TETFund Grants Higher Education Institutions Power to Penalize and Terminate Erroneous Entrepreneurs

Bow. Sonny Echono, Executive Secretary of TETfund


The Tertiary Education Trust Fund (TETFund) said it has recommended termination of contracts and sanctions for offending contractors running projects at higher education institutions benefiting from its interventions.

TETFund Executive Secretary Sonny Echono made this known in Abuja this weekend during the 2021 Annual General Meeting of the Procurement Professionals Association of Nigeria (PPAN), which also featured elections. in his leadership positions.

Exchono, who acknowledged there were challenges related to the high cost of materials over the past year, said the agency dealt with the situation because it devised ways to address them.

The TETFund boss said the agency was working with regulators to secure support to ensure there were no abandoned projects at its grantee institutions.

He said: “We will work closely with regulators to see how we can get support for this and make sure we don’t have any abandoned projects because ultimately it’s better to fix the problem today; the longer you delay, the higher the cost and the greater the complications.

Also Read: TETFund Begins Disbursement of Direct Intervention Funds to Universities, Polys, Others

“So we work in a very agile way, we work with entrepreneurs, institutions. We are already meeting. Throughout the past week we have met many institutions that have such challenges and we will continue for the rest of this week. We find a solution.

Talking about the fight against corruption in procurement, he described corruption as one of the manifestations or incitements of poor procurement, adding that good procurement is one that achieves the goal, in particular procurement at the right time and at the right cost for everyone’s satisfaction.

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