The house of representatives says it will investigate the alleged abuse of N2.3 trillion tertiary education tax by theThe lower legislative chamber passed the resolution during the plenary session on Tuesday after the adoption of a motion co-sponsored byThe tertiary education tax was introduced as a special corporate levy to provide specialised funding for higher education in Nigeria, including capital projects, research and development, among others.
While moving the motion, Fatoba, the lead sponsor, said since the establishment of the TETfund in 2011, the fund has earned “trillions of naira” as generated revenue. “These abuses, actions, inactions and infractions have resulted in the misappropriation of funds and unjust enrichment of funds worth about N2.3 trillion.”