The House of Representatives Committee on Public Accounts, PAC, on Tuesday gave the management of the Tertiary Education Trust Fund, TETFUND a Seven day ulimatum within which to appear before it to explain the mode of the operations of Fund and its reserve in line with the Act which set it up.
The Chairman of the Committee, Hon Busayo 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 MDAs of the Federal Government
According to him, the Management of Agency 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 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
The Committee in addition requested for the details of expenditures, list of donors, grants and total amounts involved.
It 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.
The Committee directed the Official of the Federal Inland Revenue Service, FIRS to appear along to assist in carrying out its investigation into the operations of the Agency
This came just the committee it gave 25 Heads of MDAs who have shunned its several summons a 24hour ulimatum 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 back but can not bite
“The Committee Clerk is here by directed to prepare the full list of those involved, if by tomorrow morning, 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, TETFUND, Universal Education Board, UBEC Nigerian Ports Authority, NPA, Ministry of Transportation, Nigeeian Railway Corporation, NRC, Ministry of Works and Housing and Others
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