TETFund Clarifies N7.6 Billion Contracts Debacle: No Approval of President or FEC Required

The Management of Tertiary Education Trust Fund (TETFund) has issued a clarification regarding reports claiming that the organization awarded questionable contracts worth N7.6 billion without the required approvals from the President or the Federal Executive Council (FEC).

In a statement, the Acting Director of Public Affairs, Abdulmumin Oniyangi, refuted these allegations and provided detailed explanations to set the record straight.

TETFund’s rebuttal emphasized that all of its disbursement guidelines are approved by the President, based on recommendations from the Fund’s Board of Trustees and the concurrence of the Minister of Education, as outlined in the TETFund Act 2011.

The statement clarified that at no point did the Fund attempt to usurp the powers of the President or the FEC, nor did it award contracts without due process.

The two projects under scrutiny, which were described as ICT Projects being implemented under a Memorandum of Understanding (MoU) with Anthology USA and Edunet Academy, were not contracts but rather partnerships aimed at enhancing the ICT roadmap endorsed by beneficiary institutions.

These collaborations were not subject to competitive bidding in public procurements, as the two organizations are owners of the intellectual property rights for their respective products.

Furthermore, the statement pointed out that the partnership aimed to leverage economies of scale by aggregating the ICT needs of beneficiary institutions for bulk negotiation.

It also emphasized that these efforts are in line with the Fund’s mandate to empower students with essential ICT skills, contrary to the report’s insinuation of illegal actions.

TETFund expressed disappointment over attempts by certain elements to tarnish the organization’s image and called on its beneficiary institutions, stakeholders, and the public to disregard the misinformation.

The Fund reiterated its commitment to acting responsibly and in line with due process in all its activities.

In light of this clarification, it is evident that the initial reports of questionable contracts lacked a comprehensive understanding of the nature of the partnerships and the Fund’s legal framework.

Moving forward, it is crucial for media outlets and stakeholders to verify information before disseminating it to prevent the spread of misinformation and to maintain the integrity of public institutions.