The sudden disappearance of the sum of N200 Billion from the Tertiary
\nEducation Trust Fund, TETFUND, is currently giving officials headache and
\nmight be a subject of an intense investigation, Pointblanknews.com
\ngathered.<\/p>\n
TETFund are managers of multi billion Naira fund for the development of
\ntertiary institutions across Nigeria.<\/p>\n
Very credible inside sources told Pointblanknews.com that top members of
\nthe former President Goodluck Jonathan\u2019s administration may have to
\nexplain to security agencies how they pressured the Executive Secretary of
\nTETFUND into releasing the sum of N200 Billion.<\/p>\n
Sources told Pointblanknews.com that few months to the elections, some
\nunnamed members of the previous administration wrote several letters to
\nthe leadership of TETFUND soliciting for financial support towards the
\nelections.<\/p>\n
The letters according to a source, emanated from some senior Government
\nofficials whose position, the leadership of TETFUND could not ignore.<\/p>\n
A member of the TETFUND board recently dissolved by president Mohammadu
\nBuhari told Pointblanknews.com that while they deliberated on some of the
\nfinancial requests made, the board was still at a loss how N200 Billion
\ndisappeared from TETFUND accounts.<\/p>\n
The former board member who does not want his name in print disclosed that
\nwhat is known to his colleagues is that the Executive Secretary of
\nTETFUND, Professor Sulaiman Bogoro spends millions sponsoring political
\nactivities of his godfathers to keep his job.<\/p>\n
\u201cWe are still shocked at the disappearance of the N200 Billion from
\nTETFUND account. But one thing that we know is that the ES sponsors so
\nmany political activities that runs into millions and I wont be shocked if
\nthe N200 Billion is part of it,\u201d the former board member told
\nPointblanknews.com<\/p>\n
Sources hinted that TETFUND is like the proverbial cash cow where
\nPoliticians from the peoples Democratic Party, PDP, often go to for cash.<\/p>\n
Musa Babayo, a chieftain of PDP who until the dissolution of the board was
\nChairman has had several months of friction with the Executive secretary
\nover financial matters.<\/p>\n
Sources said both men fought severally over who controls funds.<\/p>\n
Another insider told Pointblanknews.com that the Executive Secretary is
\ncurrently in quandary over how to defend the disappearance of the N200
\nBillion when called upon by Security Agencies to do so.<\/p>\n
Only recently, a petition by an anti graft NGO, Transparency Crusaders,
\ncalled on the President Buhari prevail upon the EFCC chairman, Ibrahim
\nLamorde and the ICPC boss, Mr Ekpo Nta , to investigate officials of the
\nTertiary Education Trust Fund.<\/p>\n
The petition, alleged amongst other things that, since his appointment as
\nthe Executive Secretary, Professor Bogoro has been working in defiance of
\ndirectives from the chairman of the board of the fund, Alhaji Babayo by
\ncreating a cartel that sleazes the fund in active connivance with some
\nbank officials.<\/p>\n
According to them, all the funds classified as un-accessed, and even those
\nclaimed to have been remitted to the beneficiaries were often left with
\nbanks to yield interest, which were often raked off by TETFund officials,
\nbefore the returns are made to the Executive Secretary, through his
\nconfidants.<\/p>\n
Describing as bogey, the recent disbursement of N135 billion to government
\nowned Universities, Polytechnics and Colleges of Education, the anti graft
\nagencies were invited to look into the operations of the accounts of
\nTETFund domiciled at ECOBANK and two other third generation banks to
\nverify the transactions on the funds since it was disbursed to TETFund
\nabout three months earlier, and why it was kept for long in the banks
\nuntil the time of election.<\/p>\n
They alleged that, TETFund Executive Secretary was fond of sponsoring the
\npolitical activities of some politicians, especially in his home state,
\nand also paying heavy ransoms to his political godfathers, by dolling out
\nmillions from the coffers of the establishment, even as he allegedly used
\nthe funds to oppose President Buhari emergence, by openly supporting
\nJonathan\u2019s PDP.<\/p>\n
Other allegations leveled against the management of the Fund is that, most
\ncontractors handling major TETFund contracts across the country were
\neither stooges of the Executive Secretary or his godfathers, who were
\nawarded the contracts through Bogoro\u2019s instrumentality, and who make
\nreturns appropriately.<\/p>\n
Professor, the petitioners alleged that Bogoro has been fanning the embers
\nof religious politics in the North-East sub region, and may have equipped
\nsome youths to execute his religious agenda, using politics as an alibi.<\/p>\n","protected":false},"excerpt":{"rendered":"
The sudden disappearance of the sum of N200 Billion from the Tertiary Education Trust Fund, TETFUND, is currently giving officials headache and might be a subject of an intense investigation,…<\/p>\n","protected":false},"author":1,"featured_media":40600,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[17],"tags":[],"class_list":["post-40599","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-exclusive"],"yoast_head":"\n