged misuse of N2.3 trillion in education tax funds from 2011 to 2013.
Reps. Olusola Fatoba, David Fouh, and Zakari Nyanpa co-sponsored the motion.
According to the MPs’ resolution, the Tertiary Education Trust Fund has produced billions of naira in income since its inception in 2011.
They claimed, however, that the Fund is-
“reputed for numerous financial abuses in its operations, award of contracts and execution of projects.”
They further noted that the usual operating practice inside the Fund is –
“porous and does not create a platform for proper supervision of projects domiciled with tertiary institutions.”
The committee has four weeks to provide its report.
cc: Daily Trust Ng
