TETFund Under Sonny Echono Faces Scrutiny over Alleged Monumental Scandals
The Human and Environmental Development Agenda (HEDA) has petitioned the Economic and Financial Crimes Commission (EFCC) over alleged graft in the Tertiary Education Trust Fund (TETFund) under the management of Sonny Echono.
HEDA expressed concerns about the award of contracts in foreign currency by TETFund, citing the contracts with Fides Et Ratio Academy and Pole Global Marketing (PGM) as examples.
The petition alleges that the contracts were not fully executed despite payments being made, with 85% of the contract sum paid to PGM without evidence of work done.
HEDA also raised suspicions of illegal movement of foreign currency or potential money laundering in the payment of $5 million to an offshore account for the contract with PGM.
The anti-corruption group called for a thorough investigation into the matter and prosecution of individuals implicated in the alleged wrongdoing.
In an investigative report, Premium Times also reports how TETFund awarded a N3.8 billion contract to Fides Et Ratio Academy without proper procurement procedures and evidence of execution.
Despite claiming it’s a capacity-building contract, TETFund illegally deducted 50% of institutions’ ICT funds for it.
The media reports pointed out that TETFund paid the contractor N2.9 billion in installments, but no evidence of training sessions or participants exists.
The contract award lacks Bureau of Public Procurement approval, and there’s no proof of presidential approval, as claimed by TETFund.
TETFund claims the contract aims to enhance communication and entrepreneurial skills among students and staff.
Despite requests, TETFund failed to provide evidence of contract execution, such as participant lists and training materials.
TETFund’s contract award is a violation of the Public Procurement Act, which requires competitive bidding and FEC approval for contracts above N3 billion.
The contractor, Fides Et Ratio Academy, and Edunet Solutions have remained silent despite inquiries.
TETFund’s move to deduct funds from institutions’ ICT budgets without their consent is illegal.
The contract raises concerns about accountability and transparency in TETFund’s operations.
In a response to the allegations of monumental scandal under his watch, Mr Sonny Echono, the Executive Secretary of TETFUND denied the claims stating that the agency adheres to due process in its operations.
He said the agency introduced reforms to improve transparency and accountability.
Echono added that the agency’s partnerships with foreign firms helped expand the ICT infrastructure of tertiary institutions in Nigeria.
Despite TETFund’s denial of awarding contracts without due process, the Cable observed that several questions remain unanswered.
Some of the poser raised are the following questions:
Was there a board of trustees at the time of the award?
Did the president approve deducting funds from institutions’ allocated funds for ICT intervention?
Despite TETFund claiming it’s not a contract, why was there a selection process?
Was there an umbrella MoU for the projects, and why was it not explicitly referenced in the contract award letters?
Which law allows advance payments of 70% and 85% without advance payment guarantee or insurance bond?
Is it within TETFund’s mandate to engage contractors for student training and train-the-trainer sessions?
Who approved the engagement and awarded the contracts, given the absence of a board or appointed minister at the time?
What is the status of the Fides ET Ratio Academy project, considering its advance payments and the absence of evidence of trained individuals?
Meanwhile, Economic Confidential gathers that the Independent Corrupt Practices and Other Related Offences Commission (ICPC) held the Director of Finance and Accounts of TETFund, Ms Gloria Olotu, over the monumental scandal.
Olotu was detained after being questioned by the ICPC on allegations of contract irregularities, while two other TETFund officials were released and asked to return the following day.
