By Ameh Gabriel
The Minister of State for Education, Dr. Tunji Alausa, has firmly denied reports of fraud in the disbursement of funds under the Nigerian Education Loan Fund (NELFUND), describing such claims as inaccurate.
Speaking on Wednesday after a strategic meeting with Vice Chancellors, officials of the National Universities Commission (NUC), the Nigerian Education Loan Fund, and the Federal Ministry of Education, Dr. Alausa addressed recent allegations suggesting financial discrepancies in the scheme.
“There is no fraud in NELFUND,” the Minister stated. “The information previously reported by the ICPC was incorrect. What exists are issues related to disbursement timelines, not fraud.”
Dr. Alausa’s remarks follow a statement by the Independent Corrupt Practices and Other Related Offences Commission (ICPC), which said it had launched an investigation into alleged irregularities in the student loan scheme. The commission claimed its preliminary findings showed that out of the N100 billion released by the Federal Government, only N28.8 billion had been disbursed, leaving N71.2 billion unaccounted for.
The allegations sparked widespread concern, with the National Association of Nigerian Students (NANS) threatening mass protests over the perceived shortfall.
Additionally, the National Orientation Agency (NOA) raised concerns about some institutions reportedly collaborating with banks to delay loan disbursements in a bid to exploit the situation for financial gain. Media reports also alleged that certain schools made unauthorized deductions ranging from N3,500 to N30,000 from students’ loan-funded fees.
In response, ICPC spokesperson Demola Bakare announced last Thursday that the Commission had activated a Special Task Force to probe the allegations as soon as they were received.
Despite the public outcry and ongoing investigations, Dr. Alausa has assured Nigerians that there is no evidence of fraud in the NELFUND operations and urged stakeholders to allow the appropriate processes to unfold.
