From Laide Raheem, Abeokuta
The National Association of Nigerian Students (NANS) has raised concerns over unethical practices in the disbursement of the Nigerian Education Loan Fund (NELFUND), alleging that some tertiary institutions, in collusion with banks, are diverting student loans for personal gain.
Speaking on Thursday in Abeokuta, NANS National Vice President for Inter-Campus and Gender Affairs, Akinbodunse Sileola Felicia, called on President Bola Tinubu to establish a presidential task force to monitor loan disbursements.
She described NELFUND as a vital initiative under Tinubu’s Renewed Hope Agenda but warned that corrupt practices threaten its integrity.
Akinbodunse cited a National Orientation Agency (NOA) investigation, supported by Community Orientation and Mobilisation Officers (COMO), which revealed that some university officials withhold loan disbursement details, forcing students to pay tuition despite funds being released.
NELFUND’s Managing Director, Akintunde Sawyerr, confirmed these findings, stating, “Some institutions have received student loan disbursements directly into their accounts yet neglect to inform the affected students or record the payments.” He vowed legal action against such institutions.
NANS condemned these practices, announcing plans for nationwide protests on 24 April 2025 to demand accountability. The group urged the Economic and Financial Crimes Commission (EFCC) and Independent Corrupt Practices Commission (ICPC) to investigate, called for sanctions on complicit banks, and demanded NOA and NELFUND disclose the identities of offending institutions and officials. “We will continue to resist any attempt to tamper with student loans,” Akinbodunse stated.