Crime Headline Local News

Reps summon TETFUND overutilization of Funds

The House of Representatives Committee on Public Accounts has given the management of the Tertiary Education Trust Fund, TETFUND a seven-day ultimatum to appear before them it overutilization of funds.

The Chairman of the Committee, Mr Oluwole Oke issued the summon when the Accountant General of the Federation Mr Sylva Okolieaboh appeared before the Committee on multiple queries raised against several Ministries, Departments and Agencies of Government.

According to him, the Management of TETFUND which is to appear along with the Accountant General is expected to explain the mode of operations of the Funds in line with the Act which established it.

The Committee chairman, also requested for the details of expenditures, list of donors, grants and total amounts involved.

According to him, the Management is also expected to explain the utilization of the two and a half percent Education Tax being collected from Companies and agencies on behalf of the Federal Government

Mr Oke frowned at a practice where the Agency had not been rolling back its surplus funds to the consolidated account of the Federal government at the end of every financial year as obtained with other MDAs.

He directed the officials of the Federal Inland Revenue Service, FIRS to appear along to assist in carrying out its investigation into the operations of the Agency

Meanwhile, the committee has given a 24hour ulimatum to 25 Heads of MDAs who have shunned its several summons a within which to honour its invitation or be arrested via issuance of warrant of arrest.

According to Oke, “we have come to a stage where the Committee has to exercise its constitutinal power, we are not a dog that can only bark but can not bite

“The Committee Clerk is here by directed to prepare the full list of those involved, if they didn’t come, we will have no choice to present it to the Speaker of the House of Representatives, Rep Femi Gbajabiamila to sign the warrant of arrest”

Some of the Agencies are: Tertiary Education Trust Fund, Universal Education Board, UBEC Nigerian Ports Authority, NPA, Ministry of Transportation, Nigeeian Railway Corporation, NRC, Ministry of Works and Housing amongst Others.