TETFund alerts institutions to fake approval-in-principle in circulation

The Management of Tertiary Education Trust Fund (TETFund) has warned tertiary institutions against the activities of fraudsters circulating fake Approvals-in-Principle (AIP) quoting outrageous sums as allocations to some institutions that are not even beneficiaries of the fund.

The warning was contained in a statement issued on Wednesday, in Abuja, by the Ag. Director, Public Affairs of TETFund, Mr Abdulmumin Oniyangi,

Oniyangi said the fraudulent methods currently being adopted by these unknown individuals or groups include the issuance of Approval-in-Principle to unsuspecting institutions using the letter-head of the Fund and handing same to members of the public in exchange for gratification.

The statement read: “The attention of the Management of Tertiary Education Trust Fund (TETFund) has been drawn to some fake Approvals-in-Principle (AIP) quoting outrageous sums as allocations to some institutions that are not even beneficiaries of the fund. So far, this has been mainly concentrated in and around Jos, Plateau State.

“The fraudulent methods currently being adopted by these unknown individuals or groups include the issuance of Approval-in-Principle to unsuspecting institutions using the letterhead of the Fund and handing same to members of the public in exchange for gratification.

“The fund wishes to inform the public that A.I.P is not tantamount to award of contracts and does not confer financial benefits to third parties.

“Its issuance is based on allocations of funds specifically to beneficiaries of TETFund which in this case are the Public Universities, Polytechnics and Colleges of Education as expressly stated by the laws establishing TETFund.

“The Management, therefore, dissociates itself from the activities of these individuals or groups and advises stakeholders and the public to be wary of the activities of these fraudsters who come under the guise of consultants to

“TETFund to defraud unsuspecting Nigerians. All communication from TETFund shall be direct to beneficiary institutions and through open transparent channels.

“For further clarification on the activities of TETFund, kindly visit our website www.tetfund.gov.ng,” the statement read. (Nigerian Tribune)