The Senate at Plenary on Wednesday mandated its Committee on Tertiary Institutions and Tetfund to invite the Executive Secretary of Tetfund to appear before the Committee to explain and give clarity on the issue of misappropriation of the fund in the Education Tax Fund from 2011- 2015 and report back to the Senate within one week.
The Education Trust Fund are fund generated from education tax that are utilised to improve the quality of education in the country.
The Senate is 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 Distinguished Senators were further concerned that the Board granted a loan to the Federal Ministry of Education and also organized a workshop and pre- retreat in U.S. And Kenya in 2014-2015 without a recourse to guidelines of the Act.
Worried that after spending nearly N1 trillion between 2011-2015 by Tetfund still the state of infrastructure in our tertiary education institutions is still very shabby, dilapidated and mostly run down, the Senators accordingly resolves to mandate its Committee to investigate the Agency.