{"id":6854,"date":"2012-11-29T18:23:10","date_gmt":"2012-11-29T17:23:10","guid":{"rendered":"http:\/\/pointblanknews.com\/pbn\/?p=6854"},"modified":"2012-11-29T18:23:10","modified_gmt":"2012-11-29T17:23:10","slug":"documents-revealed-former-ubec-tetfund-bosses-vanished-with-n850-million","status":"publish","type":"post","link":"https:\/\/pointblanknews.com\/pbn\/exclusive\/documents-revealed-former-ubec-tetfund-bosses-vanished-with-n850-million\/","title":{"rendered":"Documents Revealed Former UBEC, TETFUND Bosses Vanished With N850 Million"},"content":{"rendered":"<p>Following demand by several readers for proof that the out gone Executive Secretary, Universal Basic Education Commission (UBEC), Dr. Ahmed Modibbo Mohammed got N850 million from Education Tax Fund (ETF), now TETFund, we hereby publish the following:<\/p>\n<p>1. Copy of the letter from Modibbo to his colleague in ETF, Prof. Mahmood Yakubu requesting the release of the N850 million for &#8220;procurement of additional classroom sitting materials (CKD) for junior secondary schools-release of the 85% take-off grant.&#8221;<br \/>\nDated 7th September, 2007, this was the first official assignment undertaken by Modibbo who assumed office three days earlier.<\/p>\n<p>2.Copy of page 26 of Daily Trust newspaper of Friday, August 22, 2008 (a year later) where Modibbo announced &#8220;Invitation for Pre-Qualification of Firms to Tender for the Production and Supply of Plastic Desks and Chairs for Junior Secondary Schools.&#8221;<\/p>\n<p>The then UBEC boss\u00a0 announced in the opening paragraph of the third column of the advertorial: &#8220;UBEC, a parastatal of the Federal Ministry of Education HAS RECEIVED financial support from the Education Tax Fund (ETF) and intends to apply the PROCEEDS for the procurement of high-grade impact resistant copolymer resin desks and chairs for the basic education sub sector at the states and FCT level in Nigeria.&#8221;<\/p>\n<p>As a consequence of a court order obtained by the firms that originally won the contract, Intermarkets Nig. Ltd and Intermarkets USA, stopping UBEC from re-awarding the contract to any other firm, no single chair or desk was purchased with the N850 million ETF released in September 2007.<\/p>\n<p>Modibbo and Yakubu have both left office without declaring the whereabouts of the N850 million meant for the plastic chairs and desks. If N850 million was fixed in September 2007, at 14 per cent interest rate, the minimum current value now would be N1.6 billion which neither Modibbo nor Yakubu has provided answers to.<\/p>\n<p><a href=\"http:\/\/pointblanknews.com\/pbn\/wp-content\/uploads\/2012\/11\/UBEC11.jpg\" data-rel=\"penci-gallery-image-content\" ><img decoding=\"async\" class=\"alignnone size-full wp-image-6862\" title=\"UBEC1\" src=\"http:\/\/pointblanknews.com\/pbn\/wp-content\/uploads\/2012\/11\/UBEC11.jpg\" alt=\"\" width=\"700\" height=\"550\" srcset=\"https:\/\/pointblanknews.com\/pbn\/wp-content\/uploads\/2012\/11\/UBEC11.jpg 700w, https:\/\/pointblanknews.com\/pbn\/wp-content\/uploads\/2012\/11\/UBEC11-300x235.jpg 300w, https:\/\/pointblanknews.com\/pbn\/wp-content\/uploads\/2012\/11\/UBEC11-600x471.jpg 600w\" sizes=\"(max-width: 700px) 100vw, 700px\" \/><\/a><\/p>\n<p><a href=\"http:\/\/pointblanknews.com\/pbn\/wp-content\/uploads\/2012\/11\/UBEC2.jpg\" data-rel=\"penci-gallery-image-content\" ><img decoding=\"async\" class=\"alignnone size-full wp-image-6860\" title=\"UBEC2\" src=\"http:\/\/pointblanknews.com\/pbn\/wp-content\/uploads\/2012\/11\/UBEC2.jpg\" alt=\"\" width=\"700\" height=\"550\" srcset=\"https:\/\/pointblanknews.com\/pbn\/wp-content\/uploads\/2012\/11\/UBEC2.jpg 700w, https:\/\/pointblanknews.com\/pbn\/wp-content\/uploads\/2012\/11\/UBEC2-300x235.jpg 300w, https:\/\/pointblanknews.com\/pbn\/wp-content\/uploads\/2012\/11\/UBEC2-600x471.jpg 600w\" sizes=\"(max-width: 700px) 100vw, 700px\" \/><\/a><\/p>\n<p><a href=\"http:\/\/pointblanknews.com\/pbn\/wp-content\/uploads\/2012\/11\/UBEC3.jpg\" data-rel=\"penci-gallery-image-content\" ><img decoding=\"async\" class=\"alignnone size-full wp-image-6861\" title=\"UBEC3\" src=\"http:\/\/pointblanknews.com\/pbn\/wp-content\/uploads\/2012\/11\/UBEC3.jpg\" alt=\"\" width=\"550\" height=\"700\" srcset=\"https:\/\/pointblanknews.com\/pbn\/wp-content\/uploads\/2012\/11\/UBEC3.jpg 550w, https:\/\/pointblanknews.com\/pbn\/wp-content\/uploads\/2012\/11\/UBEC3-235x300.jpg 235w\" sizes=\"(max-width: 550px) 100vw, 550px\" \/><\/a><\/p>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content --><!-- AddThis Related Posts generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>Following demand by several readers for proof that the out gone Executive Secretary, Universal Basic Education Commission (UBEC), Dr. Ahmed Modibbo Mohammed got N850 million from Education Tax Fund (ETF),&hellip;<!-- AddThis Advanced Settings generic via filter on wp_trim_excerpt --><!-- AddThis Share Buttons generic via filter on wp_trim_excerpt --><!-- AddThis Related Posts generic via filter on wp_trim_excerpt --><\/p>\n","protected":false},"author":1,"featured_media":6865,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[17],"tags":[],"class_list":["post-6854","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-exclusive"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - 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