Reps seek AGF’s advice on N123bn TETFund deductions

The House of Representatives Public Accounts Committee has decided to seek the legal opinion of the Attorney-General of the Federation regarding the N123.48bn deductions made by the Nigeria Revenue Service (NRS) as cost of collection from Education Tax revenues between 2012 and 2024. This dispute arose after an audit query by the Auditor-General for the Federation, which found discrepancies between the Education Tax collected by the revenue agency and the amount remitted to the Tertiary Education Trust Fund (TETFund).

The committee, chaired by Bamidele Salam, heard conflicting interpretations from both agencies over the legality of the four percent deduction applied by the NRS. TETFund claims the deduction was unlawful as it was applied to the total Education Tax collection without excluding the oil revenue component, while the NRS maintains that its deductions were consistent with the law.

The committee resolved to obtain the AGF's legal interpretation to determine the correct position on the matter.

Brief written by urgent.news from Punch Nigeria's own syndicated text. Machine-written — may contain errors; check the original before relying on it.