Minister Summons VCs, NELFUND Over Student Loan ‘Deductions’
The Minister of Education, Dr. Tunji Alausa, is convening an urgent meeting with the Vice Chancellors of affected universities and the Managing Director of the Nigerian Education Loan Fund (NELFUND) to investigate alleged unauthorised deductions from funds disbursed under the NELFUND scheme.
According to a statement by the Director of Press and Public Relations, Ministry of Education, Boriowo Folasade, the meeting scheduled for May 6, 2025, will thoroughly investigate the matter, and ensure full accountability.
The minister, in the statement, described the allegations as “very disturbing and extremely concerning,” emphasising that any unauthorised deductions from student loans would constitute a gross violation of public trust and undermine the foundation of NELFund.
He stated that if proven true, such actions would constitute a gross violation of public trust and a betrayal of the government’s commitment to equitable access to education.
The statement disclosed that the ministry will also launch a compliance-tracking initiative and a countdown webpage to monitor institutional transparency, offer technical assistance, and introduce an Annual University Transparency Index.
“To reinforce this effort, the Ministry, in collaboration with the Athena Centre, will launch a compliance-tracking initiative and a countdown webpage to monitor institutional transparency. They will also offer technical assistance and introduce an Annual University Transparency Index to promote accountability and enhance the global relevance of Nigerian universities.
“Additionally, a training program will be organised for Bursars and ICT Heads of universities and polytechnics on the development and maintenance of an open-portal initiative,” it said.
Alausa assured Nigerians that the matter will not be swept under the carpet and anyone found culpable will face appropriate sanctions.
He emphasised the administration’s commitment to protecting public funds and ensuring students receive the full benefits of government education support schemes.
“As part of our National Education Sector Reform Initiative (NESRI), governance remains the top pillar of our agenda.
“We are committed to strengthening transparency, promoting responsible financial conduct, and ensuring that every kobo allocated for student welfare is used appropriately. Let me assure Nigerians that this matter will not be swept under the carpet. Anyone found culpable will face appropriate sanctions,” he said.
Alausa further noted that President Bola Tinubu, who established NELFund as a flagship initiative, made adequate budgetary provisions to support both students and institutions in a fair and transparent manner.
“NELFUND was created to expand students’ access to high quality education and to support universities financially in a legal and sustainable way. Any attempt to exploit this fund is unacceptable and contradicts the President’s vision for inclusive human capital development,” he said.
Minister Summons VCs, NELFUND Over Student Loan ‘Deductions’ is first published on The Whistler Newspaper
