FG Summons NELFund Boss, VCs Over Alleged Student Loan Diversions, Deductions
Some Vice Chancellors of schools and the Managing Director of Nigeria Education Loan Fund (NELFund) have been summoned by the Federal Government over alleged diversion of funds meant for the student loan scheme.
A recent report claimed that about 51 schools had made illegal deductions from student loans under NELFund.
Meanwhile, the Independent Corrupt Practices and Other Related Offences Commission (ICPC) has said it has launched a comprehensive investigation into the alleged discrepancies.
Worried about the allegations, the Federal Ministry of Education said it “is convening an urgent meeting on May 6, 2025, with the Vice Chancellors of the affected universities and the Managing Director of NELFund.”
The ministry, in a statement by its Director, Press and Public Relations, Boriowo Folasade, said, “The meeting will aim to thoroughly investigate the matter, ensure full accountability, and reaffirm the Ministry’s zero-tolerance policy toward financial malpractice in the education sector.”
She quoted the Minister of Education, Olatunji Alausa, as having described the claims as “very disturbing” and a potential violation of public trust.
“If proven true, such actions would constitute a gross violation of public trust and a betrayal of the government’s commitment to equitable access to education,” the minister said.
Olamilekan Adigun is a graduate of Mass Communication with years of experience in journalism embedded in uncovering human interest stories. He also prioritises accuracy and factual reportage of issues.
