TETFund Queries Varsities, Colleges Over N28.8bn Deductions

Seven tertiary institutions in the country have been queried by the Federal Government through the Tertiary Education Trust Fund over deductions of contractors’ fees to the tune of N28.8bn, Sunday PUNCH has gathered.

The institutions are Taraba State university, Lagos State University, Edo State University, Plateau State University, Federal College of Education Pankshin, College of Education, Gindri and the Aminu Saleh College of Education.

According to TETFund, the institutions were queried over extra deductions on payments made to contractors on its project.

This was revealed in the audit of 2023 financial year which released by the Fund on Thursday.

The report said, “A few Institutions have been queried for making extra deductions on payments made to contractors on TETFund projects. These deductions may be for Development Levy or State Tax.

“While scrutinising financial returns submitted to the Fund, a total sum of N28,893,685.92 was determined to have been deducted by the above beneficiaries from payments to contractors on various projects. These deductions are in contravention of TETFund guidelines and can possibly reduce the funds available to the contractors thereby causing a reduction in quality of work done.”

In the case of Taraba State University, the Fund noted that the sum of N2.1bn was allegedly deducted from 2021 zonal intervention and N4.3bn for the 2021 annual intervention.

For Lagos State University, the sum of N3.3bn was reportedly deducted from 2019/2020 annual intervention.

According to the report, Plateau State University deducted a sum of N2.6bn, while Edo State University deducted N1.9bn.

SOURCE: PUNCH