Academic Staff Union of Universities, (ASUU), has called on the federal government to stop tax waiver being enjoyed by banks and private companies in the country.

ASUU disclosed that banks are hiding under the guise of waiver to halt the payment of education tax to the Tertiary Education Trust Fund, TETFund.

The university lecturers’ body insisted that 3% accessible profits of financial institutions and companies must be paid for the nation’s tertiary institutions to function optimally.

President of ASUU, Prof. Emmanuel Osodeke, presented the union’s position, yesterday in Abuja during a public hearing at the House of Representatives’ Committee on TETFund and Other Matters.