TETfund Denies Allocating N325 million To Adamawa APC
TETFund denies allegations of paying N325 million to the Adamawa APC for party activities. Accusations were made by APC Woman Leader Patricia Yakubu, who claimed misappropriation of funds by the state party.
The Tertiary Education Trust Fund, TETfund, has denied reports that it paid N325 million to the Adamawa State chapter of the All Progressives Congress, APC, for running the party’s activities in the state between October 2023 and 2024.
Adamawa State APC Woman Leader, Mrs. Patricia Yakubu had in a petition to the National Security Adviser, Mallam Nuhu Ribadu accused TETFund of doling out N25 million monthly to the party between October 2023 and October 2024, adding that the state party misappropriated a humongous amount totalling N500 million.
According to the woman party leader, the APC altogether, received N325 million from TETFund within the period using contract sales at General Murtala Mohammed College, GMMC, Yola and Federal College of Education, Yola.
Her words, “The money is meant for running day to day party activities in and outside the state. The party account has been completely abandoned; the Financial Secretary has been removed as a signatory against the party constitution.
“Treasurer has been totally sidelined in all financial dealings. All financial transactions are done through an individual account (account details for investigation available).
“There was this time they collected three months at once totaling ₦75 million. Sometimes, these monies are paid through BDCs.”
However, the Director, Public Affairs of TETFund, Abdulmumin Oniyangi denied the allegations Thursday, saying that, “The assertion is not only preposterous and totally false, but also a great disservice to the nation that an individual of such political standing, would engage in frivolity without an iota of evidence.
“To further buttress the futility of the allegations, we wish to state in clear terms that General Murtala Mohammed College, GMMC, Yola, where TETFund contracts are alleged to have been sold is not a Beneficiary Institution of TETFund.”
The TETFund Director further noted that FCE Yola which was a beneficiary institution of TETFfund was solely responsible for engagement of its contractors in line with the policy of the Fund.
“The Fund has observed that allegations of this nature, sponsored by desperate individuals, have become the trend in recent times but will not be deterred in carrying out its statutory mandate which remains funding for the rehabilitation, restoration and consolidation of tertiary education in Nigeria.
He further stressed that the Fund had undertaken its mandate steadily over the years both as ETF and TETFund, and even with renewed vigour under the leadership of President Bola Tinubu.
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