By Emmanuel Kwada
The Federal Government has instructed universities and other tertiary institutions to permit students who have applied for the Nigerian Education Loan Fund (NELFUND) to sit for their examinations without restrictions. This directive aims to ensure that financial constraints do not hinder students’ academic progress.
In a briefing yesterday in Abuja, Minister of Education, Dr. Tunji Alausa, announced the formation of a high-level committee tasked with standardizing fee payment processes across tertiary institutions.
The committee, comprising representatives from NELFUND, the Ministry of Education, the National Universities Commission (NUC), and heads of tertiary institutions, is expected to submit its report within three weeks. The panel will streamline financial operations, standardize charge nomenclature, and improve coordination between universities and NELFUND for loan disbursements.
There is no fraud in NELFUND
The announcement followed a meeting with NELFUND, vice-chancellors, and heads of tertiary institutions accused of misappropriating student loan funds.
Addressing allegations by the Independent Corrupt Practices and Other Related Offences Commission (ICPC) that N71.2 billion was missing from NELFUND, Alausa dismissed the claims as untrue. He clarified that discrepancies reported by students stemmed from service charges imposed by institutions, which have since been removed.
“There is no fraud in NELFUND,” Alausa stated, describing the issues as “communication problems” and timeline-related challenges. He added, “We’re working to better streamline those processes and come up with more standardized guidelines to address those issues.”
The ICPC had previously announced a probe into alleged discrepancies in loan disbursements, but Alausa noted that the agency’s initial report was inaccurate. The meeting was attended by the Minister of State for Education, Prof. Suwaiba Ahmad, NELFUND Managing Director, Akintunde Sawyerr, and heads of beneficiary institutions.
We’re working to better streamline those processes and come up with more standardized guidelines to address those issues
The government’s directive and the committee’s formation are expected to enhance transparency and efficiency in the student loan program, ensuring that funds reach deserving students promptly.
