House of Representatives will investigate TETFUND regarding N2.3 trillion education tax fund

This was adopted as a resolution on Tuesday at the House's plenary session after a motion co-sponsored by Olusola Fatoba, David Fouh, and Zakari Nyanpa was approved.
The chief sponsor of the motion, Fatoba, claimed that since the TETfund was founded in 2011, it had generated "trillions of naira" in revenue.
According to his accusations, the "fund is reputed for numerous financial abuse in its operations, award of contracts, and execution of projects."
According to the report, "The standard operating procedure within the fund is porous and does not create a platform for proper supervision of projects domiciled with tertiary institutions, with disbursements of funds happening without tracking and payments being made despite the failure of contractors to achieve milestones required for such payments," he said

The misuse of funds and unjust enrichment of funds totaling roughly N2.3 trillion are the results of these abuses, actions, inactions, and transgressions.
The member warned that the "decay of the tertiary education system" would worsen if prompt action was not taken to probe the claims.
He claimed that as a result, "strikes by academic workers, poor institutions, a lack of faith in the system, the exodus of talented youths, and the total collapse of the educational system arising from gross abuse of commendable special intervention programmes and aspiration of the president to provide opportunities to young people through quality tertiary education" would continue to be the results.

Tajudeen Abbas, the speaker, submitted the motion to a voice vote, and it was approved.

The house established an ad hoc committee to look into the claims and provide a report within four weeks for additional legislative action.