News

TETFUND Transfers ₦325 Million to Adamawa APC for Party Operations Amid Controversy

Published by admin on December 13th, 2024.

TETFUND Transfers ₦325 Million to Adamawa APC for Party Operations Amid Controversy

The Tertiary Education Trust Fund (TETFUND) is embroiled in a financial dispute following the confirmation that the All Progressives Congress (APC) State Working Committee in Adamawa State received ₦325 million from the federal agency to support the party’s routine activities.

According to SaharaReporters, the funds, which amount to ₦25 million per month from October 2023 through October 2024, have raised concerns within the party. Allegations of embezzlement and mismanagement have surfaced, with some APC leaders accusing their colleagues of financial misconduct.

Established in 2011, TETFUND was designed to provide supplementary financial assistance to public tertiary institutions across Nigeria. Its main role is to aid in the rehabilitation, restoration, and enhancement of the country’s higher education system.

SaharaReporters obtained a petition from Mrs. Patricia Yakubu, the women’s leader of the Adamawa APC, addressed to National Security Adviser Nuhu Ribadu. In the petition, Mrs. Yakubu claims that TETFUND’s funds, intended to support the APC’s activities in Adamawa, were misappropriated by party officials. She also accused the leadership of sidelining her and others within the party.

The petition, titled “Urgent Call for Intervention: Allegations of Fraud, Misuse of Party Funds Amounting to ₦500 Million, Intimidation, and Violations of the Party Constitution,” was also sent to Senate President Godswill Akpabio, First Lady Oluremi Tinubu, and other prominent figures.

In the petition, Yakubu outlines how party finances were mishandled, including the irregular receipt of ₦25 million monthly payments from TETFUND starting October 2023, with no transparency or proper accounting. According to her, the financial secretary was removed from his position, and the treasurer was excluded from financial dealings, with all transactions being funneled through a single individual’s personal account. She also claims that at one point, ₦75 million was collected in a lump sum, and that party leaders were secretly transferring funds through Bureaux de Change (BDCs).

Yakubu further revealed that in December 2023, former Education Minister Prof. Tahir Mamman allocated ₦15 million for Christmas gifts to party executives, but only ₦50,000 each was distributed, leaving a shortfall of ₦48 million, which remains unaccounted for.

The women’s leader also expressed concerns over a plot to oust her from her position to cover up the alleged financial mismanagement. She claimed that party leaders fabricated an accusation to remove her, stating her focus is solely on the welfare of party women, not internal politics.

In her petition, Yakubu urges Ribadu to intervene and address the issues, claiming the state’s party structure is in disarray, with widespread discontent among members. She also cited violations of the APC constitution and a breakdown in leadership, calling for urgent action to restore order within the party.