News
TETFund Trains Over 17,000 Tertiary Institutions’ Academic Staff on ICT in 2 Years
Some 17,000 academic staff from various tertiary institutions in the country have been trained in Information and Communication Technology, ICT, in the last two years, the Tertiary Education Trust Fund, TETFund, has said.
Arc. Sonny Echono, Executive Secretary of TETFund, made this known at Asset Declaration, Security and Fraud Detection Awareness Workshop /TETFund SERVICOM Week, in Abuja.
Echono, who expressed delight at the level of impact TETFund has brought to bear in public higher education institutions in the country, said the Fund has also trained 37,000 academic staff and sponsored 98,000 others to attend workshops and conferences.
He said:”Since the signing of the TETFund Act of 2011 into law by Mr President the impact of the Fund has been felt by all our stakeholders as is evident through the magnitude of projects and programs for both Infrastructure and human capacity development of all academic staff of the public tertiary Institutions.
“Is something we are very proud of. If you go to our campuses across the country in our beneficiary tertiary institutions, the TETFund logo has become so synonymous with many of the physical structures that we have. If you notice, even when unions are agitating they never mention TETFund as part of their problem because we have been able to train 37,000 of them .
” 98,000 academic and non academic staff of our tertiary institutions have been sponsored to attend conferences and workshops all over the globe in addition to the 37, 000 that have acquired masters and PhDs through the intervention of TETFund.”
The TETFund boss, who was conferred Officer of the Order of the Niger,OON,by President Muhammadu Buhari on Tuesday, congratulated the immediate past Chairman of TETFund’s Board of Trustees, Kashim Ibrahim-Imam and former Executive Secretary, Professor Suleiman Bogoro for bagging OFR and OON respectively, saying the awards were well deserved.
“May I use this opportunity to congratulate the immediate past chairman of our Board and the immediate past executive Secretary for yesterday’s national award, it was a great day for TETFund with 3 nominees or awardees,” Echono said.
On the recent move by TETFund to leverage more on ICT to ensure seamless delivery of its mandate, Echono said the Fund would soon ensure major processes in some areas of interventions are strictly done through online.
“Nearly 17, 000 academic staff, this is outside the figure I gave earlier, in the last two years have been trained on ICT, so that they can deliver and carry out their functions well.
“This year we have approved that all the interventions that have to do with ICT will have be done online, we don’t want them to send papers to us, we don’t even what face to face contact,” Echono said, adding that such step will likely be extended to the library and academic training intervention lines.
Speaking further, Echono called on TETFund staff to ensure what was learnt at the workshop was put into use appropriately especially in the area of service delivery, adding that the Agency staff that have distinguished themselves in service delivery will be honoured by end of the year.
On his part, the National Coordinator of Servicom, Mrs Nnena Akajemeli, commended Echono, TETFund’s Head of Servicom Unit Ebere Nwobu, among others, for ensuring successful celebration of the Customers Service Week.
While saying this year’s Customer Service Week has its theme as ‘Celebrate Service’, Akajemeli expressed satisfaction with the open communication between TETFund and its stakeholders, saying it is the right step in the right direction.
In a remark, the Head, TETFund’s SERVICOM Unit, Mrs Ebere Nwobu, who said the Agency would continue to give the desired attention to all its stakeholders, commended Echono for always providing the necessary support to ensure better service delivery
“In a special way, I would like to thank my Boss, our ever-listening Executive Secretary, as I always call him “The Service Provider in Chief”, for giving us the necessary support and encouragement to organize this 2022 Customer Service Week.
” The ES is always willing and available to listen to complaints and suggestions from the SERVICOM Unit. We cannot thank you enough sir,” she said.
Xora Finance has announced it will no longer consider job applicants from Nigeria.
Xora Finance is a digital bank founded by Joren Lundgren, in February 2026 and allows users to deposit and earn interest on their XRP cryptocurrency.
Lundgren, founder, in an announcement on X (formerly Twitter), cited an ongoing pattern of misconduct, such as dishonesty and theft, from previous Nigerian hires as the reason for the decision.
This sudden blanket ban came just days after the company’s official career page was aggressively recruiting remote workers for marketing and content roles.
The announcement generated heavy backlash online, with many people upset that a blanket rule punishes honest job seekers.
Some lawyers have said that victims of Ponzi schemes have legal remedies, although recovering lost funds and prosecuting perpetrators remain major challenges.
A Ponzi scheme is an investment fraud that pays existing investors with funds collected from new participants rather than from actual profits.
Operators lure victims by promising high returns with little to no risk.
The scheme inevitably collapses when the flow of new investors slows down.
Some lawyers who spoke to News Agency of Nigeria (NAN) separate interviews with on Sunday, said that victims could pursue civil actions to recover their money.
Mr Chibuikem Opara, a lawyer at Justification Chambers, Ikeja,said many Nigerians continued to fall victim to Ponzi schemes in spite of repeated warnings.
Opara said it was wrong to attribute participation in Ponzi schemes to a lack of investment opportunities, noting that promoters often exploit investors’ greed through promises of unrealistic returns.
“What you cannot take away is the fact that many Nigerians have fallen and continue to fall victim to these schemes every time,” he said.
According to him, victims may individually or collectively institute civil actions against the beneficiary company for breach of contract or refund arising from failure of consideration.
