TERTIARY EDUCATION TRUST FUND (ESTABLISHMENT) ACT, 2011 [AS AMENDED BY THE NIGERIA TAX ACT]

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 TERTIARY EDUCATION TRUST FUND (ESTABLISHMENT, ETC) ACT, 2011

LAWS OF THE FEDERATION OF NIGERIA

[As Amended by section 197(5) of the Nigeria Tax Act, 2025 (Act No. 7)]

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EXPLANATORY MEMORANDUM

This Act repeals the Education Tax Act Cap. E4, Laws of the Federation of Nigeria, 2004 and Education Tax Fund Act No. 17, 2003 and establishes the Tertiary Education Trust Fund charged with the responsibility for imposing, managing and disbursing the tax to public tertiary institutions in Nigeria. 

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ARRANGEMENT OF SECTIONS

1.       Deleted by section 197(5) of the Nigeria Tax Act, 2025 (Act No. 7) [Imposition of tertiary education tax].

2.       Deleted by section 197(5) of the Nigeria Tax Act, 2025 (Act No. 7) [Assessment and collection of tax.]

3.       Establishment of the Tertiary Education Trust Fund (Amended by section 197(5) of the Nigeria Tax Act, 2025 (Act No. 7)

4.       Establishment of the Board of Trustees.

5.       Cessation of membership.

6.       Functions of the Board of Trustees.

7.       Management and administration of the Fund.

8.       Appointment of the Executive Secretary and other staff of the Fund.

9.       Pension.

10.     Offences.

11.     Penalties.

12.     Jurisdiction.

13.     Limitation of suits against the Fund, etc.

14.     Service of documents.

15.     Restriction on execution against property of the Fund.

16.     Indemnity of officers.

17.     Regulations.

18.     Repeal.

19.     Savings.

20.     Interpretation.

21.     Citation.

Schedule

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TERTIARY EDUCATION TRUST FUND (ESTABLISHMENT, ETC) ACT, 2011

An Act to repeal the Education Tax Act Cap. E4 Laws of the Federation of Nigeria, 2004 and Education Tax Fund (Amendment) Act No. 17, 2003 and establish the Tertiary Education Trust Fund charged with the responsibility for imposing, managing and disbursing The Education Tax to public tertiary education institutions in Nigeria; and for related matters.

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[Commencement] [3rd Day of June, 2011]  

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ENACTED by the National Assembly of the Federal Republic of Nigeria –             

1.       [Deleted by section 197(5) of the Nigeria Tax Act, 2025 (Act No. 7)]

2.       [Deleted by section 197(5) of the Nigeria Tax Act, 2025 (Act No. 7)

3.       Establishment of the Tertiary Education Trust Fund

(1)     There is established the Tertiary Education Trust Fund (in this Act referred to as “the Fund”) for the rehabilitation, restoration and consolidation of tertiary education in Nigeria which shall be managed by the Board of Trustees established under section 4 of this Act.

(2)     The Fund –

(a)     shall be a body corporate with perpetual succession and a common seal; and

(b)     may sue and be sued in its corporate name.

(3)     [Deleted by section 197(5) of the Nigeria Tax Act, 2025 (Act No. 7)

(4)     The Fund shall, before disbursement of the amount in the Fund, set aside in each year, an amount not exceeding 5 percent of the total monies accruing to the Fund in the preceding year which shall be applied-

(a)     for the cost of administration and management of the Fund;

(b)     for the maintenance of any property acquired by or vested in the Fund and generally to pay for services rendered to the Fund;

(c)     for project monitoring;

(d)     to meet all the needs of the Fund necessary for the due administration and implementation of the purpose of this Act.

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ENACTED by the National Assembly of the Federal Republic of Nigeria –             

ALPHABETICAL INDEX TO THE LAWS OF NIGERIA (UPDATED)

LAWS MADE BY THE NATIONAL ASSEMBLY OF NIGERIA [1999 – 2019]