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The agency said it was wrong to say they were contracts, whereas they were ICT projects implemented under a memorandum of understanding (MoU) which doesn’t require competitive bidding in public procurement.
Investigation is still ongoing.” It would be recalled that TETfund awarded two contracts to Fides Et Ratio Academy and Pole Global Marketing (PGM) within two months at the cost of N3.8 billion respectively without the approval of the federal executive council (FEC), which is required for the contract size.
TETFund further said its disbursement guidelines were approved by the president on the recommendation of the “Fund’s Board of Trustees and concurrence of the Honourable Minister of Education in line with the TETFund Act 2011″.
In a chat with TheCable, Bakare said Echono is sill in the agency’s custody and investigation is still going into the allegations of fraud..
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