THE INSIDER: How TETFund awarded N7.6bn questionable contracts within two months

The Tertiary Education Trust Fund has awarded a N7.6 billion contracts to two companies without due process, TheCable has learnt.

In a letter dated May 24, 2023, signed by Kolapo Okunlola, director of human resources and general administration at TETFund, to the chief executive officer of Fides Et Ratio Academy, the agency approved the capacity development training for students and some staff of tertiary institutions for one academic session.

“Duration: The duration of this commitment shall be for a period of One academic session . You are expected to exercise due diligence. Payment: Please note that payment would be made in two instalments, 70% of the total sum would be paid upon acceptance of the offer and the outstanding 30% balance payment would be after the successful completion and submission of a detailed report on the training to the Executive Secretary.

“Please note that payment would be made in two installments. The first payment of 85% would be made upon successful take-off of the project, confirmation of enrolment of participants on the Anthology and PGM Local Hub and submission of a detailed progress report showing progress on the project deliverables While the final payment of 15% would be made after the successful completion of the programme and submission of a detailed report on the training to the Executive Secretary.

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