The National Association of Polytechnic Students has issued a five-day ultimatum to the Nigeria Education Loan Fund (NELFUND) to release a comprehensive report on the disbursement of student loans, specifically detailing how polytechnic students have benefited from the scheme.
This demand comes amid mounting concerns over alleged irregularities in the loan distribution process. The National Orientation Agency recently accused some educational institutions of colluding with banks to fraudulently deduct funds from student loans.
Further fueling the controversy, the Independent Corrupt Practices and Other Related Offences Commission disclosed last week that while NELFUND had disbursed N100 billion, only N71 billion has been properly accounted for in their preliminary investigation.
The situation sparked public outrage, culminating in a protest by members of the National Association of Nigerian Students, who blocked the Lagos-Ibadan Expressway on Monday in response to the revelations.
In a communique released Wednesday and signed by NAPS President Eshiofune Oghayan and Senate President Oyewumi Ayomide, the student body threatened to mobilize a nationwide protest if the NELFUND board fails to provide a breakdown of the disbursement, including clear figures showing how much support polytechnic students received.
The association stated that if their demands are not met, they will stage a protest involving nearly 1% of Nigeria’s 28.1 million students, file petitions with the Department of State Services and the Economic and Financial Crimes Commission for a full investigation, and explore all democratic means to seek justice.
In response to the allegations, NELFUND Managing Director Akintunde Sawyerr addressed the matter during an appearance on Channels TV’s Politics Today on Sunday. He dismissed claims of missing funds, insisting that no money had been stolen and that all funds allocated were intact.
Sawyerr emphasized that the student loan program was part of President Bola Tinubu’s initiative to make education accessible to financially disadvantaged Nigerians, adding that any confusion may have stemmed from the human handling involved in the initial phase of implementation.
