Reps Question TETFUND Over Delays in Fund Access by Institutions

The House of Representatives Committee on Tertiary Education Trust Fund (TETFUND) has raised concerns about the slow pace at which tertiary institutions in the country are accessing funds from the agency. During an oversight function in Abuja, Miriam Onuoha, the committee chairman, questioned the executive secretary of TETFUND regarding the delay in fund disbursement.

Ms. Onuoha emphasized the importance of ensuring that funds allocated to tertiary institutions are promptly accessed and utilized for their intended purposes. She called on state governors to use their authority to ensure compliance with TETFUND directives regarding fund access.

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The committee's oversight function aimed to assess TETFUND's performance in the 2022–2023 budget cycle and ensure that allocated funds are used efficiently. Ms. Onuoha stressed the committee's responsibility to ensure transparent and judicious utilization of TETFUND allocations.

In response, Sonny Echono, the executive secretary of TETFUND, acknowledged the challenges faced in fund disbursement. He highlighted efforts to streamline the process and improve efficiency, including summoning commercial bank executives to address payment issues.

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Mr. Echono also noted an increase in education tax collection, attributing it to enhanced collection efficiency. Despite challenges such as the fluctuating exchange rate, he emphasized the agency's commitment to supporting scholars and ensuring timely disbursement of funds.

The oversight function underscored the importance of transparency and accountability in fund management, with both the committee and TETFUND reaffirming their commitment to addressing challenges and improving the efficiency of fund access by tertiary institutions.