Africa's Education News Source

Alleged missing N2 trillion: TETFUND says FG borrowed N371bn

Get stories like these delivered straight to your inbox.

The Tertiary Education Trust Fund (TETFUND) says that the federal government is indebted to the agency to the tune of N371 billion amid allegations of a mission of N2.3 trillion.

Sonny Echono,TETFUND executive secretary disclosed this at a public hearing on alleged missing N2.3 trillion in TETFUND between 2011 to date, organised by an ad hoc committee of the House of Representatives.

On the alleged missing N2.3 trillion, Echono said that the revenue accruable to the fund within the period is N2.47 trillion. He revealed that between 2011 to date, the federal government borrowed N371.3 billion and repaid N48 billion.

The executive secretary also mentioned that all relevant documents to aid the investigation of the committee had been provided.

Earlier, the committee chairman, Oluwole Oke (PDP-Osun), stressed the house resolution on a motion to investigate the alleged missing sum. He said the committee would look at all the documents submitted by TETFUND and the law establishing the fund.

Oke explained that the committee was also interested in TETFUND staff’s welfare, promising no individual or agency would be intimidated by the house.

He, however, mentioned that the parliament would ensure TETFUND does what is right and deliver the required services to Nigerians.

Oke adjourned the hearing to Thursday.


Share this article

All right reserved. You may not reproduce or republish Edugist content in whole or part without express written permission. Only use the share buttons.

Support Edugist’s goal of giving education a voice

Even a small donation will make a difference.

Related Content

0 0 votes
Article Rating
Notify of
Inline Feedbacks
View all comments
Would love your thoughts, please comment.x
WeCreativez WhatsApp Support
Our customer support team is here to answer your questions. Ask us anything!
???? Hi, how can I help?
Scroll to Top

Fill the form below to download the WASSCE 2024 Timetable

Be the First to Know When we Publish new Contents

“Stay ahead of the educational curve! Subscribe to Edugist’s newsletter for the latest insights, trends, and updates in the world of education. Join our community today and never miss out on valuable content. Sign up now!”