The Tertiary Education Trust Fund (TETFUND) ACT (AMENDMENT) BILL, 2016 has passed second reading in Senate. The Bill seeks to correct an anomaly in the TETFUND ACT, 2011 which provides for the President’s approval in the disbursement of funds belonging to TETFUND. Under the present law, the legislature is omitted from authorizing the expenditure and disbursements of TETFUND.

Leading the debate on the Bill Sen. Jibrin Barau (APC:Kano) noted that the bill would end the violation of section 80 (4) of the 1999 Constitution (as amended) which prevents monies from being withdrawn from the Consolidated Revenue Fund or other public funds of the Federation, except in the manner prescribed by the National Assembly. Section 80(4) of the 1999 Constitution also authorizes the National Assembly to consider and approve the expenditure and disbursement of all public funds.

He also added that the Bill followed a Senate’s resolution to stop the diversion of funds belonging to TETFUND for other uses and emphasized that the funds belonging to TETFUND would be secured when the bill becomes law. The bill has bill referred to the Committee on Tertiary Institutions and TETFUND.