ICPC reportedly detain TETFund boss over N7.6bn fraud

The Independent Corrupt Practices and Other Related Offences Commission (ICPC), has reported detained executive secretary of the Tertiary Education Trust Fund (TETFund), Sonny Echono.

Speaking on Friday, ICPC spokesperson, Demola Bakare, stated that Echono was invited by the anti-graft agency on Thursday.

“The executive secretary of TETFund is here with us. He has been invited for questioning. He is still in custody. He was invited yesterday.” Bakare said.

While speaking with Echono, he denied being invited.

He said one of TETFund directors was briefly detained by the anti-graft agency and has been released.

“I wasn’t detained by the ICPC. I’m currently in my office. One of our directors was invited by the ICPC to tender documents. But the official has since been released,” Echono said.

On April 18, it was reported how TETfund awarded two contracts to Fides Et Ratio Academy and Pole Global Marketing (PGM) within two months at the cost of N3.8 billion respectively without the approval of the federal executive council (FEC), which is required for the contract size.

The contract was to provide capacity building course and learning management systems to about 2 million students across higher institutions in the country.

TETFund said it did not award N7.6 billion contracts to two companies without following due process.

The agency noted that, it was wrong to say they were contracts, whereas they were ICT projects implemented under a memorandum of understanding (MoU) which doesn’t require competitive bidding in public procurement.

TETFund further said its disbursement guidelines were approved by the president on the recommendation of the “Fund’s Board of Trustees and concurrence of the Honourable Minister of Education in line with the TETFund Act 2011″.

In an interview, Echono stated that there was no form of discrepancies in the N7.6 billion project.