The Presidency has issued a stern warning to 51 tertiary institutions implicated in illegal deductions and double fee collections, allegedly exploiting students under the Nigerian Education Loan Fund (NELFUND) scheme.
According to a statement by the Senior Special Assistant to the President on Student Engagement, Sunday Asefon, the exploitative actions uncovered by a recent The Guardian investigative report, threaten President Bola Tinubu’s pledge to ensure equitable access to higher education through the student loan programme.
The report alleged that these institutions have been deducting between N20,000 and N40,000 from student loan disbursements, actions Asefon described as “fraudulent” and damaging to the credibility of the loan scheme.
“The integrity and purpose of the NELFUND initiative must not be undermined by greed or institutional misconduct,” Asefon said, calling on the Economic and Financial Crimes Commission (EFCC) and the Independent Corrupt Practices and Other Related Offences Commission (ICPC) to investigate and collaborate with the Federal Ministry of Education to address the matter.
He stressed that those found guilty would face appropriate sanctions to serve as a deterrent and safeguard the vision behind the education loan initiative.
