The Senate Wednesday at plenary mandated its Committee on Tertiary Institutions to invite the Executive Secretary of Tetfund to appear before the Committee to explain and give clarity on the issue of misappropriation of the funds in the Education Tax Fund from 2011- 2015 and report back to the Senate within one week.
The Education Trust Fund is generated from education tax that is utilized to improve the quality of education in the country.
The Senate is however concerned that about N200 billion of the education tax collected between 2012 and 2013 were diverted to other unknown and unspecified uses not recognized in or permitted under the Act and the diverted funds are to be returned into the fund.
The Senators were further concerned that the Board granted a loan to the Federal Ministry of Education and also organized a workshop and retreat in US and Kenya in 2014-2015 without recourse to guidelines of the Act.
Worried that after Tetfund spent nearly N1 trillion between 2011 and 2015; still the state of infrastructure in our tertiary education institutions is still very shabby, dilapidated and mostly run down, the Senators accordingly resolved to mandate its Committee to investigate the Agency.