Opara said victims could also unite to seek an order from the Federal High Court to wind up the beneficiary company.
He, however, noted that such efforts might yield little benefit if perpetrators had already siphoned the funds and left behind an empty shell.
The lawyer said available remedies largely depended on the actions of relevant authorities, adding that recipient accounts could be frozen to facilitate fund recovery and support winding-up proceedings.
Opara said regulators and law enforcement agencies often became aware of Ponzi schemes only after substantial losses had occurred.
According to him, victims frequently failed to report suspicious schemes early enough to enable timely intervention.
He added that funds are sometimes moved outside the country before authorities become aware of the fraud.
Opara also cited inadequate information and the deceptive nature of the schemes as major obstacles to investigation and prosecution.
“Most times, everything about the schemes is made to appear elusive, just like the profits promised to victims,” he said.
Also speaking, Mr Vincent Aminu of A.F. Aminu and Co. advised that victims of investment scams should report such cases to appropriate law enforcement agencies on time.
Aminu said victims could petition the Economic and Financial Crimes Commission (EFCC) or file reports with the police.
He said that after investigation, prosecutors could bring charges against suspects under relevant fraud-related laws, including provisions of the Criminal Code and the Advance Fee Fraud and Other Fraud Related Offences Act.
Beyond criminal prosecution, Aminu said .victims could pursue civil actions to recover their money
According to him, such actions may be based on breach of contract, unjust enrichment, or fraudulent misrepresentation, depending on the circumstances.
He added that victims could petition the Securities and Exchange Commission (SEC), which could investigate illegal operators, shut down unauthorised platforms, and freeze assets.
He identified the anonymity of online fraudsters as one of the biggest challenges confronting investigators.
According to him, many operators concealed their identities through fake digital profiles and technologies that made tracking them difficult.
Aminu also noted that victims who delayed taking legal action risked losing opportunities for redress.
He added that prolonged court proceedings often delayed justice for victims.
“Many fraud-related cases take years before the court reaches a verdict, thereby delaying justice for victims,” he said.
Also, Mr Chris Ayiyi of Ayiyi Chambers, Apapa, described Ponzi schemes as a gamble that benefited early participants at the expense of later investors.
Ayiyi said some early entrants received returns on their investments, thereby encouraging others to join the schemes.
He said the schemes eventually collapsed, leaving late investors to bear the losses
The lawyer called for a complete ban on Ponzi schemes or sustained public enlightenment campaigns against them.
He urged the National Assembly to enact laws that would strengthen regulation and provide greater protection for investors.
According to him, stronger legal safeguards are necessary in a country operating a capital-based economy.
PalmPay Group (“PalmPay”), a multinational fintech company providing digital financial services across high-growth emerging markets, is pleased to appoint Samuel Oluyemi as Chief Operating Officer (“COO”) of its Nigeria practice, effective immediately.
The appointment comes at a pivotal moment for PalmPay as it looks to reach more underserved communities and continuously strengthen the reliability and security of its services. It also comes as Nigeria’s broader financial services sector continues to modernize, bring millions more Nigerians into the formal financial system, and strengthen the cybersecurity and fraud-prevention standards that underpin public confidence in digital payments.
As COO of PalmPay Nigeria, Mr. Oluyemi will oversee PalmPay’s Nigerian operations — where the company provides a full suite of digital financial services to individuals and businesses — and communicate with regulators to ensure the company’s growth happens harmoniously with the country’s financial, digital, and social inclusion goals.
Mr. Oluyemi brings more than two decades of experience at the Nigeria Inter-Bank Settlement System (“NIBSS”). During his tenure as the Business Development Lead, he championed the development of key national payment services — including the Digital Validation of Nigerian International Passport (e-Passport Validation), Electronic Dividend Mandate Management System (“e-DMMS”), and the Electronic Pensions Contribution Collection System (“EPCCOS”) — and played a pivotal role in introducing and driving early adoption of NIBSS Instant Payment (“NIP”), Nigeria’s first online, real-time, inter-bank transfer system in 2011 and its subsequent extension to the Other Financial Institutions (“OFI”) segment of the Nigeria Payments System.
He holds an MSc in Monetary Economics from the University of Ibadan with extensive local and international professional training.
“Samuel joins PalmPay at an important stage in our journey to strengthen the foundations that will support our long-term goal of driving financial inclusion,” said Chika Nwosu, Managing Director of PalmPay Nigeria. “His extensive experience makes him well positioned to help us scale sustainably while maintaining the operational discipline, governance and customer-first culture that define PalmPay.”
“PalmPay has established itself as one of the most impactful fintech companies in emerging markets by making financial services more accessible and affordable for millions of people,” said Mr. Oluyemi.
“I am excited to join the company and look forward to working alongside an exceptional team to strengthen operational excellence and support PalmPay’s vision of building a leading digital financial services platform. Together, we will continue delivering secure, reliable, and customer-focused financial solutions while contributing to the continued evolution of Nigeria’s digital financial ecosystem.”
As Nigeria’s digital financial services sector continues to mature, this appointment reflects a broader commitment guiding PalmPay across all markets it serves: building financial services that are secure, reliable, and effective enough to earn a permanent place in people’s everyday lives.
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