Tertiary Education Trust fund abbreviated as TETFUND is a scheme established by the Federal Government of Nigeria in 2011 to disburse, manage and monitor education tax to government-owned tertiary institutions in Nigeria.
TETFUND scheme was formed as a product of the Education Tax Act of 1993. Prior to the establishment of the scheme in 2011, government-owned tertiary institutions were poorly funded. The scheme was designed to improve on the managements of funds disbursed to these institutions.
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Tertiary Education Trust Fund Wikipedia(Text) CC BY-SA