Adeyanju Calls For Arrest, Prosecution Over Alleged N71.2bn Student Loan Fraud
Human rights activist and lawyer, Deji Adeyanju, has called on the Independent Corrupt Practices and Other Related Offences Commission (ICPC) to arrest and prosecute all individuals linked to the alleged N71.2 billion fraud discovered in the Nigeria Education Loan Fund (NELFUND).
In a strongly worded statement issued to THE WHISTLER on Thursday, Adeyanju expressed deep disappointment over what he described as a “gross betrayal of public trust,” saying the alleged mismanagement of the student loan scheme could have devastating consequences for millions of Nigerian students who rely on the fund for access to quality education.
“At a time when countless young Nigerians are struggling to afford tuition and basic educational materials, the alleged diversion or mismanagement of N71.2 billion meant for student loans is both shameful and criminal,” he said.
“It is a tragic irony that funds meant to uplift the youth are being allegedly looted by those in positions of power.”
Adeyanju commended the ICPC for its swift move in launching an investigation into the matter, but insisted that the probe must lead to arrests and prosecutions, regardless of the status or political affiliations of those involved.
“I urge the ICPC to leave no stone unturned. All individuals and institutions found culpable must be brought to justice without fear or favor. This is the only way to restore credibility to the student loan scheme and deter future acts of corruption,” he said.
He also challenged Nigeria’s broader anti-corruption architecture—including the Economic and Financial Crimes Commission (EFCC) and other relevant agencies—to stop appearing powerless in the face of elite corruption.
“Our anti-corruption agencies must rise to the occasion. They cannot continue to act as if their hands are tied when the looters are politically connected. Selective justice only undermines the credibility of the fight against corruption,” Adeyanju added.
The Nigeria Education Loan Fund (NELFUND), established to provide interest-free loans to indigent students across the country, has come under scrutiny following reports of irregularities in its financial management.
The reported N71.2 billion shortfall has sparked outrage among stakeholders, with many demanding accountability and transparency.
Adeyanju Calls For Arrest, Prosecution Over Alleged N71.2bn Student Loan Fraud is first published on The Whistler Newspaper
