TETFund Under Sonny Echono Faces Scrutiny over Alleged Monumental Scandals
The Human and Environmental Development Agenda (HEDA) has actually petitioned the Economic and Financial Crimes Commission (EFCC) over declared graft in the Tertiary Education Trust Fund (TETFund) under the management of Sonny Echono.
HEDA revealed issues about the award of agreements in foreign currency by TETFund, mentioning the agreements with Fides Et Ratio Academy and Pole Global Marketing (PGM) as examples.
The petition declares that the agreements were not completely performed in spite of payments being made, with 85% of the agreement amount paid to PGM without proof of work done.
HEDA likewise raised suspicions of prohibited motion of foreign currency or possible cash laundering in the payment of $5 million to an overseas represent the agreement with PGM.
The anti-corruption group required an extensive examination into the matter and prosecution of people linked in the supposed misbehavior.
In an investigative report, Premium Times likewise reports how TETFund granted a N3.8 billion agreement to Fides Et Ratio Academy without correct procurement treatments and proof of execution.
In spite of declaring it’s a capacity-building agreement, TETFund unlawfully subtracted 50% of organizations’ ICT funds for it.
The media reports explained that TETFund paid the specialist N2.9 billion in installations, however no proof of training sessions or individuals exists.
The agreement award does not have Bureau of Public Procurement approval, and there’s no evidence of governmental approval, as declared by TETFund.
TETFund declares the agreement intends to boost interaction and entrepreneurial abilities amongst trainees and personnel.
In spite of demands, TETFund stopped working to offer proof of agreement execution, such as individual lists and training products.
TETFund’s agreement award is an infraction of the general public Procurement Act, which needs competitive bidding and FEC approval for agreements above N3 billion.
The specialist, Fides Et Ratio Academy, and Edunet Solutions have actually stayed quiet regardless of questions.
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TETFund’s transfer to subtract funds from organizations’ ICT budget plans without their approval is prohibited.
The agreement raises issues about responsibility and openness in TETFund’s operations.
In a reaction to the accusations of significant scandal under his watch, Mr Sonny Echono, the Executive Secretary of TETFUND rejected the claims mentioning that the company complies with due procedure in its operations.
He stated the firm presented reforms to enhance openness and responsibility.
Echono included that the firm’s collaborations with foreign companies assisted broaden the ICT facilities of tertiary organizations in Nigeria.
In spite of TETFund’s rejection of granting agreements without due procedure, the Cable observed that numerous concerns stay unanswered.
A few of the poser raised are the following concerns:
Existed a board of trustees at the time of the award?
Did the president authorize subtracting funds from organizations’ assigned funds for ICT intervention?
Regardless of TETFund declaring it’s not an agreement, why existed a choice procedure?
Existed an umbrella MoU for the jobs, and why was it not clearly referenced in the agreement award letters?
Which law enables advance payments of 70% and 85% without advance payment warranty or insurance coverage bond?
Is it within TETFund’s required to engage specialists for trainee training and train-the-trainer sessions?
Who authorized the engagement and granted the agreements, offered the lack of a board or designated minister at the time?
What is the status of the Fides ET Ratio Academy job, considering its advance payments and the lack of proof of qualified people?
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 huge scandal.
Olotu was apprehended after being questioned by the ICPC on accusations of agreement abnormalities, while 2 other TETFund authorities were launched and asked to return the following day.