Information at our disposal has it that the Executive Secretary of Tertiary Education Trust Fund (TETFUND), Sonny Echono was detained and released by the Independent Corrupt Practices and Other Related Offences Commission (ICPC) over alleged N7 billion fraud.
According to our sources, Echono was detained and interrogated by special team of investigators from ICPC for two days – Friday, August 16th and Saturday 17th, 2024.
Sources squealed to us that Echono was detained in connection with the diversion of public funds and the abuse of due process amounting to N7 billion.
Sources said; “Yes, we can confirm that the embattled TETFUND Executive Secretary was with the Commission from Friday morning until Saturday evening. He was granted administrative bail through a Permanent Secretary from one of the ministries.”
We were told that during Echono’s tenure that TETFund allegedly awarded two contracts, each valued at N3.8 billion, to Fides Et Ratio Academy and Pole Global Marketing within a span of two months.
According to those in the know, the contracts required Federal Executive Council approval due to their size, but TETFUND allegedly granted it without such authorization.
We gathered the contracts were intended to provide capacity-building courses and learning management systems for approximately two million students across higher institutions in the country.
