HOUSE OF REPS PROBES ALLEGED IRREGULARITIES IN STUDENT LOAN SCHEME………
By: Safiya Abdulrahim Dabban
The House of Representatives has launched an investigation into alleged fund diversions, non-compliance, and unethical practices in the disbursement of the student loan scheme.
At a joint investigative hearing by Committees on Student Loans, Scholarships, Banking, Anti-Corruption, and University Education, Speaker Dr. Abbas Tajudeen represented by Deputy Minority Leader Hon. Aliyu Madaki warned that mismanagement could derail one of Nigeria’s most vital educational programmes.
He emphasized that the probe is not a witch-hunt but a constitutional and moral duty to ensure transparency and protect the future of young Nigerians.
Chairman of the Committee, Hon. Ifeoluwa Ehindero, revealed that as of June 30, 2025, over ₦73.1 billion had been disbursed to 366,247 students across 206 institutions—₦38.26bn for tuition and ₦34.85bn for upkeep.
MD of NELFUND, Mr. Akintunde Sawyer, stated that the Fund has received over 650,000 registrations, processing about 2,000 applications daily, with payments made directly to institutions after verification.
The House reaffirmed its commitment to transparency, reform, and accountability in managing public education funds.