Alleged N325m Allocation To APC: TETfund Clears The Air

The Tertiary Education Trust Fund, TETfund, has disclaimed reports on the social media that it paid the sum of 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.

APC Woman Leader in the state, Mrs. Patricia Yakubu had in a petition addressed to the National Security Adviser, Mallam Nuhu Ribadu asserted that the TETFund doled out N25 million monthly to the party between  October 2023 and October 2024.

Mrs Yakubu, in the petition, accused the state party leadership of monumental fraud and misappropriation of party funds totalling N500 million.

Among them, the Adamawa APC Woman Leader said the party received a total N325 million from TETFund in the said period using contract sales at General Murtala Mohammed College, GMMC, Yola  and Federal College of Education, Yola.

“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 Seventy-Five Million naira (₦75,000,000.00). Sometimes, these monies are paid through BDCs,” Mrs Yakubu alleged.

But the Director, Public Affairs of TETFund, Abdulmumin Oniyangi Thursday denied the allegations on party funding. “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”, he explained.

Similarly, the TETFund Director added that FCE Yola which is a beneficiary institution of TETFfund is 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”, said Oniyangi.

He stressed that the Fund has undertaken its mandate steadily over the years both as ETF and TETFund and with renewed vigour under the leadership of President Bola Tinubu. 

“We advise that detractors get their facts right so as to avoid misleading the public,” the statement added.

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