Olukoyede Tasks TETFund on Project Monitoring

The Executive Chairman of the Economic and Financial Crimes Commission, EFCC,   Mr. Ola Olukoyede has charged the Tertiary Education Trust Fund, TETFund to be more devoted to the assessment and monitoring of infrastructural projects it finances in Universities and Polytechnics across the country.

He gave the charge in Abuja on Thursday, October 3, 2024 when the top management team of TETFund, led by its Executive Secretary, Architect Sonny Echono paid him a courtesy visit at the EFCC’s corporate headquarters

“I want to encourage you to take greater interest in the execution of some of your projects because we have had some petitions on the non-execution your projects.  I am sure you have a project assessment and monitoring department or committee, let them put more energy into whatever they do so that you don’t just advance money for projects and contractors will take it and walk away.  

   The EFCC’s boss expressed delight with the collaboration of TETFund with the Commission, stressing that, “the visit is a  step in the process of creating awareness for people to know that we are working together. When people become aware that we are working together, it will send a signal across to those who want to cut corners or play smart,” he said.

Olukoyede further urged the TETFund’s boss to thread the path of probity and accountability, knowing that much trust has been placed on him with public funds. “So much trust has been placed on your shoulders vis-a-viz the source of your revenue, which is taxpayers' money. Trust is a burden, a big one indeed, particularly when you are ready to be focused and do the right thing. There will be distractions here and there particularly in the environment where we found ourselves, where people are used to cutting corners. But the onus is on us to do the right thing. So I want to encourage you to always do the right thing, because eyes are on you.”

While pledging the Commission’s enhanced collaboration with TETFund, he disclosed that a larger degree of the public corruption plaguing the country is rooted on contract and procurement fraud. “More than 90 per cent of public corruption that we are facing or we are investigating happens to be in the areas of contract and procurement activities. So we will be willing to collaborate much more with you and take the relationship to a greater height”, he said

Earlier in his remarks, Ochono disclosed that the visit was to demonstrate TETFund’s respect for the Commission and the appreciation of the paradigm shift towards preventive modalities  in the anti-corruption fight under Olukoyede’s leadership.

“The visit underscores the tremendous respect that TETFund has for the Commission and what it is doing in ensuring that taxpayers' money which is entrusted to us as an organization to improve the education landscape of this country is judiciously and prudently utilized for the good of all and the future of our leaders that are being produced from our schools.

“We are primarily here to lend our voice and to show that we fully support the transformation, professionalism and diligence that you have brought to this assignment. We strongly believe that we need people like you in character and determination because you are fighting against principalities in this country; people who believe that they have resources, contacts and power; who think that Nigeria can continue business as usual,” he said.

Speaking further, Ochono assured the Commission of TETFund’s support and requested for collaboration, especially in guiding the path of managers of resources in Nigerian tertiary institutions against financial wrongdoings. “We want to give you the support that you should get. We all know that you are doing the right thing and we encourage you to continue to do so. As an institution which is in the course of ensuring the judicious use of our resources, we want to renew our request for a greater collaboration. Because of procurement infractions, we partnered with the BPP, so we are appealing, knowing that you have a training school where we can bring leaders of our institutions, their bursars and even their procurement people so that they can listen to your experts and learn how to prevent financial infractions,” he said.