TETFund Gets New Chairman: Bello Masari

Bello Masari

Masari Takes Helm at TETFund

President Tinubu appoints Masari to lead TETFund...

TETFund: A Nigerian intervention agency providing supplementary support to public tertiary institutions through funding and project management to revitalize and consolidate tertiary education.

President Bola Tinubu has officially appointed former Katsina State Governor, Aminu Bello Masari, as the Chairman of the Tertiary Education Trust Fund (TETFund). The announcement was made on Tuesday evening by Chief Ajuri Ngelale, the President's Special Adviser on Media and Publicity.

Masari will be joined on the TETFund board by six newly appointed members, including Senator Sani Danladi, Sunday Adepoju, Nurudeen Adeyemi, Esther Onyinyechukwu Ukachukwu, Turaki Ibrahim, and Aboh Eduyok. Together, they will work to advance the fund's mission and objectives.

“The President expects the new members of the board of this pivotal institutional vehicle to be dedicated and committed to driving TETFund's objective of providing the needed support for tertiary education with a view to enhancing the productivity and quality of higher education,” the statement confirming the appointments said.

The Tertiary Education Trust Fund (TETFund) has its roots in the Education Tax Fund (ETF), which was initially established under Act No. 7 of 1993 and later amended by Act No. 40 of 1998. However, the ETF was eventually repealed and replaced by the Tertiary Education Trust Fund (Establishment, Etc.) Act No. 16 of 2011, which currently governs TETFund's operations.

TETFund serves as an intervention agency, providing supplementary support to public tertiary institutions at all levels. Its primary objective is to utilize funding and project management expertise to revitalize and consolidate tertiary education in Nigeria through rehabilitation and restoration efforts.

The Fund's primary source of income is the 3% education tax levied on the assessable profits of companies registered in Nigeria, providing a dedicated revenue stream to support its initiatives and projects.