- The Tertiary Education Trust Fund has said N359bn was withdrawn from the coffers of the fund without specific reasons in 2013.
The Tertiary Education Trust Fund has said N359bn was withdrawn from the coffers of the fund without specific reasons in 2013.
The fund noted in Abuja on Tuesday that in order to recover the N359bn, it had written petitions to the Federal Ministry of Finance and the National Assembly, and was awaiting responses.
The TETFUND Executive Secretary, Prof. Elias Bogoro, said this when he received members of the House of Representatives’ Committee on Tertiary Education, led by Aminu Suleiman.
Bogoro, when asked to clear the air over the missing funds, said between 2018 and now, about N90bn had also been borrowed from the fund’s consolidated education account with the Central Bank of Nigeria.
The ES said, “Under the guise of borrowing, if you add up, a total sum of N359bn was taken out between September and December 2013 without any consultation. But with the Treasury Single Account coming into place in 2015, a lot of things have changed.
“We, however, appreciate the National Assembly members for their concerns and efforts to see that the money is refunded to us because it will help our accounts to be more balanced.”
Bogoro noted that N10bn meant for high-impact projects in selected tertiary institutions had also been recovered from the defaulters.
