According to information that we have, the Independent Corrupt Practices and Other Related Offences Commission (ICPC) arrested and then freed Sonny Echono, the Executive Secretary of the Tertiary Education Trust Fund (TETFUND), on suspicion of committing a N7 billion fraud.
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As per our information, Echono was held and questioned for two days on August 16 and 17, 2024, by a special team of investigators from the ICPC.
We were informed by sources that Eckono was being held in relation to the misappropriation of N7 billion in public funds and the violation of due process. According to sources, the troubled TETFUND Executive Secretary was present at the Commission on Friday morning and stayed until Saturday night.
By means of a Permanent Secretary from one of the ministries, he was given administrative bail. We were informed that in the two months that Echono was in office, the TETFund purportedly gave two contracts—one for N3.8 billion—to Pole Global Marketing and Fides Et Ratio Academy.
The contracts, because of their scale, needed clearance from the Federal Executive Council, but TETFUND allegedly approved them without that authority.
From what we could gather, the contracts were meant to supply learning management systems and courses aimed at increasing capacity for about two million students enrolled in the nation’s higher education institutions.
