Senate orders committee to probe mismanagement of over N200b spent by TETFund in 4 years

The Senate on Wednesday mandated its Committee on Tertiary Institutions and Tertiary Education Trust Fund (TETFund) within one week to invite the Executive Secretary of TETFund Prof Suleiman Elias Bogoro, to explain and clarify to the committee, allegations of misappropriation of the funds in the Education Tax Fund from 2011- 2015 and report back to the Senate.

The Education Trust Fund are funds generated from education tax meant for improving the quality of education in the country.

The Senate was worried that about N200 billion of the education tax collected between 2012 and 2013 were diverted to other unknown and unspecified uses not recognized or permitted under the fund's Act and the diverted funds are to be returned into the fund.

The Senators were further perturbed 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, the state of infrastructure in the country's tertiary institutions still remained shabby, dilapidated and mostly falling apart.