The National Association of Polytechnic Students has formally issued a five-day ultimatum to the board of the Nigeria Education Loan Fund (NELFUND), demanding a comprehensive breakdown of the loan disbursement process.
The student loan program has faced heightened scrutiny following allegations by the National Orientation Agency that certain institutions, in collaboration with financial institutions, have been engaging in fraudulent deductions from the disbursed student loans.
Last week, the Independent Corrupt Practices and Other Related Offences Commission (ICPC) announced that its preliminary investigation revealed a discrepancy in NELFUND’s loan distribution. Although NELFUND reportedly released N100bn in student loans, only N71bn has been accounted for.
These revelations have sparked widespread outrage, culminating in a protest on Monday by members of the National Association of Nigerian Students (NANS), who blocked the Lagos-Ibadan Expressway in response.
In a communique released on Wednesday, signed by President Eshiofune Oghayan and Senate President Oyewumi Ayomide, the National Association of Polytechnic Students (NAPS) demanded that the Nigeria Education Loan Fund (NELFUND) provide a detailed breakdown of how funds were disbursed to polytechnic students.
The communique stated: “We issue a five-day ultimatum to the NELFUND board to publicly provide a detailed breakdown of how funds were disbursed, including specific figures showing how polytechnic students benefited.”
NAPS made it clear that should their demands not be met, they would mobilize nationwide protests. The association’s call comes amid growing concerns over the transparency and accountability of the loan disbursement process.
The National Association of Polytechnic Students (NAPS) has called for mass protests involving 0.9% of Nigeria’s 28.1 million students, demanding transparency in the disbursement of the NELFUND loan. The association also plans to file petitions with the Department of State Services (DSS) and the Economic and Financial Crimes Commission (EFCC) for a full-scale investigation into the matter. They have vowed to use all democratic means to seek justice if their demands are not met.
In response to the allegations of missing funds, NELFUND Managing Director, Akintunde Sawyerr, appeared on Channels TV’s Politics Today on Sunday, where he strongly denied the claims that N71 billion in student loans had gone missing. He clarified: “No money has been stolen. The President, in his wisdom and well-intentioned programme, decided to set up the Nigeria Education Loan Fund to bridge the gap for students who lack the financial means to pursue education.”
Sawyerr acknowledged that there were some issues with human intervention during the loan disbursement phase, but he assured that no funds had been misappropriated.#newsafro_
