Missing N2 Trillion: TETFUND says FG borrowed N371 billion

President Bola Tinubu and TETFUND executive secretary Sonny Echono
President Bola Tinubu and TETFUND executive secretary Sonny Echono

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.

TETFUND executive secretary Sonny Echono disclosed this at a public hearing on alleged missing N2.3 trillion in TETFUND between 2011 to date, organized 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 only 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.

Mr. 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.

Mr. Oke adjourned the hearing to Thursday.