The Tertiary Education Trust Fund (TETFund) said its attention has been drawn to fake Approvals-In-Principle (AIP) quoting outrageous sums as allocations to some institutions that are not beneficiaries of the Fund.
Acting Director, Public Affairs Unit of the Fund, Mr. Abdulmumin Oniyangi made the disclosure in a statement issued on Wednesday, May 25, 2022.
Oniyangi noted that the fraudulent methods currently being adopted by the fraudsters included 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 in part: “The Fund wish 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 advise 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 directly to beneficiary institutions and through open transparent channels”.